Mega corruption scandal in PPCBL surfaces

[Lahore_Real_Estate]

ISLAMABAD - After the Bank of Punjab scam, another mega corruption scandal of over Rs100 million has surfaced in the Punjab Provincial Cooperative Bank Limited allegedly involving the top management of the bank while the high-up of the bank are being probed by FIA.
Unfortunately the bank, which is working for the welfare of poor farmers of the province and has got Rs8 billion after the guarantee of the Government of Punjab from State Bank to run the Bank’s functions, was defrauded by its own bigwigs.
Available document with TheNation reveals that the cheques in splitting amount were delivered in the name of Al-Falah Bank Ltd, Township Branch, Lahore and the same had been tampered by the officers of Al-Falah Bank Ltd and amount worth 101.413 million has been defrauded. Prima-facie, it appears that it has so been caused due to wilful gross negligence, manipulation, connivance, assistance and misconduct of the officers of the Punjab Provincial Cooperative Bank Ltd, Lahore. Names of officers of the Punjab Provincial Cooperative Bank Ltd, Lahore allegedly involved in fraud are Tariq Dar, Farmer General Manager (Signatory of the cheques), Ch Muhammad Boota Sajid, Zonal Head, Lahore Zone (Signatory of the cheques), Mr Tahir Iqbal Butt, Farmer Chief Manager Finance (Signatory of the cheques), Mr Muhammad Nasim, Farmer Acting Senior Manager Main Branch (Custodian of Cheques Books Accounts) and Mr Anwar Saeed-ul-Hassan Butt Acting Manager Treasury (Custodian of Cheques Books Accounts).
Moreover, Office Order No. 350, Ref.No. HR/Adm/6335.36, issued on August 3, 2010 confirmed that the Bank had been defrauded and at present put to deprivation of heavy amount. “Liaqat Durrani President/ Chief Executive Officer of the Punjab Provincial Cooperative Bank Ltd being a competent authority under Efficiency and Discipline (E&D) Rules of the Bank do hereby place under suspension the above named officers with immediate effect and confine them at their present place of posting till further orders. During the period of suspension they will receive basic pay as subsistence grant as admissible under the rules”.