FPCCI reveals Rs 2,500 billion debt scandal

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Finance Minister Shaukat Tareen calls for high level inquiry into mismanagement of loans, demands FPCCI (Photo: File)
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Finance Minister Shaukat Tareen calls for high level inquiry into mismanagement of loans, demands FPCCI (Photo: File)

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Islam Abad: The Federation of Pakistan Chambers of Commerce and Industry has said that mismanagement of loans has caused a loss of Rs 2500 billion to the country, which should be investigated at the highest level.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has included representatives of the Federation of Pakistan Chambers of Commerce and Industry in negotiations with the IMF. Has demanded a high-level inquiry.

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The FPCCI has proposed to the Finance Minister for inclusive talks with the International Monetary Fund. In this regard, the FPCCI has also written a letter to Finance Minister Shaukat Tareen. And Chairman Policy Board with the signatures of FPCCI and former Commerce Secretary Younis Dhaga in which FPCCI has demanded a high level inquiry from Finance Minister Shaukat Tareen on mismanagement of loans. It has been said that mismanagement of loans has caused a loss of Rs 2500 billion to the country.

In addition, the FPCCI has also called it an unfair move to increase interest rates to 13.5 percent, saying that for the first time in the country’s history since 1952, GDP has gone negative, negotiations with the IMF. Representatives of the Federation of Pakistan Chambers of Commerce and Industry should also be included and the mismanagement of loans should be doubled so as to prevent damage to its national exchequer.

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