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SIALKOT, Aug 24: The UBL Zafarwal branch on Thursday started payment to all account holders affected by a fraud allegedly committed by its former manager Muhammad Jarar.
UBL Narowal area manager/VP Jaffar M Janjua told the press that the top management had taken a serious notice of the scam.
Of Rs11 million embezzled amount, he said, the Zafarwal branch had paid Rs2.5 million worth of claims submitted by dozens of its clients. He said the remaining amount would be paid to the affectees within a month.
He said an officer of VP rank had been deputed at the branch to collect claims.
USAID: The United States Agency for Industrial Development and the Surgical Instruments Manufacturers Association of Pakistan have agreed to draw up “fast-track priorities” for the development of Sialkot’s surgical industry.
The former will provide consultancy, technical assistance and guidelines to boost the industry.
USAID’s allied agency country director Dr Warren Weinstein and others told participants in a workshop that the US group had conducted a study which revealed that the Sialkot surgical industry had a great export potential but it had not been properly developed owing to absence of scientific methods.—Correspondent
