960423

Change of UBL

managment

after PM's

approval: Naveed

ISLAMABAD: Chairman Privatization Commission Syed Naveed Qamar Tuesday said, the change brought about in the administration of the United Bank Limited (UBL) is under the powers of the State Bank of Pakistan (SBP) and in accordance with the approval of Prime Minister. He said, the government has taken great strides toward strengthening the economy of the country.

Naveed Qamar said, the Opposition has time and again confessed about the financial state of the UBL but it does not admit to having brought it to the brink of disaster with the yellow cab scheme in its tenure.

Chairman Privatization Commission said, everyone is aware of the fact that Nawaz Sharif initiated the yellow cab scheme as a political bribe for his workers.

He said Nawaz Sharif issued verbal orders to the banks to extend hefty loans to his people.

Naveed Qamar said if the Leader of the Opposition has any objection to the transparent privatization carried out by the government, he should it bring it out with solid proofs.

He said, while privatizing various units the government has never preferred its workers .-APP