Read this Dawn Editorial:
DHA crisis
It tells us that DHA-Islamabad has trapped itself into a debt of Rs12bn. One of the banks to which the money is owed is Askari Commercial Bank, which like the DHA, is an arm of the military’s Army Welfare Trust.
Hmmm...Army eating their own? But this is no surprise. Often hailed as the "only functioning institution of Pakistan", it is interesting to note that it is the same efficient army that had appointed as head of the Army Welfare Trust the same guy they had removed as Corps (Crore?) Commander Lahore -- Lt. General Zarrar Azim, famous in Lahore Real Estate circles as General Zarrar Zamin -- for extreme corruption (it is common knowledge here that he took $10,000 as commission for every plot sold in DHA, Lahore when he was the Corps Commander here and he could be found any day at the office of Chohan Real Estate)
This appointment of Zarar Azim as head of Army Welfare Trust was certainly a PROMOTION as he got to fool around with MUCH BIGGER entity. That DHA-Islamabad has run into financial difficulties is thus no surprise. I am sure Zarar has made off with billions more and he still will NOT be punished. (Any one have an idea where he is today?)
(It is no different that Gilani promoting both Latif Khosa and Babar Awan after their hanky-panky was caught.)
For those who are not familiar, here is a list of AWT's Business Units:
Listed Companies
> Askari Bank Limited
> Askari Leasing Limited
> Askari General Insurance Company Limited
Other Companies
> Askari Cement Limited
> Askari Aviation (Pvt.) Limited
> MAL Pakistan Limited
> Askari Guards (Pvt.) Limited
> Askari Enterprises (Pvt.) Limited
Askari Projects
> Askari Sugar Mills
> Askari Farms and Seeds
> Askari CNG
> Askari Shoe Project
> Askari Woolen Mills
> Askari Real Estate
