PAC takes notice of mega financial scam of Rs 26 billion in NBP

SIDDEEQ SAJID

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ISLAMABAD, May 20 : Public Accounts Committee (PAC) has taken notice of mega corruption scam of Rs 26 billion in National Bank of Pakistan (NBP) and has summoned all the details and record from finance ministry and the bank.

NBP has refused to get audit its accounts despite the clear directives of PAC besides resorting to the court against PAC orders.

The PAC has expressed annoyance over it and reprimanded Zubair Soomro, chairman NBP Board of governors in this regard.

The committee also directed finance ministry to write letter to NBP for withdrawing its application from the court otherwise the committee will initiate action under the criminal procedure and the Prime Minister will be informed about all the situation through a letter.

The committee met under chairman Rana Tanvir Hussain Thursday. The committee checked the financial irregularities found in the overseas Pakistanis matters.

Audit told the committee that that ministry is not holding the meeting of Departmental Accounts Committee (DAC) in connection with its audit objections.

The chairman PAC while expressing displeasure over non holding of DAC meeting said the charge may have been assigned to some one after the retirement of secretary and he should have held DAC meeting.

Mushahid Hussain member of the committee said minister incharge of the ministry is PM himself because Zulfi Bukhari has tendered resignation.

Rana Tanvir Hussain said there is no secretary of finance ministry and even there is no minister of the ministry. All are going, Where interests are involved the bureaucracy interferes immediately. State within state has been established here. All the institutions have been destroyed. Zulfi Bokhari continues to dance the whole day long. His focus is on ring road. What should we do. No one is caring.

The members of committee expressed resentment over violation of PAC orders by NBP
Chairman PAC said how NBP dared to resort to the court against our decision. This is flagrant insult of the parliament. The audit of every government department is must. Parliament can monitor. Whatever decision is given by Sindh High Court we have too many more powers. You should get audit your accounts. It is must. Is bank board above the constitution. They are concealing what irregularity. We have many things with us. We will ask the government to dissolve the board of NBP. Are we goat and sheep. We are ready to go from here. But we cannot tolerate that our decisions are not complied with. The autonomous bodies and constitutional institutions are bound to get audit their accounts.

He held NBP has insulted the PAC and we will take this matter to logic end.

The finance ministry while supporting the plea of conduct of audit of accounts of NBP said the constitution and laws are very clear that audit will be conducted of the accounts of every department.

Auditor General read out Supreme Court decision with reference to audit of NBP.

A clash took place between Rana Tanveer and Zubair Soomro, chairman NBP and they exchanged bitter words.

Chairman Board of governors Zubair Soomro told the committee NBP is not bound to get audit its accounts from auditor general. We have moved Sindh High Court against audit.

Rana Tanveer Hussain said when I am speaking then you should remain silent. We have not asked you to speak just now.

Zubair Soomro said my father Elahi Bakhsh Soomro should not be brought in this matter. PAC is not doing justice with me.

Committee member Noor Alam said the PM should be apprised of all this situation. All others including Supreme Court, law ministry and finance ministry are in favor of audit then why they are refusing.

Zubair Soomro told the meeting government does not provide funds therefore, we don’t go for audit. But we will follow law. Under 18th amendment only the departments which are funded by the government are bound to get audit their accounts. Government does not provide us funds and we provide funds to government.

Chairman NBP refused to withdraw the case from the court respite repeated orders of PAC.

Chairman PAC said Finance ministry should write a letter to NBP for withdrawing the case from the court.

Committee member Riaz Fatiana said if board does not accept the plea then finance ministry should dissolve the board.

Mushahid Hussain Syed said NBP management should withdraw the case from Sindh High Court.

ZubaIR Soomro said that under 18th constitutional amendment only those institutions which are receiving funds from the government are bound to get audit their accounts. NBP acquires no funds from the government. We are not challenging the supremacy of the constitution or the parliament. Sindh High Court has reserved judgment over this matter.

Chairman PAC said a financial scandal of Rs 26 billion has surfaced in NBP. Transparency International has written a letter to us in this regard.

PAC directed to summon the scandal report from NBP. PAC also sought the reports from NBP pertaining to audit which was got done from the private chartered accounts companies.
Chairman PAC said NBP will have to get audit of its accounts at every cost.

The chairman PAC while directing to write letter for withdrawing the case from Sindh High Court said that implementation report be presented before PAC within 15 days.

Rana Tanvir Hussain said if it is not done so then we will exercise all our powers including criminal procedure.