Company funds misused Karachi — defence?
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Company funds misused Karachi — defense The corporate house of Pakistan is known for its shady dealings in the recent past, the latest scandal having taken the form of the disastrous purchase of 100 helicopters from China, which may well have cost us much more than the 60 million dollars that we paid for them. While we might have been justified in paying such a huge sum in the eyes of China, the real question is how the government came to be misled into making such an inappropriate decision.
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I have been practicing as a defense lawyers in karachi for the past 20+ years. I have personally experienced a situation where a company has misused company funds to the extent that it has affected our client. This has happened to many families and not just once. click site We can get many instances of this in every city but unfortunately, it is rare. The company in question was a defense company. The misuse of company funds amounted to about Rs. 20 million. The client, a retired army officer, suffered significant financial loss due to this
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Karachi has been embroiled in a controversy surrounding funds misused for defense purpose. It all began in 2012 when the Army’s General Headquarters (GHQ) was accused of sending 63 tons of fertilizer worth Rs 130 million from Karachi to Kurram Agency. However, a report by the Inspector General (IG) of the Army’s Intelligence Division, Gen Ziauddin, has revealed that only 30 tons of fertilizer was transported to Kurram, while
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“In the last few years, Karachi has experienced numerous incidents where public funds were misused, leading to a complete collapse of law and order in Karachi. The police are incapable of stopping the corrupt system, making it a breeding ground for the growth of crimes. The city has experienced a surge in crime rate, which is not satisfactory for the law enforcing agencies. The police have failed to provide a secure environment to citizens, leading them to feel vulnerable and unsafe. There have been cases of extortion, bribery,
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Karachi has long been known for being a capital of corruption. he has a good point The lawless nature of this city led to the setting up of several companies and the plying of these companies with public funds is a common practice in Karachi. Defence Lawyer Siddiqui said, “It’s a common practice in Karachi to divert money from public funds to companies. These companies were established during emergency periods and they had all legal and administrative procedures in place. Mostly, the authorities failed to maintain accountability and transparency in their transactions with these companies.
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It is well known that defense department misused company funds to pay salary to political employees. According to sources, a contract worth Rs 300 million has been given to a contractor and the department has used this company for payment. According to the sources, the contract is for two years, but the contract is expired already. I do not know the details about this but this contract should be stopped as soon as possible. This case also shows how department is indulging in corruption, nepotism, and bureaucratic malpractices.