ISLAMABAD, Oct 14: The MNAs on Friday during question hour raised serious concern in the National Assembly over the increasing number of fraud incidents in the National Bank of Pakistan (NBP). In this regard, Deputy Speaker Faisal Karim Kundi was urged to direct the bank authorities to take strict action against the culprits.

While responding to a question raised by MQM MNA Iqbal Mohammad Ali Khan, PML-Q Minister of State for Production Khawaja Sheraz, speaking on behalf of Finance Minister Abdul Hafeez Shaikh, informed the house that the frauds in the National Bank had increased.

“There is a need for better monitoring,” the minister said. In his written reply, the minister said that 82 fraud cases were reported in 2008, 90 in 2009 and 60 in 2010.

He said in 2008, Rs620 million was embezzled but a little over Rs74 could be recovered. In 2009, a fraud of more than Rs900 was committed and a little over Rs400 million was recovered. In 2010, more than Rs186 were embezzled and only Rs18.56 million could be recovered.