dishonesty
Billions of rupees corruptions in national banks were alleged in the federal cabinet meeting on Tuesday.
The investigation report compiled by the State Bank of Pakistan officials states that influential individuals and companies with the alleged facilitation and support of the national banks involved in billions of rupees corruptions.
The revelation was made in the Cabinet meeting held in the chair of Prime Minister Imran Khan in Islamabad on Tuesday.
The influential individuals and companies have links with ‘the government’, the report reveals. The corruptions were done in the form of loans right off, have taken by influential individuals and companies.
The report states that many national banks righted off billions of rupees loans to easy influential individuals and companies. Four national banks rights off over 4 billion rupees loans taken by individuals and companies.
The government-run banks rights off Rs270 million in 28 cases while 970 million rupees were righted off.
The State Bank of Pakistan has directed actions against the national banks for their alleged involvement in corruptions and corrupt practices, the report states.
Strict action would be taken and heavy fine can be imposed if action against the banks involved in corruptions is not taken, the report states.
The report will be submitted in the standing committee on Finance for further review and recommendations.
The cabinet meeting has given approval for further action after taking review of the corruptions and corrupt practices.
Meanwhile, the meeting also discussed overall political and economic situation of the country.
