A meeting of the Public Accounts Committee (PAC) was convened in Islamabad, chaired by MNA Noor Alam Khan. The committee focused on the matter of $3 billion in interest-free loans granted to 628 individuals through the Temporary Economic Refinance Facility (TERF) during the previous government’s tenure.
Closed-door Meeting on $3 Billion Loan Scheme
In response to the recent appeals for privacy by the central bank governor, the PAC conducted the meeting behind closed doors. The governor of the State Bank of Pakistan (SBP) presented a comprehensive briefing on the intricate details of the $3 billion loan scheme.
PAC Members Express Concerns Over Further Inquiry
After being apprised of the loan scheme, several PAC members expressed their disapproval regarding Chairman Noor Alam Khan’s proposal to refer the case to the Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) for additional investigation. Members voiced concerns about the potential adverse effects on the industrial sector. Following a brief discussion, the committee decided to relinquish the case, avoiding any further deliberation on the matter.
