Plea to take cognisance of plunder of national exchequer

Imtiaz Ali Khuhro, chairman Employees Welfare Action Committee of National Development Finance Corporation (NDFC) on Thursday appealed to the Chief Justice Iftikhar Muhammad Chaudhry to take cognisance of worst ever plunder of national exchequer to the tune of Rs 120 billions in the name of merging NDFC in the National Bank of Pakistan (NBP).
Addressing a news conference here at Press Room of the Supreme Court, he said the merging of NDFC in NBP was meant to facilitate the loan-defaulters in connivance with a corrupt lot of the officers of NDFC and former President NBP Ali Raza who has recently been relieved from this position on the directives of the Supreme Court.
He added that under this fraud, the outstanding amount payable by the leading industrialists of the country it was projected in the official documents that NDFC was running in losses, despite the fact that it was fast growing and leading financial institution of the country. He claimed that when the NDFC was merged in NBP its outstanding loans were projected as its losses while its over 700 employees were relieved from their jobs without any benefit.
He further claimed that those officials of the NDFC who remained under arrest by the FIA have been designated as the Recovery Executives of the NDFC section in NBP. He added that this plot had been hatched under the direct instructions of Ali Raza who had close ties with the said defaulters including some tycoons of the cement industry, and that the then Prime Minister Shaukat Aziz also played a dubious role in this regard.
He maintained that no action was taken in this regard due to the influence of Ali Raza in the high bureaucracy, despite the fact that Employees Welfare Action Committee approached all remedial forums for justice to them. He said that ever since the fraud of merging of NDFC was done some ten years ago the families of its 700 employees are made to suffer and now have reached on the brink of starvation.
He said that these people who are guilty of plunder of the national exchequer to this extent, if go scot-free, it would be a great injustice to the nation. He appealed to the Chief Justice of Pakistan to take cognisance of this worst ever plunder of the national exchequer and help the 700 crisis ridden families of the employees of NDFC in the larger interests of justice and humanity.