PPP Demands probe in Dry Port at Sust on Pak-China border

Islamabad—Pakistan Peoples Party has demanded a
thorough probe into the alleged bungling and malpractices in the Silk
Route Dry Port Trust (SRDT) to redress the grievance of stake holders
who had made huge financial contributions for the setting up of the dry
port trust.
In a statement on Monday Syed Naveed Qamar MNA and president of the
Economic
Coordination Committee of the PPP demanded the carrying out of a
detailed audit of the accounts of the Trust.
"The reports that no annual audit and no meeting of the general body
has
been carried out during the past six years despite protestations by
investors also needs to be probed".
He said that the dry port was set up at the border town of Sust in
Hunza
to facilitate border trade between China and Pakistan and any scandal
leading surrounding it could create law and order situation that would
negatively impact on the border trade with China.
Syed Naveed Qamar said that local community members claim to have made
an investment of over 17 million rupees in the project by donating land
and cash. However they have not even been shown the accounts of the
Trust let alone paying them any dividend.
The Trust management had not yet a single annual general meeting of the
trustees during the past six years as is required under the law. Local
investors have also flung accusations that two fictitious companies
have
been formed by the management to skim off the profits that belong to
the
actual investors.
Syed Naveed Qamar said that the laws pertaining to Trusts were very
clear. Elections to the office of Chairman have to be held every two
years and its accounts have to be regularly audited by external
auditors, he said.
The reports that neither elections to the office of Chairman have been
held nor the accounts audited during the past six years are most
disturbing and must be investigated by the Central Board of Revenue and
the Securities and Exchange Commission of Pakistan, he said.
"We are witnessing another brewing financial scam this time in the
Northern Areas close to our borders with China".
He said that if the relevant government agencies failed to investigate
the allegations it would not only lend credence to the suspicions that
some powerful people are involved in the scam but also adversely affect
the border trade between the China and Pakistan.