Daily The Business

Five including PPCBL chief held for setting Cooperative Office ablaze

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By M J Hayat


LAHORE: 
Punjab Provincial Cooperative Bank (PPCBL) President Muhammad Ayub and four others have been arrested after the Punjab Forensic Agency and CCTV footage made it clear that a fire was not erupted but was staged to burn the important records of the cooperative societies at the Registrar Cooperative Office at the Bank Square.
The blaze that burned important records of the cooperative housing societies and others related to important cases prompted the Chief Justice in August 2018 to take notice of the incident which finally culminated in establishing the reality that fire was not erupted but staged to burn the important records.
Finally, the police have arrested PPCBL President Muhammad Ayub and four others including electrician Yasir and security guard Zahid Bhatti while Registrar Cooperative Sath Iqbal is still at large.
This was disclosed that computer hard disks were removed before the fire was set up, forensic sources said, adding that the timing of the eruption of the fire was missing in the CCTV footage.
The sources said that 270 employees’ finger prints were sent for the forensic audit, however, IT expert Hafiz Raza’s finger prints made things crystal clear that the fire was staged.
Police sources on the other hand said that the fire was staged by sprinkling petrol on the Registrar Cooperative Office.
PPCBL President Muhammad Ayub is a nominee of M/s Punjab Provincial Cooperative Bank Limited (PPCBL). He was elected to the Board of Directors in August 2014. He is also Chairman of  Board Audit Committee and Board Investment Committee besides member of Projects Strategic Committee.
Ayub is MBA from IBA, University of Punjab – Lahore, DCMA Postgraduate diploma in Cost & Management Accounting from Hailey college of Commerce – Lahore, Diplomat Associate Institute of Bankers Pakistan (DAIBP) – Karachi and LLB from University of Baluchistan.
He has extensively attended local and international professional training courses, workshops, seminars and conferences. Ayub has 32 years hands-on professional experience on senior management positions in the fields of marketing, micro, SME, agricultural credit, recovery, special asset management, legal, credit administration and commercial banking etc. including Chief Operating Officer, AAIMS Consultants, Lahore, Vice-President, Small and Medium Enterprises (SME) Bank Limited, Karachi and Lahore, Regional Manager, Small Business Finance Corporation, Multan and Lahore, Provincial Chief, Youth Investment Promotion, Baluchistan and Served with Wah Nobel Chemicals Limited.

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