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Rs 2.76 Billion were leaked from the fund for the pension of the employees and widows 2.76 Billion were leaked from the fund for the pension of the employees and widows
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Islamabad: The Public Accounts Committee dug out a Mega Scam of the Federal Employees Benevolent Fund as Rs.2.76 Billion were lost in the name of the Investment. This investment was made from the fund which was formed for the pension of the government employees, widows and their siblings. The sources were told that the said investment was made in different private entities belonging to fertilizer, telecom, CNG stations and textile sectors. Public account committee of national assembly took serious notice of the story and asked the authorities to probe into the matter. It was further revealed that no formal approval was sought prior to this wasted investment. This is how the public money is being used for personal gains and no one is there to stop this practice. The irregularities on the part of the authorities didn’t stop here as it was learnt that house rent for employees was raised to 90 percent. This overpayment caused a huge loss to the fund of 16.26 million rupees. PAC demanded a comprehensive inquiry as it sniffs the involvement of the whole board of the Federal Employees Benevolent Fund.

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  • arham says :

    2016-05-26 01:24:04

    PAC?well lets see if it could be probed or not..its not just the board of the fund which is corrupt,its about the whole system.

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