A meeting of the Public Accounts Committee (PAC) was held under the chairmanship of Member of National Assembly (MNA) Noor Alam Khan in Islamabad on Tuesday, where members discarded the issue of $3 billion in interest-free loans given to 628 people under the Temporary Economic Refinance Facility (TERF) during the previous government’s tenure.
The committee met behind closed doors after the central bank governor’s recent pleas for privacy. At the meeting, the governor of the State Bank of Pakistan (SBP) briefed members on the details of the $3 billion loan scheme.
After being briefed on the subject, several PAC members voiced their resentment against Chairman Noor Alam Khan’s suggestion to forward the case to the Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) for further inquiry.
Members opined that it would harm the industrial sector. Without going into further arguments on the issue, the committee decided to relinquish the case.
Source: Pro Pakistani