Daily Times

ISLAMABAD: The State Bank of Pakistan (SBP) has recommended the government to sack Housing Building Finance Corporation (HBFC) Managing Director Pervaiz Saeed. The SBP Governor in a letter said Saeed was charged for plundering million of rupees in the name of salaries, allowances and renovation of his house illegally. A special inspection team of the SBP has started a probe against the HBFC MD after taking all records into custody. The team has also submitted a report to the bank Governor in this regard. The report alleged that Saeed took millions of rupees more than his salary fixed by the Finance Ministry and plundered hefty funds in the name of leave fare assistance (LFA) without the permission of the board. The report added that the HBFC MD was also charged to use millions of rupees from the national exchequer in the name of club membership. The SBP governor said the HBFC has reached the edge of destruction owing to Saeed’s corruption. Transparency International has also raised its voice against his corruption. According to its report, HBFC officers Yousaf Nasir, Adil Saleh and Abdul Waheed are getting Rs 1 million each and Ashraf is taking more than Rs 800,000 while the MD is also receiving millions of rupees in salary. Saeed is in the good books of the Sharifs as he has served them well in the past.