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Rahu alleges Sindh Bank being used to plunder national wealth

Rahu alleges Sindh Bank being used to plunder national wealth

BADIN: President of the Sindh chapter of the Pakistan Muslim League-Nawaz (PML-N) Ismail Rahu on Tuesday alleged that the Sindh Bank had been established and operated to plunder the national exchequer through a few people sitting within the provincial government.

He was responding to the media’s questions regarding the ongoing investigation into alleged misappropriation of Rs700-750 million recently drawn from the bank by managers of a sugar mill in Khoski in the name of small agricultural loans meant for growers.

Mr Rahu was on a visit to a village near Rahuki to hand over an aid cheque to the heirs of a couple who had committed suicide due to poverty about three weeks back.




The PML-N leader said that the National Accountability Bureau and the Federal Investigation Agency should thoroughly investigate the matter and help prosecute those who defrauded growers and the bank. He said his party fully supported the affected growers. He claimed that the cartel that had monopolised the sugar industry in Sindh had not only been undermining the industry but also causing huge losses to cane growers by denying them a reasonable price for their produce. In the name of reviving the sick industry, the cartel was syphoning away the bank capital on the pretext of agricultural loans, he alleged.

Expressing his party’s full support for the ongoing drive against corruption across Sindh, Mr Rahu observed that the Pakistan Peoples Party government had damaged every institution over the past seven years.

Earlier, Mr Rahu handed over a cheque for Rs500,000 to the heirs of a couple who had committed suicide in the village due to poverty.

Mr Rahu met the couple’s young ailing children, one of them blind, and told the media that on his recommendation Prime Minister Nawaz Sharif granted the aid for the children’s treatment.

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