ISLAMABAD - The Bank of Punjab, President Naeemuddin Khan Thursday informed the Senate Standing Committee on Finance and Economic Affairs that the government would auction the confiscated diamond ornaments and watches of Sheikh Afzal, the main accused in BoP scam.

Briefing the Senate Standing Committee on Finance and Economic Affairs that met with its chairman Senator Ahmad Ali in the chair in Parliament House, the BoP President Naeemuddin Khan informed that the government confiscated several precious ornaments of the main accused in the BOP scam Sheikh Afzal, saying that they would be auctioned.

He said the process of auctioning would be done through advertisement in next few days. He said Sheikh Afzal took a loan of some Rs 8.40 billion few years back and Rs 2.50 billion out of the said amount had been recovered from him. He added that the remaining amount would also be recovered from the accused.

Senators showed surprise over the whole episode and asked to call audit firm of the 2008 to explain the details in this regard. Senator Haroon Akhtar Khan said that Committee should summon audit firm whoever audited in 2008 to provide details in this scam. The role of Board of Directors of the Bank of Punjab and official of State Bank of Pakistan was dubious, noted the members of the committee.

 “How can a bank give loan of Rs 9 billion by closing its eyes,” asked the committee chairman Senator Ahmad Ali.