Zulfiqar Mirza has admitted on live television that he secured a loan in violation of rules from a bank, on the basis of political influence to set up a sugar mill which he owns. Credit must be given to him for at least accepting that he has committed a wrong. The same unfortunately cannot be said about others, who claim to be clean and virtuous and act to be holier than the pope.
A loan taken from any bank without equity is in violation of rules and as such an irregularity. Such loans have been given in the past and continue to be given and in most cases they end up in default. This started in ’60s when Ayub Khan abused his authority so that Habibullah could secure a loan without sufficient equity to purchase Gandhara Industries.
Financial crimes and bribery are now considered perks of political power, or the right of those holding public offices, including the paid servants of state. They say that behind every such success story, where individuals overnight in a matter of few years go from rags to riches there is small crime.
Unfortunately in the case of Pakistan, such irregularities have become a norm and are now regularized through abuse of power by those who are paid, or elected to serve as custodians of constitution and our national exchequer.
State and evacuee property are considered kosher for occupation by those wielding power. Our national security is jeopardised from within by those with an insatiable greed for quick bucks and affluent traders who do not pay taxes. Flight of capital is facilitated by those who in spite of holding dual nationalities continue to hold public offices in Pakistan and whose policies decide the fate of a country where they have no stakes, nor any commitment. Without rule of law and accountability, Pakistan cannot develop. We either enforce rule of law, or slide to become another Somalia or Afghanistan.
MALIK TARIQ ALI
Lahore
All those who have taken loans from banks, including the National Bank, exceeding Rs5 Crores should be thoroughly investigate for their equity and irregularities. Ali Raza the former Pres of NP was notorious for such financial crimes. This list if published will lift the veil off many crooks and white collar criminals.
Request to the President ! you have got more than enough, now please turn the country to honesty, sincerity,development and progress in order to make you the real hero of the Nation. You really do not need anything now except sincere steps. Please do not forget that the God has given you the respect, the honour and the opportunity that you could have never imagine!!
Comments are closed.