Cabinet committee to present report tomorrow

BoK scandal

PESHAWAR: The Khyber Pakhtunkhwa government has decided to present in the provincial assembly on Monday the report of the four-member cabinet committee investigating the allegations and counter-allegations by provincial Finance Minister Muzaffar Sayyid and Managing Director of the Bank of Khyber Shamsul Qayyum against each other, sources said.

The sources told this scribe that the provincial government’s decision to present the report in the provincial legislature would quell the aspersions surrounding the story of the allegations and counter-allegations levelled by the finance minister and the Bank of Khyber (BoK) head and subsequently played up by media since April 14 after the publication of an interview of the finance minister.

The source quoted the chief minister as telling his cabinet colleagues that the BoK was established under an act of (Bank of Khyber Act, 1991) of the assembly so the provincial legislature is the custodian of the sole financial institution of the province. The chief minister reportedly said that the provincial assembly is the best forum to take any decision on the report of the cabinet committee and even other matters related to the bank.