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KARACHI: The Sindh Bank, set up by the PPP government on the lines of the infamous Mehran Bank launched by late chief minister Jam Sadiq Ali, is in the process of issuing half of the total Rs2 billion fund to four big sugar mills, three of them owned by the big bosses of the PPP, although these units are not sick and are making profit.
A fund of Rs2 billion to help sick units was created by the Sindh government in the current budget but it was ensured that the funds were routed through the Sindh Bank.When two members of the board of directors of Sindh Bank and the chairman showed some reluctance, they were replaced and a new board of directors was created by the Sindh government.
Chairman Board of Directors of Sindh Bank then Chief Secretary Sindh Chaudhry Aijaz and Additional Chief Secretary Planning and Development Arif Ahmed were replaced by executive vice-presidents Tajmal Hussain Bukhari and Naeem Ahmed Farooqi as new members.
The replaced chairman and two board members had objected to giving money to Sakrand Sugar Mills, Chambar Sugar Mills, Fauji (Venus) Sugar Mills and Pak Water Bottlers (pvt) Ltd.According to the official figures of Industries Department, number of sick units in various estates of the province is 1,198 and the four units selected by the Sindh Bank were not even running in losses. These units are running profitable units and are not included in the official list of sick units. The majority of sick units lie in industrial estates in Kotri and Nooriabad of district Jamshoro and Korangi of Karachi.
Most of such units are factories which wrapped up operations due to frequent loadshedding of electricity and gas and non-availability of water. Only in Nooriabad industrial estate, 36 units are closed.
Sources of Finance Department Sindh told The News that by providing financial assistance to money-making industrial units owned by political leaders, the main objective of the scheme to revive the sick units was compromised. Circumstances show that the remaining amount will also be provided on political recommendations, the sources added.
The Industries Department, Government of Sindh, on October 25 moved a summary to the Finance Department for the grant of financial assistance to four big industrial units — Sakrand Sugar Mills district Benazirabad (Nawabshah), Chambar Sugar Mills district Tando Allahyar, Fauji (Venus) Sugar Mills Tando Muhammad Khan and a mineral water company Pak Water Bottlers (pvt) Ltd Karachi.
The Finance Department has referred the matter to the Sindh Bank. The matter was brought before the board of directors on November 4, 2013, where Chairman of Board of Directors Chaudhry Aijaz and one member Additional Chief Secretary Planning and Development Arif Ahmed Khan objected to the move.
As a result, on November 6, 2013, the Sindh Government’s Services, General Administration and Coordination Department issued a notification in which chief secretary and additional chief secretary were replaced by the two executive vice presidents of Sindh Bank Tajmal Hussain Bukhari and Naeem Ahmed Farooqi and new board of directors was formed. Now only secretary finance is representing the Sindh government in board of directors of the bank.
New board of directors immediately sanctioned the financial assistance to the said industrial units on political recommendations.
Despite many calls on official phone numbers and cell numbers and text messages, President Sindh Bank Bilal Shaikh and Secretary Finance Suhail Rajpoot attended the phones nor replied to the messages.
Four sugar mills making profit given - thenews.com.pk
KARACHI: Despite the corruption and financial irregularities of Rs 2.748 billion in Sindh Government’s Live Stock and Fisheries Department during the fiscal year 2012-13, Sindh Government is not ready to investigate the matter and take action against those responsible.
Sources of the Department told ‘The News’ that department’s former Secretary Dr Laeeq Memon had withdrawn millions of rupees in the name of different projects and fled from the country.
Interestingly, knowing the fact of his corruption, Sindh Government approved his ex-Pakistan leave for a period of five years. Dr Memon has reportedly established business in Canada and he is not in the mood to return, sources added.
Audit Report 2011-12 of Auditor General of Pakistan available with ‘The News’ revealed the fact that financial irregularities and misappropriation and corruption of Rs 2.748 billion was done in the Live Stock and Fisheries Department during one year. Audit Department pointed out the matter and recommended a thorough investigation of this scam in September 2012, but no proper enquiry was conducted by the Sindh Government. Audit Department also recommended the Sindh Government to fix the responsibility on officials responsible for this corruption and violation of government rules.
Director Anti-Corruption and Inquiries Khadim Hussain Channa told ‘The News’ that he is conducting an enquiry of only one matter of advance and doubtful payment of Rs 265.58 million for the construction of landing sheds and he did not receive orders for other matters. He said that the enquiry of the said matter is in the earlier stage so he is unable to share the progress.
Sources said that Sindh Government is not serious in investigating this big scam because of the political backing of responsible persons including former Secretary Dr Laeeq Memon.According to the details, advance payment of Rs 1.411 billion was made to the dummy contractor companies for the ‘Establishment of Bhambor Dairy Village’ Thatta and construction of Sewerage Treatment Plant.
Secretary Dr Laeeq Memon appointed himself as Project Director of these said projects in October 2011.Despite the Audit Department’s recommendation to investigate the matter, Sindh Government is not ready to take any proper action. Apart from this misappropriation of huge amount, it was also pointed out in Audit Report that Rs. 598.70 million was withdrawn from Government accounts without any justified purpose. This matter was also pointed out in September 2012 but no action was taken in this regard also.
Sindh official sets business in Canada after taking Rs2 billion - thenews.com.pk
A fund of Rs2 billion to help sick units was created by the Sindh government in the current budget but it was ensured that the funds were routed through the Sindh Bank.When two members of the board of directors of Sindh Bank and the chairman showed some reluctance, they were replaced and a new board of directors was created by the Sindh government.
Chairman Board of Directors of Sindh Bank then Chief Secretary Sindh Chaudhry Aijaz and Additional Chief Secretary Planning and Development Arif Ahmed were replaced by executive vice-presidents Tajmal Hussain Bukhari and Naeem Ahmed Farooqi as new members.
The replaced chairman and two board members had objected to giving money to Sakrand Sugar Mills, Chambar Sugar Mills, Fauji (Venus) Sugar Mills and Pak Water Bottlers (pvt) Ltd.According to the official figures of Industries Department, number of sick units in various estates of the province is 1,198 and the four units selected by the Sindh Bank were not even running in losses. These units are running profitable units and are not included in the official list of sick units. The majority of sick units lie in industrial estates in Kotri and Nooriabad of district Jamshoro and Korangi of Karachi.
Most of such units are factories which wrapped up operations due to frequent loadshedding of electricity and gas and non-availability of water. Only in Nooriabad industrial estate, 36 units are closed.
Sources of Finance Department Sindh told The News that by providing financial assistance to money-making industrial units owned by political leaders, the main objective of the scheme to revive the sick units was compromised. Circumstances show that the remaining amount will also be provided on political recommendations, the sources added.
The Industries Department, Government of Sindh, on October 25 moved a summary to the Finance Department for the grant of financial assistance to four big industrial units — Sakrand Sugar Mills district Benazirabad (Nawabshah), Chambar Sugar Mills district Tando Allahyar, Fauji (Venus) Sugar Mills Tando Muhammad Khan and a mineral water company Pak Water Bottlers (pvt) Ltd Karachi.
The Finance Department has referred the matter to the Sindh Bank. The matter was brought before the board of directors on November 4, 2013, where Chairman of Board of Directors Chaudhry Aijaz and one member Additional Chief Secretary Planning and Development Arif Ahmed Khan objected to the move.
As a result, on November 6, 2013, the Sindh Government’s Services, General Administration and Coordination Department issued a notification in which chief secretary and additional chief secretary were replaced by the two executive vice presidents of Sindh Bank Tajmal Hussain Bukhari and Naeem Ahmed Farooqi and new board of directors was formed. Now only secretary finance is representing the Sindh government in board of directors of the bank.
New board of directors immediately sanctioned the financial assistance to the said industrial units on political recommendations.
Despite many calls on official phone numbers and cell numbers and text messages, President Sindh Bank Bilal Shaikh and Secretary Finance Suhail Rajpoot attended the phones nor replied to the messages.
Four sugar mills making profit given - thenews.com.pk
KARACHI: Despite the corruption and financial irregularities of Rs 2.748 billion in Sindh Government’s Live Stock and Fisheries Department during the fiscal year 2012-13, Sindh Government is not ready to investigate the matter and take action against those responsible.
Sources of the Department told ‘The News’ that department’s former Secretary Dr Laeeq Memon had withdrawn millions of rupees in the name of different projects and fled from the country.
Interestingly, knowing the fact of his corruption, Sindh Government approved his ex-Pakistan leave for a period of five years. Dr Memon has reportedly established business in Canada and he is not in the mood to return, sources added.
Audit Report 2011-12 of Auditor General of Pakistan available with ‘The News’ revealed the fact that financial irregularities and misappropriation and corruption of Rs 2.748 billion was done in the Live Stock and Fisheries Department during one year. Audit Department pointed out the matter and recommended a thorough investigation of this scam in September 2012, but no proper enquiry was conducted by the Sindh Government. Audit Department also recommended the Sindh Government to fix the responsibility on officials responsible for this corruption and violation of government rules.
Director Anti-Corruption and Inquiries Khadim Hussain Channa told ‘The News’ that he is conducting an enquiry of only one matter of advance and doubtful payment of Rs 265.58 million for the construction of landing sheds and he did not receive orders for other matters. He said that the enquiry of the said matter is in the earlier stage so he is unable to share the progress.
Sources said that Sindh Government is not serious in investigating this big scam because of the political backing of responsible persons including former Secretary Dr Laeeq Memon.According to the details, advance payment of Rs 1.411 billion was made to the dummy contractor companies for the ‘Establishment of Bhambor Dairy Village’ Thatta and construction of Sewerage Treatment Plant.
Secretary Dr Laeeq Memon appointed himself as Project Director of these said projects in October 2011.Despite the Audit Department’s recommendation to investigate the matter, Sindh Government is not ready to take any proper action. Apart from this misappropriation of huge amount, it was also pointed out in Audit Report that Rs. 598.70 million was withdrawn from Government accounts without any justified purpose. This matter was also pointed out in September 2012 but no action was taken in this regard also.
Sindh official sets business in Canada after taking Rs2 billion - thenews.com.pk
