Summary Grave irregularities have been found in loans given to politicians, civil and military bureaucracy.
ISLAMABAD: Dunya News has acquired the report prepared by the commission headed by Justice retd Jamshaid Ali.
The commission, formed at the orders of Supreme Court of Pakistan, has released the report that shows massive irregularities in the disbursement and waiver of the loans.
The State Bank of Pakistan had revealed in the Supreme Court that loans worth Rs 281 billion waived off between 1971 and 2009 but the commission only probed 740 different cases but could not get the proofs about waiver on political basis.
The report says that bank officials conceal the facts because they were afraid of the influential persons. The bankers have given only business reasons for the writing off the loans.
The report says that loans worth Rs 2.38 billon were waived off between 1971 and 1991 whereas loans worth RS 84 62 billion were waived off between 1992 and 2009.
The commission has proposed that another 222 cases should also be probed as Rs 35 billion has been waived off in these cases.
The commission has given some options about the recovery of waived off loans but says the ultimate decision in this regard will be taken by the Supreme Court.
