Economics & Business

NA refers KSE scandal, wheat scams to finance committee

ISLAMABAD: National Assembly Speaker Dr. Fahmida Mirza has referred to its Finance Committee the matters of Stock Market Scandal of 2005 that resulted in seven hundred billion rupees loss to the investors and scams in wheat purchases inflicting losses of Rs. 45 billion.

The action was taken after the Privatization Minister Syed Naveed Qamar announced Friday that the previous government’s privatization would be audited. Former government’s financial scandals remained under discussions during the question hour of the National Assembly session here and it was subjected to sever criticisms. To a question, Finance Minister, Ishaq Dar told that the former government earlier exported wheat at $200 per ton and later on imported the same wheat at $500 per ton incurring huge loss to exchequer.

He said that in order to avoid any such crisis 1.5 million tons of wheat was now being imported that would cause losses of Rs. 44.9 billion to country in current financial year. Similarly, the nation was robbed of billions rupees in Karachi Stock Exchange scandal-2005, he added.-SANA

About the author

Rubab Saleem

Rubab Saleem is Editor of Pakistan Times

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *