KARACHI: Karachi Police have created a special cell to inquire into the malpractices committed in various banks before nationalisation. Police have registered three cases against some traders, businessmen and bank executives in this connection. According to Police sources, a large number of businessmen had been obtaining over-drafts and advances against non-existing stocks in the name of fictitious firms. … Investigations are continuing which may unearth more cases of this nature. — Staff reporter

[Meanwhile, as reported by news agencies from Rawalpindi,] the Minister for Fuel, Power & Natural Resources, Mr. Hayat Mohammad Khan Sherpao, said here today [Jan 15] that Pakistan Government has prepared an elaborate plan to explore oil and gas resources in the country with the collaboration of Canada. He was explaining the measures taken by the Peoples’ Government to accelerate the pace of oil and gas production in Pakistan to face the oil crisis, in an interview. … Mr. Sherpao said that the Oil and Gas Development Corporation will import modern equipment with the help of Canada to increase oil production… . He said that under the plan Pakistani geologists will be sent abroad [for] training.

Published in Dawn, January 16th, 2024