An inquiry commission report on loans has been prepared which will be submitted to the Prime Minister’s Office next week. According to news reports, it took 9 months to prepare the debts report which revealed that 300 persons belonging to two dozen companies misused billions of foreign loans taken between 2008 and 2018.
The Inquiry Commission report identified kickbacks, misuse of powers, and theft in several development projects. The Commission also pointed out how the money in the credit scheme was transferred to private officers by government officials, private contractors, politicians and ministers in the PPP and PML-N government.
The inquiry commission has identified 200 key personalities belonging to 23 institutions, who made lucrative transfers of Rs 450 billion from 150 schemes through 220 private accounts. The loyalties of some of them were reported to PML-N, PPP and PTI. The Inquiry Commission has received a complete record of 420 foreign loans received by the government under the Inquiry Act.
The Inquiry Commission has been the focus of some controversial projects. Like the BRT Peshawar project, which cost increased from Rs 30 billion to Rs 75 billion and Neelam, Jhelum hydropower project cost increased from Rs 84 billion to Rs 500 billion.
The Commission also reviewed the increase in public debt and liabilities which increased from Rs 6690 billion in 2008 to Rs 30846 billion in September 2018. The Commission received details of 1020 schemes from 2008 to 2018.
Some of the major projects that came under the scrutiny of the commission include raising the level of Mangla Dam, Rahim Yar Khan, Chishtian, Vehari, Gujarat, Shalimar, KVT Line, Diyarma Bhasha Dam, Gomal Zam Dam, Pitt Feather Canal expansion, construction of Shaadi Cor Dam and sixty development projects in Gwadar District.