ISLAMABAD -  The National Assembly’s standing committee on finance expressed its displeasure over the unsatisfactory and slow performance of National Accountability Bureau (NAB) in the Rs18.5 billion fraud committed in National Bank of Pakistan’s Bangladesh operations.

Thus, the body decided to write a letter to the National Accountability Bureau (NAB) chairman for quick disposal of the matter.

The NAB director general informed the Committee about the inquiry status with regard to NBP Bangladesh scam. He said that NAB has completed his work for launching reference against the accused. However, its final approval was awaited from the executive board and the NAB chairman. He added that NAB would be able to register the references in the court after two weeks.

The Committee was of the view that NAB has already taken lot of time for preparing the references. There, the committee unanimously decided that a letter would be written to Chairman NAB for quick disposal of the matter.

Earlier, in January 2017, the NAB officials informed the committee that reference would be filed in next few days. However, it had not filed it yet. In January 2014, Rs18.5 billion fraud had been surfaced in the Bangladesh operations of NBP. The NAB has prepared reference against 16 officials including four Bangladeshi nationals.

The parliamentary committee held under the Chairmanship of Qaiser Ahmad Sheikh. While considering the petition regarding NBP pensioners for periodical increase in pension, the Committee was informed by the petitioners that since last more than 07 years NBP increased only 3% pension in 2012.

However, government has increased pensions approximately 15 % for each year. The Committee has shown its deep concern on the issue and recommended to NBP for increasing the pension to their retired employees. The NBP president assured the Committee that matter would be considered on priority basis, however they need at least one month in this regard.

 The Committee was briefed by the President, ZTBL and CFO regarding actions taken by the Bank for suitable reduction in high markup rates on the loans of agriculture sector along with their regional comparison. ZTBL President informed the Committee that currently ZTBL was dealing about five hundred thousand customers by providing micro finance up to 2—2.5 lac. He said that ZTBL was also paying 7.5 % interest against 56 billion lending to SBP, which was the major cause for higher markup ratio on agriculture sector.

After discussion the Committee unanimously recommended that government should reduce the interest ratio for agriculture loans up to single digit. The members were also of the opinion that markup ratio on agriculture lending be equal to industrial loans.

The Committee was informed by the Chief Financial Officer (CFO) ZTBL with regard to revamp strategy of government for ZTBL that a dedicated team was working for making the institution as technology based organization under the supervision of Ministry of Finance. He said that agri bonds would also be introduced in the market and retail functioning of the Bank may be initiated shortly. He further informed that ZTBL will install ATMs for their customers/farmers.      

The meeting was attended by Dr Shizra Mansab Ali Khan Kharral, Sheikh Fayyaz-ud-Din, Mian Abdul Mannan, Ms. Shiza Fatima Khawaja, Ms. Leila Khan, Dr. Nafisa Shah, Syed Mustafa Mehmood, Mr. Jehangir Khan Tareen, Mr. Asad Umar, Mr. Abdul Rashid Godil, MNAs, besides the senior officers from Ministry of Finance, FBR, NBP, ZTBL and NAB.

IMRAN AL KUNDI