He, however, held the "system" responsible for the alleged corruption and not any particular regime.
During an interview on Dawn News, Abbasi reiterated that he had attributed the corruption to the system.
"I was talking about the governing system which has become so corrupt," he added, as he made it clear that he was not pointing at any government specifically.
He went on to add that it was this corrupt system that did not allow a "well-intentioned" initiative of the premier to become successful.
Pointing to a 30 percent corruption in Punjab's food department, Abbasi claimed that it has been at work since the department was founded, and has been 'on the increase'.
It is based on this observation, he added, that he put forth the estimate to be around 25 percent, in flour distribution.
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"I am honestly telling you that the 25pc figure is undervalued," he added, substantiating his claim that the scheme did suffer a blow.
The PML-N stalwart also said that elections were not a solution to such a level of corruption. "It is not a matter of elections or who is in power or the government but the rot in the system."
On Saturday, Abbasi revealed irregularities in the scheme, amid claims of transparency in the project's execution.
While addressing a ceremony at the Government College University (GCU) Lahore, Abbasi said that some Rs84 billion were spent on the project.
Commenting on the political crisis, he said that the country’s institutions are now facing-off each other.
“The absence of leadership has exacerbated the issues facing Pakistan, and the current system has failed to deliver.”