Rs. 410 Million Stolen from Bank Accounts of Overseas Pakistanis Through Forgery, Senate Body Told

The Senate Standing Committee on Finance and Revenue met under the Chairmanship of Senator Saleem Mandviwalla on Wednesday. Additional Director General FIA and Acting CEO of a Private Bank briefed the committee on Rs. 410 million missing from accounts of overseas Pakistanis in the Karachi Branch and action taken in this regard. During the meeting, the Additional Director General of FIA reported that certain documents related to the case were sent for forensic examination and it was discovered that forgery had been committed through the use of fake signatures and cheques. The official also mentioned that physical evidence had been received and a First Information Report would be filed against those involved in the embezzlement within a week. The committee stressed the importance of justice in this matter and directed the acting CEO of the bank to cooperate fully with the FIA. Additionally, the Committee requested a fact-finding report on the issue to be presented in the next meeting. The complainants were also allowed to present their plea before the committee. Furthermore, the committee addressed the subsidy claims related to Al-Madina Floor Mills in Aza Khel, District Nowshera. Directing prompt resolution, Secretary Ministry of National Food Security and Research assured the committee of forwarding a summary for a technical supplementary grant to the Finance Ministry. The Secretary Finance pledged swift resolution by endorsing the summary, underscoring the government’s commitment to resolving key economic issues. The Government Bill titled ” The Deposit Protection Corporation (Amendment) Bill, 2024 and “The Banking Companies (Amendment) Bill, 2024 were taken up for consideration. Secretary Ministry of Law and Justice briefed the committee on the bills. The committee, after deliberation, deemed it prudent to defer these bills to the incoming Parliament, given the imminent establishment of a new parliamentary setup. The meeting was attended by Senators Sherry Rehman, Farooq Hamid Naek, Saadia Abbasi, Zeeshan Khanzada, Kamil Ali Agha, and Manzoor Ahmed Kakar, alongside key government officials including the Secretary of the Ministry of Finance, Secretary of Law, Secretary of National Food Security and Research, Governor of State Bank, Acting CEO of a Private Bank, and Additional Director General of FIA.