Where Billions Vanish

The good prof is worried about 400 million wasted. At least there is some equipment to show for, some worthless research papers to read. How about the billions written off as bad loans under unstructions from the govt. Is there any accountability for that. The last write off was 125 billion, prof saab, read again, it is 125 billion.

From jang of today


"According to press reports, the Supreme Court has taken serious notice of the fact as to how banks wrote off a staggering amount of Rs125 billion as "bad debts" during the 2000-2006 period, against Rs30 billion written off during 1985-1999. It is reported that larger number of loans have been written off under Circular No 29/2002, issued by the State Bank of Pakistan (SBP), of which major beneficiaries are politicians and industrialists. The criminal culpability of successive governments in this matter has tarnished the image of Pakistan in the eyes of global community as a haven for the corrupt, plunderers and tax evaders.