Corruption worth Rs1.45b surfaces in tractor subsidy scheme

A complaint was lodged with the Anti-corruption Establishment on March 07, 2017 against the massive corruption in tractor subsidy scheme of Sindh Agriculture Department.

As per the record retrieved from the Agriculture Department and thorough investigation into the matter, it was brought to the forefront that a huge fraud been conducted in the Tractor scheme.

The inquiry into the matter revealed that accused Shahzad Riaz, CEO of M/s Shahzad Trade Link, an agent of Belarus Tractors, was responsible for handling the delivery of tractors to farmers under the subsidised tractors scheme, from 2009 to 2012.

Shahzad Riaz was responsible for delivery of tractors to farmers and subsequently claiming a subsidy of Rs.300000/= per tractor. As many as 5780 tractors were purportedly delivered by Shahzad to farmers. In actuality, not a single delivery had been made. Hence the alleged pocketed subsidies worth Rs.1.45 billion fraudulently.

 

Must Read

Honda Atlas Cars’ Profit-after-tax down by 62%

Honda Atlas Cars (Pakistan) Limited (HCAR) reported a nearly 62% drop in profit-after-tax (PAT) for the quarter ending September 30, 2024, compared to the...