BoP Scam — The Fix Is On Again

So much for “free judiciary”! Appears the Bank of Punjab Scam is all set to be swept under the rug along with other such scams not even getting a mention.

Today we hear NAB is all set to “plea-bargain” with the suspects (Haris Steel) and give them a “clean chit”:

NAB may accept plea bargain by BoP culprits
“Wednesday, December 02, 2009
By Usman Manzoor

ISLAMABAD: All is set for the culprits of the Bank of Punjab (BoP) Rs 9 billion fraud, the biggest scandal of the country’s banking history, to negotiate a plea bargain with the National Accountability Bureau (NAB) and get a clean chit…”

That this is happening is really no surprise. Remember the guys heading NAB are the very same ones appointed by Musharraf under who’s watchful eye, this and other such scams were perpetrated.

What this story fails to mention (as does this story in The News) is that the BoP scam is not a scam of Rs 9 billion but Rs160 Billion plus and the main beneficiaries are the Chaudhrys of Gujrat and guys like former Chief Secretary of Punjab, the then Chairman Board of Directors, BoP (and today Federal Secretary Finance — yes, the fox is guarding the hen-house) Salman Siddique.

Also no mention is made of the fact that these culprits also robbed Faysal and Allied Banks the same way but no mention is being made of that.

Other scams making news today:

Most of Rs100bn loans written off in Musharraf era
By Rauf Klasra

ISLAMABAD: Industrialists, military men and politicians have got loans of over Rs100 billion written off from banks since 1985, the National Assembly Secretariat record has revealed.

A big chunk of loans was written off during the regime of former President Pervez Musharraf.

The beneficiaries also included politicians-cum-industrialists and a group of the print media that later joined the electronic media….

Babar sees it (loan-defaulters) as mother of NRO

ISLAMABAD: Minister for Parliamentary Affairs Dr Babar Awan on Tuesday said from 1985 to 1993 and from 1999 to 2003, loans amounting to billions of rupees obtained from 30 banks and financial institutions were written off.

Talking to media persons here, the minister said three big business families, three influential political families and retired generals borrowed the credit. He described the waiving off of the loans as the “Mother of the National Reconciliation Ordinance (NRO).” He said the record of all those, who got the loans waived, was available with the National Assembly.

He said the loans were waived from 30 banks and financial institutions. They included the Habib Bank, National Bank, United Bank, Pak-Kuwait Investment Company, Saudi-Pak National Development Finance Corporation, Industrial Development Bank, Muslim Commercial Bank, Pak-Libya Holding Company, Investment Corporation of Pakistan, Allied Bank, Zarai Taraqiati Bank, Regional Development Company, TFC, National Investment Trust, Small Business Finance Corporation, CB Fund, Services Corporation, National Industrial Corporation and Mercantile Finance….

(No surprise he also does not name names for that will have to include Gilani’s wife, among others. Also don’t forget Gilani’s wife’s name was on the list of NRO beneficiaries NAB first handed to the parliament but was removed at PM’s protestations. Five other names removed were Syeda Samina Abrar, Anwar Nasreen, Ziaur Rehman, Khalid Hussain and Nasreen Munawar Chaudhry , ALL partners-in-crime of Mrs Fauzia Yousaf Gilani)

Allotment of state land in Karachi being probed, SC told
ISLAMABAD: The Supreme Court (SC) was informed on Tuesday that an inquiry was underway into the allotment of 50-acre of state land in Karachi to a private party at throwaway prices by the Sindh Revenue Department….

…Earlier on November 6, Sindh Advocate General Yousuf Leghari had told the court that 1,500 people were allotted thousands of acres of state land in Sindh during the past 10 years at throwaway prices (e.g. Rs 10 per sq ft)…..