US $ four billion lent on zero-interest in PTI rule, PAC told

ISLAMABAD: Public Accounts Committee (PAC) of the National Assembly was informed that four billion US dollars were given on zero-interest rate in the PTI tenure, ARY News reported on Wednesday.

The disclosure made in the PAC session chaired by its Chairman Noor Alam Khan. “One billion dollars were provided to a petroleum company, while three billion dollars given to 600 people on zero-interest rate.”

The PAC has summoned the list of 600 persons, who borrowed three billion dollars on zero-interest, from the Federal Investigation Agency (FIA) after Eid.

The PAC also directed the FIA to take homes, bank balance and properties of the 600 beneficiaries of the loan in its custody.

Chairman PAC Noor Alam Khan has said that former governor State Bank Reza Baqar and former minister of finance Shaukat Tareen have been involved in the dubious transaction of four billion dollars.

A member of the committee Birjis Tahir said in the session that four billion dollars were provided on Rs 160 per dollar exchange rate. ” US dollar has soared to 280 rupees, which is more than 900 billion rupees of the national economy,” he said.

The Public Accounts Committee in a previous meeting summoned the Supreme Court registrar for skipping the audit of the apex court for the last 10 years.

The PAC chief took notice of not conducting an audit of the Supreme Court during last 10 years.

The PAC chief summoned the Supreme Court registrar after Eidul Fitr holidays into the matter.