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$6m stolen in 23 minutes through int'l ATMs, Senate told.

ISLAMABAD -- State Minister for Finance and Revenue Hammad Azhar Friday said that Bank of Islami's $6 million were stolen within 23 minutes on October 27, 2018 through international ATMs.

Responding to the question of Senator Mushtaq Ahmed in Senate, he said the amount was stolen from 6,000 accounts being maintained by Bank of Islami, he said adding however that the amount of account holders were absolutely safe and the monies withdrawn from customer accounts has been deposited in the respective accounts.

He said State Bank of Pakistan (SBP) has made effective measures to further tighten cross border transactions.

He said SBP has developed a road map for added strength of the information security controls of Pakistan's banking industry and instructed the banks to take necessary measures to identify /counter any cyber threat to their systems in coordination with all the relevant stakeholders including payment schemes, vendors etc.

Suzuki car production down by 40pc

Adviser to the Prime Minister on Commerce Abdul Razzaq Dawood Friday said that the production of Suzuki has been reduced by 40 percent in the country due to bar on non-filers to buy cars.

Answering the question of Senator Muhammad Javed Abbasi, he said the car manufacturers were delivering the cars to buyers within the 60 days of booking.

He said a car manufacturer, if failed to deliver the car within 60 days despite receiving advance amount of Rs 500,000, will have to pay the interest to the buyer.

He said the ministry of Industries and Production has announced Automotive Development Policy (2016-21), according to which price and delivery schedule, not exceeding two months, has been fixed at the time of booking.

Moreover, in order to expand automobile market and facilitate in creating competitive environment under ADP 2016-21, thirteen new investors have been granted Greenfield status.

In addition, under Brownfield category two closed down units have been revived. He hoped that the new automobile manufacturers/makes will soon improve the market situation including availability of car at reduced prices, and offer vehicles to the public that have quality, safety and environmental features.

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Publication:The Nation (Karachi, Pakistan)
Date:Dec 22, 2018
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