Scotland Yard seeks access to accused in Imran Farooq murder case

KARACHI: Speaking in his programme, ‘Aaj Shahzeb Khanzada Kay Sath,’ on Tuesday Khanzada said that there was some progress on Imran Farooq murder case as the Scotland Yard sought access to the accused in this regard.
Commenting on a serious issue in banking sector, Khanzada said that the shares of a certain bank jumped to Rs3 with a surge of 90 percent. The very next day the same shares slid down causing a fall of the stock market. Small investors suffered a lot in this situation. The incident also triggered a legal battle between the State Bank of Pakistan (SBP) and a commercial bank concerned which would ultimately affect $100 million Chinese investment in the country. The KASB Bank had to face certain curbs imposed by the SBP because the bank failed to fulfil the condition of Rs10 billion paid-up capital.
Khanzada said that four other banks also failed to fulfil the condition of paid-up capital but the SBP decided to sale out only KASB Bank. The KASB Bank somehow managed to persuade a Chinese firm for investment in order to meet the condition of paid-up capital. The Chinese firm told the SBP that it would invest $100 million, however, the SBP expressed interest in selling KASB Bank to a local Islamic bank.
Speaking in the programme, State Minister for Water and Power Abid Sher Ali said that the PML-N-led government should not be compared with PPP’s past regime. The PML-N government added 1,500MW electricity to the national grid. He said that Nandipur Power Project failed due to corruption of the previous regime and the national exchequer suffered a loss of Rs104 billion. The project which produced 200MW, would be completed and fully functional by the end of May. Two generators of Nandipur Power Project had become operational while the third one would be ready soon. He said that Sindh owed Rs63 billion for electricity Nisar Khuro said that Sindh had been protesting and complaining about its grievances. Only in 2010, the provinces were given

autonomy. He said that urban as well as rural areas in Sindh were facing different types of problems. The rural areas of the province were deprived of even electricity and water. He said that new provinces could be carved out only after the consent of the provincial assembly concerned. He said that PPP ruled for five years but never bothered to carve out any new province in the Punjab.
PML-N leader Zaeem Qadri said that the PML-N was not against carving out new provinces on administrative basis but no province should be made on caste or linguistic basis. He said that new Punjab governor would be appointed by May 11.
Geo correspondent Murtaza Ali Shah said that the British government had sent several requests in the past a few months to Pakistan for the custody of accused in Imran Farooq murder case. Britain had also issued details and pictures of Mohsin Ali Syed and Kashif Khan Kamran, believed to be in the custody of Pakistani authorities.
Meanwhile, in a press release, the spokesman for the Finance Ministry rebutted some media reports which were purporting that the ministry was interfering with the affairs of KASB Bank.
The spokesman clarified that the SBP under Section 47 of the Banking Companies Ordinance 1962 had requested the federal government for placing the operations of the KASB Bank under moratorium for a period of six months which was duly approved. Subsequent to the moratorium, the SBP was dealing with all the ancillary matters related to the KASB Bank without any interference from the Ministry of Finance.
The spokesman added that the SBP was a fully competent statuary body established under SBP Act 1956 and entrusted with the responsibility of being the chief regulator of the Banking Companies and Finance institutions.