Missing persons and five crore rupees
Some ex-employees of the National Bank of Pakistan have moved SC against the Bank President’s 5th extended term in office. When he was initially appointed his salary was fixed so high not ever seen before and which became topic of columns, articles and even two editorials from national dailies. The plea taken in the petition is that the rules do not allow more than two extensions while it is 5th for him; the 5th one to accommodate him well in advance. The petition claims that only to keep him in office, General Musharraf amended the relevant law. The petition mentions achievement to his credit as writing off loans amounting to Rs. 26.886 billion during his tenure, holding two positions viz President of the Bank as well as the Chairman of the Board contrary to law itself. The day the news about this petition appeared the same day also appeared a very meaningful column from a well senior columnist Rafiq Dogar. In reference to the recent remarks of Chief Justice of Pakistan on the Sialkot incident, he very meaningfully wrote that more than one a half dozen honourable judges of the most powerful Supreme Court of the time have not been able to put any dent in getting back Swiss money, getting Swiss cases re-opened, getting the letters written to the Swiss etc. Voices have started coming in that what rosy picture the black coats movement painted in which the masses participated the first time with true emotional enthusiasm after Pakistan Movement painted, not even a single dream is near to see the light of the day. For example police brutality is the same. No police officer is afraid of from the S.C. SC took notice of fuel charges, in return the electricity charges keep increasing this year so far 4 times. SC ordered sugar at Rs. 40/-, it is today at Rs. 80/-. May it be flogging of a women, civil defence wardens dismissal from service the super courts start taking notices least caring when there is no implementation it automatically affects the common man's thinking that these Courts too are just killing routine time like rulers and politicians. There is no use if leaving one suo moto hanging in balance to start a new one as do the TV channels by taking one scandal over another but never telling complete. Today Perhaps the Chief Justice Itikhar Mohammed Chaudhry does not remember that after his 21 July 2007 restoration he took a suo moto notice of the NBP President pocketing five crore Rupees as an Award for his good work. The Bank lawyer told the Chief Justice that the President of the Bank in his other capacity as Chairman of the Board fixed five crore rupees as award out of which he awarded himself only three crore and two crore to others. The Chief Justice remarked that this amount should better had been spent on retired NBP employees and the case was adjourned for next hearing. Before the final decision could come the Chief Justice became "non functional" in the words of Dr. Shahid Masood an Islamabad Police Officer stated "Dr. Sahib chief justice called us in the court, Haam Nay pooree Adalat hee urra dee hay". First bring that old file of that suo moto notice of five crore rupees self award from the stores and then hear the present one otherwise people confidence and hope will keep receding. Otherwise the wise bureaucracy is behind rulers, corrupts, self awarders etc. The deposed judges got public sympathy and prayers in their troubled time only due to missing persons case. Today the clever bureaucracy has very wisely snatched the case from hands of Chief Justice under a famous technique of “if nothing is to be done then make a Commission and over that a new Commission”. When Chief Justice was hearing missing persons case at least in a week or two there used to be a small news item since taking over by the Commission even the Chief Justice does not today remember if there was any case named missing persons case. Almost every week there was Swiss case follow up, today no body hears it name as the tactful bureaucracy in order to help the corrupt rulers for their own interest has camouflaged it under a new created Irfan Dair, NAB chairman appointment etc.
"The petition mentions achievement to his credit as writing off loans amounting to Rs. 26.886 billion during his tenure, holding two positions viz President of the Bank as well as the Chairman of the Board contrary to law itself. "
Contained in that statement is the answer itself -- he writes off the loans of the powerful.
Just want to add: What is worse is that this fella's brother was made the Governor, State Bank of Pakistan. So the only body to check NBP wrongdoings was in his pocket as well. How was that allowed itself speaks volumes.
Some related stories:
(NBP the only bank funding/facilitating RPP scam, LPG scam, many others)
Well the first article linked above is too informative not to be quoted in full
One has to wonder why the National Bank of Pakistan the only government owned commercial bank is the only commercial bank that will fund projects like the RPP’s that are owned by Iqbal Z. Ahmed and Anwar Majeed. Or extend loans to companies that give Mir Raza son of Ali Raza allocations of LPG without him having a LPG marketing company at the time the allocation was originally given, though with the money that was made from the allocation for several years they used to set up the marketing company/bottling plant. It is not secret that all projects that Mr. Zardari’s front men wanted funded are being done so by Mr. Syed Ali Syed Ali Raza President of National Bank of Pakistan (he enjoys the protocol of a Chief Minister while moving from one place to the other and also extended to his son, daughter n daughter in law) who’s brother Mr. Syed Salim Raza an ex-Citibank Private bank employee who was implicated in the US Senate money laundering report to have opened Swiss bank accounts for the President in violation of Citibank’s own policies and is currently the Governor of the State Bank of Pakistan! Is this a quid pro quo pay off by the President for Salim to keep his mouth shut about the accounts details of which he clearly knows about having been in charge of EMEA accounts under which Pakistan feel during his tenure with Citi. His younger brother Ali who right after the elections went to meet President Zardari by asking Mr. Anwer Majeed to arrange the meeting was told by the President in that very meeting to do any and everything that Anwer wanted,” as he was his mentor”. Low and behold right after that Ali Raza funded all Anwer Majeed’s favorite projects and is ordered what to do by his older son AG Majeed. It would be interesting to note Anwer has gained the reputation of being the most powerful man in Pakistan and is known to get whatever he wants done by all Government Ministries/Institutions. He has had 2 of his sons' father-in-laws appointed to high posts. Mr. Shaukat Tarin got be Finance Minister and Farooq Rahimatulla Chairman of an oil company! Majeed and Zardari decided that they wanted to also expand their joint business empire and Ali Raza even went to extent of canceling the loans for Dewan Groups sugar and cement mills to enable the Anwar Zardari team to buy these assets at throw away prices, something that they are still trying to do. Anwer has also managed to have the ECC (the chairman of which is his son’s father in law i.e. Shaukat Tarin) ban the export of molasses to enable the famous E-10 policy of blending ethanol into petrol be implemented into Pakistan.
The blending of ethanol with petrol was tried by the previous Government and failed as it was not feasible but with the Zardari government in power and he himself owning so many sugar mills there was a sudden U-turn. It would be interesting to note that PSO is being used to implement this project as mode of delivery and the only sugar mill/distillery that bid for the supply of the ethanol to be used for blending with petrol for the project is Naudero and belongs to the Majeed/Zardari team! Rumor has is all other mills were told to stay away from the bidding for supply of ethanol if they knew what was good for them.
The RPP funding especially of Iqbal Z. Ahmed’s/Anwer Majeed partnership projects which were ram roded through and for which even the rental power policy were changed are all miraculously being funded by guess who? Yes it is once again Mr. Syed Ali Raza and National Bank of Pakistan to the rescue.
Why must one ask? Is it that another extension to him is on the cards?
Is 10 years not enough as NBP President? Meetings that are held for these projects at NBP are attended by AG Majeed and Iqbal Z Ahmed though Anwer Majeed is not a partner on paper for these projects. These projects were so unfeasible that Mr. Masood Karim someone who was known to be Ali Raza’s lap dog when asked to jump would say how high even resigned from the bank as his department corporate banking was being forced by Ali to fund these projects!
One can only wonder how dangerous funding of these projects will be for the NBP an institution. Ali Reza is the only head of a Government Institution/ Bank who has got such high salary and bonuses that no Govt functionary could ever dream of. How could this be allowed.
Supreme court also took suo moto notice but it was thrown on the back burner. He started receiving bonus for last 4 years but when informed the National Assembly it was shown as recieved over ten years. He has a dozen security guards at home besides police guards and mobiles and owns Bullet proof BMW 7 series air lifted and gifted by Yusuf Dewan, Mercedes top of the line, Toyota BMW Range Rover SUV's,Toyota Camri, Corollas parked outside his house and most of them rusting. Which Governor, Chief Minister or Federal Minister can match Ali Reza in perks, privilege and protocol?