PIA Press Statement status
Sat, 10 Jun 2017 08:59:46 +0000
Editor,
The statement that this institute is stable is quite misleading. PIA has failed to supervise effectively the pension schemes as per its mandate. Surely, if it is working accordingly, why did it take so long to find out that such colossal funds were transferred to offshore accounts without the Ministry of Finance or resolution of the Board of Trustees? This only came to light after some trustees raised concerns. We are also reliably informed that recently, some directors were fired for abusing Pension Funds at a named bank. Additionally, this entails that the Ministry of Finance is not doing enough to monitor the operations of the PIA. As such, this puts too much pressure on the Office of the President. It cannot be business as usual. Bells must toll on all.
Deprived pensioner
Author
