ISLAMABAD: Members of the Public Accounts Committee (PAC) on Wednesday demanded a list of the 600 businesspersons whom commercial banks issued around $3 billion worth of loans at zero mark up rate during the pandemic under the Pakistan Tehreek-i-Insaf (PTI) government.
“The State Bank must present details of the 600 people to the Public Accounts Committee who received these loans,” demanded committee member Barjees Tahir during a meeting held at the Parliament House.
“Under which laws were these 600 individuals issued these loans,” the committee chairman, MNA Noor Alam Khan, said.
The PAC of the parliament was informed that banks offered these loans at concessionary rates during the pandemic. The facility was aimed at encouraging investment during the economic slump caused by spread of coronavirus.
SC clarifies that audit of its accounts upto June 2021 had been completed
Two weeks ago, in the meeting of the National Assembly Standing Committee on Finance, Barjees Tahir had made a similar demand, asking SBP to share details of the 600 beneficiaries. However, the SBP had declined to share the list of the beneficiaries, sighting breach of client confidentiality.
A day ago, Defence Minister Khawaja Asif asked the government to investigate the matter of soft loan given to 600 people. According to the minister, the $3 billion was obtained from abroad. Khawaja Asif alleged that the former prime minister Imran Khan obliged his favourites by disbursing money amongst them.
Nonetheless, the PAC demanded that the finance ministry and the State Bank share the list of the 600 people with committee members.
On the issue of power cuts, members of the PAC, reprimanded officials from the Power Division for increase in load shedding even in the month of Ramazan.
“There is 12-hour load shedding in Hyderabad Electric Supply Company,” committee member Nuzhat Pathan said registering a complaint with chairman of PAC.
“Increase in load shedding is a violation of directions from the prime minister,” said Mr Khan during the meeting as audit objections for the year 2021-22 related to Power Division were reviewed. “In Ramazan, the Power Division increased load shedding, instead of reducing it. We want people to get their legal right to electricity,” he said.
Other members also expressed anger with the Power Division over increase in load shedding of electricity during Iftar and Sehri.
Supreme Court’s response
In response to PAC’s proceedings, the Supreme Court on Wednesday clarified that the audit of the Supreme Court of Pakistan had been conducted and completed up to June 6, 2021.
The apex body said that the audit for the financial year 2021-2022, was under process and could be confirmed from the office of the auditor general of Pakistan.
SC clarified that such reports were contrary to the facts and were based on erroneous information placed before the committee.
Expressing dismay on Tuesday, the PAC had summoned the Supreme Court registrar for skipping the audit of the apex court for the last decade.
This was not the first time that the PAC demanded to look into the SC’s accounts. This clarification comes at a time of ongoing tussle between the executive and the judiciary over funding for holding elections in Punjab and Khyber Pakhtunkhwa.
Published in Dawn, April 20th, 2023
