ISLAMABAD: The Senate Standing Committee on Finance, Revenue, Economic Affairs and Narcotics Control would be briefed on Wednesday (October 18) on financial fraud amounting to Rs1.5 billion from accounts of Abandoned Properties Organization (APO).
The committee, which is scheduled to meet under the chairmanship f Senator Saleem Mandviwalla, would be given detailed briefing by the State Bank of Pakistan (SBP) on the issue here.
The National Accountability Bureau (NAB) would also present its progress report to the committee on the amount recovered by the bureau from illegal Modarba companies and distribution among the Modarba effected persons.
The senate committee would also be briefed by the Federal Board of Revenue (FBR) on the audit of withholding taxes collected by the telecom sector, the notification added.
The Securities and Exchange Commission (SECP would present its compliance report on the implementation status of the recommendations made by the committee in its meeting held on September 13, 2017, on the alleged corruption of $17.5 million in the Multan Metro Bus Project.
The SECP would also present its progress report on the alleged manipulation of share price of Bank of Punjab (BoP) underwriting of shares along with details of shares purchased and sold by the management and Directors of BoP from January 2015 to March 2017, as recommended by the committee in its meeting on August 23, 2017.
