Published On: Sat, Nov 16th, 2019
Published in Category: Islamabad

Corrupt HBFC’s Recovery Officer palys havoc with organization

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Islamabad: Alleged corruption and nepotism surfaced in House Building Finance Corporation, a sub-body of the State Bank of Pakistan, sources said on Friday.

A recovery officer of third party has dragged the officers of the department in court after allegedly committing hundreds of thousnads of rupees corruption.

It is pretinent to mention here that Federal Investigative Agency (FIA) and other agencies has started monitering of the officer.

A credible source said no other department then State Bank can induct employees of its sub-department and it’s a clear violation of the State Banks rules and regulations. But in connivance with an influential officer of Lahore Region , Recovery Officer of Muzaffargrah branch Manzoor Malik has given the loans to hundreds of people on bogus documents of the property. Then he used to take these cases to the court of law for recovery without doing proper investigations and in this way he made the organization penniless.

He also doled out Rs 2.5 million to his friend Muhammad Riaz in Liyah against the mortgage of a house which had been sold earlier by Riaz to one Allah Ditta . He also signed the papers but he is working on the third party contract and he was not authorized to sign the official documents.

The sources told this reporter that the HBFC id on the radar of FIA and other investigation agencies and it is very much likely that soon the case of mega corruption against the department might be made.