SECP Imposes Stringent Restrictions on Loan Apps and borrowers
The SECP has introduced new regulations for digital nano-lending apps in Pakistan....
Automakers Under FIA Probe for Overcharging Customers
The Public Accounts Committee (PAC) has opted to refer the issue of car manufacturers demanding excessive payments from customers to the Federal Investigation Agency (FIA).
Senator Saleem Mandviwalla shared the report of the sub-committee established to address the matter of customers being charged excessive payments.
Mandviwalla highlighted that the sub-committee’s suggestion involves reimbursing customers for the surplus payments collected by manufacturers.
Committee Chairman MNA Noor Alam Khan noted substantial payments extracted from customers. He added that the committee is forwarding the issue to the FIA. Khan emphasized that car manufacturers initially demand complete advance payments and subsequently request further payments from customers.
The committee also instructed the inclusion of officials from the Auditor General’s office, the Engineering Development Board, the Ministry of Industries and Production, and the Ministry of Commerce in the investigation.
In a distinct issue, the committee ordered an audit of appointments conducted by the Federal Public Service Commission over the past fifteen years.
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