Fingers grew up on PML-N, the PPP government to lose Rs1,000 billion to national cats | Instant News



ISLAMABAD: The Debt Investigation Commission (DIC) has submitted to Prime Minister Imran Khan his report on the use of loans of Rs24,000 billion taken during the last era of PML-N and PPP during the 2008-2018 period and raised a finger to the two previous governments by showing alleged losses almost Rs1,1 billion for the national finance minister in various development projects.

The findings of this report show that in the coming days opposition parties that are already in hot waters must face more music. The Commission looked into 1,000 development projects including the Orange Train, BRT Peshawar, the Neelum-Jhelum Hydroelectric Power Project and electricity and education projects. Mandarin’s Division of Economic Affairs, the Ministry of Finance, and federal and provincial ministries are responsible for colossal damage of Rs 1,000,000. The report also highlights that the success rate of development schemes initiated by World Bank and Asian Development Bank loans is 25-30 percent. The report also mentions the role of 13 families of high-ranking officials, bureaucrats, politicians in key ministries including the Lahore Development Authority who play a questionable role in major damage to national cats. The Commission has recommended the actions needed for the person responsible for causing damage to the cat.

The Debt Investigation Commission of eleven members led by NAB Deputy Chairman Hussain Asghar submitted the report after 11 months. Officials from Inter-Services Intelligence (ISI), Military Intelligence (MI), Intelligence Bureau (IB), Federal Investigation Agency (FIA), State Bank of Pakistan (SBP), FBR, Securities & Exchange Commission of Pakistan (SECP) and the Ministry Finance is part of the Commission of Inquiry. According to sources, reports on the utilization of Rs24,000 billion loans obtained from external and internal resources during the 2008-2018 period have been submitted. The federal government has formed 11 members of the Debt Investigation Commission with eight ToRs on June 21, 2019. The Commission was given the task of submitting its report within six months.

However, the Commission headed by Hussain Asghar and his support staff completed the report by doing hard work even on weekly holidays other than work that exceeds official working hours.

During the investigation, it was revealed that the 2005 Date Act bravely violated. Two previous governments in just 10 years had taken loans of Rs24,000 billion because the total loans had swelled to Rs30,840 billion in September 2018 from Rs6,690 billion. This has made the country exposed to a lot of loans. In the report, it was also mentioned that a large amount allocated to education and health projects had been transferred to other development schemes. The report also highlights striking violations in the K-4 project because its design and route were changed to accommodate the residential community which resulted in a large loss of Rs30 billion. With the design change, the K-4 project has been made no more practical.

It has also been highlighted that most of the construction work has been swept away by various floods. Another bitter fact surfaced because the cost of the M-3 Motorway has increased by 100 percent which has become part of the investigation report. And the Islamabad and Lahore Safe Cities projects have also been examined. It has also been noted that the government had previously appointed their ‘similar officials’ in the Economic Affairs Division who manage large loans for development schemes but most of them could not be done. The Commission of Inquiry has also pointed to bribery and abuse of authority in various development projects. The Commission also mentioned that around 100 people were also involved in suspicious transactions related to various projects.

More importantly, the Commission has also managed to obtain a complete record of 400 loans obtained through external and internal resources. About 60 officials assisted the Commission in obtaining records on loans managed from various external and domestic resources. Loan details and hundreds of projects and detailed records of individuals as well as various government department and forensic audit accounts have been obtained from around 200 departments.

Pakistan’s Auditor General audit report during 2008-2018 along with irregularities in the project and the involvement of many people were also part of the report. The report also mentions fake development schemes in which MPs print large amounts of public funds. The Commission is also investigating the BRT Peshawar and Neelum-Jhelum hydropower projects. The cost of the Peshawar BRT has risen to Rs75 billion from Rs30 billion and the Neelum-Jhelum project costs have increased from Rs85 billion to more than Rs500 billion. The Commission has successfully investigated 25 Ministry of Petroleum and Natural Resources projects, 85 Ministry of Communication projects, 56 Ports and Shipping and Railways projects, 285 HEC (Higher Education Commission) projects, 78 Health projects, 203 Ministry of IT projects, 186 Ministry of Interior projects Internal Affairs, and 113 Cabinet Divisions.

.



image source

to request modification Contact us at Here or [email protected]