Pakistani Ruling classes plunder public money
Parliamentary Affairs Minister Dr Babar Awan has disclosed that three political families and some retired army officers got millions of rupees bank loans waived from 30 banks across the country between 1985 and 2003. Without giving details, he said the National Bank of Pakistan had been the main sufferer. A report on this corruption by influential people has been tabled in the National Assembly. Separately, the NA's Public Accounts Committee also sought details of the writing-off of 1,000 Industrial Development Bank of Pakistan loans amounting to Rs 14 billion. Federal minister Syed Naveed Qamar also divulged in the NA the other day that a total of about Rs 60 billion of bank loans have been written off during 1999-2007. Most written off loans were obtained by cement, textile and sugar industries. The Punjab Bank waived Rs 608.74 million and the National Bank of Pakistan Rs 6109 million. The First Women Bank wrote off Rs 12.3 million, SME Bank Rs 1.239 billion, the IDBP Rs 10.763 billion and the Bank of Khyber Rs 1.124 billion. A total of Rs 127.485 billion of loans have been written off between 1999 and 2007 alone. If calculated banks have been writing off loans worth trillions of rupees between 1985 and 2007 and political people, army institutions and industries in addition to influential individuals have been the beneficiaries. This is not all because as, upon the directions, the State Bank has been submitting to superior courts lists of the people obtaining huge loans from almost all Pakistani banks and then getting them written off. What is even more deplorable is that all such scams have gone unnoticed and no corrupt people have ever been proceeded against under any law of the land. No government has ever seemed pushed about this colossal bank robbery particularly since 1985. This is because all political parties, military establishment, business barons and industrial tycoons belong to one ruling class that have virtually developed mafias that are sucking the blood of the common people already subject to severe economic miseries. Banks around the world work for the betterment of society and the welfare of the people but in Pakistan they serve only the already rich and influential. Stopping this corrupt practice is almost impossible at least for the political administration because top bosses are hand in glove with bank loan mafias. In fact, all those belonging to the ruling class are working like mafias. As such, the people cannot expect justice from any government. The only way left may be a judicial commission to probe into this alarmingly high corruption. As a last hope the Chief Justice of Pakistan should appoint a commission to inquire into the issue in depth at least since 1958, fix responsibilities, get the plundered public money back and inflict exemplary punishment on those who have and continue to harm the national and public financial interests. We may request the apex court of the country to also slap disqualification on corrupt political people from pursuing their political ambitions because no corrupt deserves a place in a legislature and government.

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