ISLAMABAD - The sub-committee of Public Accounts Committee (PAC) has directed Punjab Revenue Board to instantly stop transfer of land to Pakistan Engineering Corporation (PECO) and sought detail report within one week. The meeting of sub-committee of the PAC held at Parliament House here on Wednesday chaired by Sardar Ayaz Sadiq. Rukhsana Bangash and Sardar Bahadur Ahmed Khan and other officials attended the meeting. The sub-committee also sought details of documents proofs about sale of its shares illegally from PECO administration, Privatization Commission and Operational Investment Trust. The PAC also expressed grave concern over the selling of over 51 shares of PECO without the permission of Privatization Commission. Officials of Punjab Revenue Board told the committee that a total of Rs. 3 billion has been paid for 266 kanal land in Badami Bagh Lahore while the value of 247 acre land in Kot Lakhpat is Rs. 12 billion. The government has only 33 percent shares of the department. While briefing to the committee, the officials of NIT told that PECO is going in loss continuously. He added that it is not a government entity but a autonomous department which work under Board of Governors but the MD of the department appoint by the government. Legally, no one can ask questions any issue including selling of shares of PECO, they added. The committee was also informed that the Privatization Commission allowed us to sell 51 shares by a order in 1997. On this occasion, Sardar Ayaz Sadiq said that the same team is involved in the selling of said shares, which was involved in the Stock Exchange Scandal. The name of Arif Habib Group appears in every scandal and a committee of that group has purchased the shares of PECO.