After the verdict of the Supreme Court based on deep probe and honest devotion of duties made impartially in the national interest, the picture of conspiracy became clear in the case of Steel Mills.
Likewise it became pertinent that privatisation of all institutions in the past should be probed through an independent commission, public accounts committee, headed by the Honourable Chief Justice of the Supreme Court of Pakistan or through a bold person like Chief Justice Syed Iftikhar Muhammad Chaudhry.
Though it is the practice of corrupt regimes of this country that honest persons like him will be soon replaced or removed but they cannot be stopped from doing their job.
I was connected with the then Australasia Bank Ltd since 1968 which was merged with other banks and nationalised in 1974 and renamed as Allied Bank of Pakistan Limited. Upto 1999 I have personally witnessed all foul plays and changes of management which looted the bank with both hands and forfeited the rights of poor employees, which can be proved through documentary evidence as to how misappropriations were done and high executives have raised their assets.
On one occasion a conspiracy was planned by the executives and president of the bank with the collaboration of high level officers of the privatisation commission, Ministry of Finance and a scheme to purchase the shares of the bank by its own staff in the name of ESOP (Employees Stock Ownership Plan) was launched and each staff member was forcibly cheated for the sake of their service and funds collected from them even by selling their household articles.
They have been shown sweet dreams that soon they will become millionaires and those who did not agree were victimised and removed from service. It can also be verified that 25% shares were sold and proper document/agreement of sale was also prepared.
Unfortunately after change of government soon, the bank's president was removed and some executives of the bank and officers of the Finance Ministry were taken to task but no benefit to poor employees.
On the contrary the new-comers have made a new plan and forcibly by harassment and unfair means repurchased the shares from the employees at cheaper rates and sold to the present management on high rate who paid high price of bribe and commission, despite new management gaining benefit of 100 times more than they invested.
It is my request to all connected honest persons and channels to help the poor effectees of the Allied Bank and arrange enquiry for redressing compensation and providing justice as they have been ruined badly.