The National Accountability Bureau (NAB) will initiate an inquiry against former prime minister Nawaz Sharif's former principal secretary Fawad Hassan Fawad over financial irregularities.

The inquiry was approved by the executive board of the NAB after a meeting on Friday that was chaired by NAB Chairman Justice (r) Javed Iqbal.

Furthermore, the executive board also approved inquiry against Ishaq Dar, Anusha Rehman and former chairman PTA Ismail Shah.

The bureau will also inquire into the allegations of financial irregularities against the administration of the Neelum-Jhelum Project.

The meeting participants also gave the approval to start an investigation against Pakistanis, overseas Pakistanis and investors who send money abroad illegally.

Interestingly, Fawad is already being investigated for wrongfully awarding the Ashiana-e-Iqbal Housing Scheme's contract to 'favourites'. It is alleged that he illegally ordered the shifting of nine CNG stations and also worked in a private bank from 2005 to 2006 without official permission.

Moreover, while being the provincial health secretary, Fawad acquired six mobile health units which were purchased at a higher-than-market rate, a NAB spokesperson said.

Fawad has served as former PM Nawaz Sharif's principal secretary and is considered close to the former premier. He was removed from the post of principal secretary on June 1 this year and appointed director general of Civil Services Academy, Lahore.

The accused bureaucrat was also being probed by NAB for possession of assets beyond known sources of income.

According to NAB, the contract for the housing scheme was won by a construction company titled Chaudhry Latif and Sons.

However, NAB says then Punjab Chief Minister Shehbaz Sharif and his aides awarded the Rs14 billion contract to Lahore Casa Developers — a proxy group of Paragon City (Pvt) Limited, which is said to be owned by Railways Minister Saad Rafique.

Fawad, who was implementation secretary to the chief minister Punjab at the time, leveled charges of wrongdoings against Chaudhry Latif and Sons in order for the contract to be awarded to Casa Developers.