The Debt Complaints Commission report blames PML-N, the PPP government for a loss of Rs 1,000,000 | Instant News


Former president Asif Zardari spoke with PML-N chief Nawaz Sharif. Photo: file

ISLAMABAD: The PPP and PML-N government from the period 2008-2018 have been blamed by the Debt Debt Commission report for alleged damages of Rp1,000 billion to the national treasurer through various development projects, News reported.

A report by the Commission was submitted to Prime Minister Imran Khan regarding the use of a Rs24,000 billion loan taken by the PPP government, PML-N. The findings of this report show that in the future, opposition parties, which 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. The top Mandarin of the Economic Affairs Division, the Ministry of Finance, and the federal and provincial ministries are responsible for the colossal damage to the national treasury of Rp1,000 billion.

The report also highlights that the success rate of development schemes initiated by loans from the World Bank and the Asian Development Bank is 25-30%.

Also mentioned are the roles of 13 families of high ranking officials, bureaucrats and politicians in key ministries, including the Lahore Development Authority, who play a questionable role in the great damage to national cats. The Commission has recommended the actions needed for those responsible for damage to national cats.

The 11-member Debt Investigation Commission led by NAB Deputy Chair 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 an 11-person Debt Investigation Commission with eight Terms of Reference on 21 June 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, working even on weekly holidays other than placing hours outside the work schedule.

During the investigation, it was revealed that the 2005 Date Act bravely violated. The two previous governments, in just 10 years, had taken loans of Rs24,000 billion because the total loans increased to Rs30,840 billion in September 2018 from Rs6,690 billion.

This exposes the country to a large number of loans. In the report, it was also mentioned how the large amount allocated for education and health projects had been transferred to other development schemes.

This highlights a striking violation 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 been included in the investigation report. The Islamabad and Lahore Safe City Projects have also been examined.

It has also been noted that the government had previously appointed ‘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 out 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 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 also investigated the Peshawar and Neelum-Jhelum hydropower projects. The findings in the report state that the cost of 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 Railroad projects, 285 HEC (Higher Education Commission) projects, 78 Health projects, 203 Ministry of IT projects, 186 Ministry of Interior projects and 113 Cabinet Divisions.

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