PAC directs inquiry against: PD officials for depositing billions in 10 private banks

ISLAMABAD: The Public Accounts Committee (PAC) Thursday directed the Privatisation Division (PD) to hold an inquiry against its officials for making investment of billions of rupees in 10 private banks in violation of rules and also fix the responsibilities against those officials who were found responsible in the inquiry.

PAC also directed the Privatisation Division to submit a report to the PAC Secretariat within one month’s time.

It also directed the Privatisation Division to recover the actual amounts of investment and interest from another private bank in which the investment of Rs500 million.

The meeting of the Sub-committee of the PAC was held with the chair of its Chairman Rana Tanveer Hussain in which the audit paras related to Privatisation Division for the year 2012-13