Yellow Cab, Susti Roti and now Irregularities in Prime ministers Youth Business Loans.
After yellow cabs, susti roti, youth in Pakistan has now been robbed again point blank on the fancy name of PM Youth loans. According to a report by Express Tribune, the staff of the National Bank of Pakistan (NBP) has transferred millions of rupees of Prime Minister’s Youth Business Loan Scheme in bogus accounts. Sources said so far Rs 8 million worth of fraud had been detected.
Revealed by an official investigation, it is the first of its kind fraud in the government’s loan programme exposed in the Mardan region of NBP. Details state that an official of NBP withdrew money from the accounts of beneficiaries of the loan scheme without authorisation. Khan has now been suspended according to bank sources.
The NBP regional head had already authorised the probe last month and an initial investigation report was sent to him on August 15, four days before Prime Minister Nawaz Sharif visited the NBP headquarters in Karachi for a briefing on the loan scheme.
According to the findings, the investigators randomly selected 18 cases of the loan scheme and “found grave irregularities in all the cases. They found instances of parallel banking in all these cases. Of the 18 cases, two were found to be “totally bogus, ghost and both the borrowers have completely disowned the accounts”.
After yellow cabs, susti roti, youth in Pakistan has now been robbed again point blank on the fancy name of PM Youth loans. According to a report by Express Tribune, the staff of the National Bank of Pakistan (NBP) has transferred millions of rupees of Prime Minister’s Youth Business Loan Scheme in bogus accounts. Sources said so far Rs 8 million worth of fraud had been detected.
Revealed by an official investigation, it is the first of its kind fraud in the government’s loan programme exposed in the Mardan region of NBP. Details state that an official of NBP withdrew money from the accounts of beneficiaries of the loan scheme without authorisation. Khan has now been suspended according to bank sources.
The NBP regional head had already authorised the probe last month and an initial investigation report was sent to him on August 15, four days before Prime Minister Nawaz Sharif visited the NBP headquarters in Karachi for a briefing on the loan scheme.
According to the findings, the investigators randomly selected 18 cases of the loan scheme and “found grave irregularities in all the cases. They found instances of parallel banking in all these cases. Of the 18 cases, two were found to be “totally bogus, ghost and both the borrowers have completely disowned the accounts”.
Media Bites Ediotrial - Tazeen Hasan
Published on Octobar 08, 2016
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