The young man was a petty cashier at an international bank in London. He committed a bank fraud that became the biggest fraud of the 20th century. He would steal a penny from every account and deposited it into his sister’s account. He did this continuously for 15 years until he stole millions of pounds from clients’ accounts.
He was caught on a complaint by a Jewish businessman, who had been watching his bank statement minutes for several months and he noticed that his account was losing a penny every day.
He went to the bank manager and showed him his bank statements.
He demanded an investigation into the issue.
The manager thought the Jewish businessman was mad; he laughed and took out a pound from the drawer and placed it on the Jewish businessman’s palm and said:
“Take this, sir, I’ve made up for your loss.”
The Jewish businessman got angry; he scolded the manager and said:
“I don’t lack wealth, I just wanted to tell you guys the weakness of your system.”
When the businessman left the bank, the manager realized the seriousness of the complaint.
It was a London fraud but a fraud is also happening in Pakistan.
This fraud is related to money coins. The currency of Pakistan was launched on 1st April 1948. There were six coins in this currency. One rupee coin included ‘Athni’, ‘Choni’, ‘Dwani’, ‘Akni’, ‘Adh Ana’ and one paisa coin.
These coins continued to run until January 1, 1961. In 1961, President Ayub Khan implemented the indexation system in the country, after which the rupee became a hundred paise, while the ‘Athani’, ‘chuni’, ‘dwani’ and ‘pai’ were abolished and replaced by fifty paisas. Coins of paisa, ten paisa, five paisa and one paisa were introduced.
These coins continued till the reign of General Zia-ul-Haq, but later on they were gradually phased out until today the smallest coin is one rupee and for the last thirty years we have had one paisa, five paisa, ten paisa and twenty five paisa. Why didn’t you see the coin?
As the State Bank is not issuing these coins, but you see the brilliance of the government, whenever the government increases the price of petrol, gas and electricity, it includes rupees as well as money, for example, take the latest increase in petrol. The government has increased the price of petrol by 5 rupees 92 paise, after which the price of petrol has increased to 62 rupees 13 paise, the price of high speed diesel has increased to 62 rupees 65 paise and the price of light diesel has become 54 rupees 94 paise.
Now the question is, there is no money coin in the country, so when a person pours a liter of petrol, the cashier of petrol pump will give him back 87 paisa…? No he will not at all so he will have to pay Rs 63 instead of Rs 62…
Why is this abuse…?
Now look at the more interesting situation, 3 lakh 20 thousand barrels of petrol are sold in Pakistan every day, if you calculate it in litres, it becomes 5 crore 8 lakh 80 thousand liters. ..?
This is Rs44.2 million daily.
This amount is not final because not all people buy petrol, consumers also buy diesel and kerosene and most people buy five to 40 liters of petrol and to a large extent this money is converted into rupees, but despite this there is money manipulation.
If an economist researches this issue, multiplying this manipulation of money by months, months, years and years by 30 years, it will become billions of rupees, as if our government machinery has been feeding a few secret companies for 30 years. It is benefiting billions of rupees and the government doesn’t even know…
If we find the answer to this question, it will prove to be the biggest scandal in the history of Pakistan.
It may also be that the volume of this corruption is not four and a half crores of rupees, but despite this, the question will remain in its place that when the State Bank is not issuing coins, why is the government measuring the currency in coins and we Why pricing in ’round figures’…?
Let us change Rs62 and 13 paise to 62 rupees or even 63 rupees so that both the government and the consumers get convenience. Bureaucracy does not repeat a mistake which does not benefit it…!!!
This is the biggest ongoing fraud in Pakistani history.
