ISLAMABAD - After the Bank of Punjab scam, another mega corruption scandal of over Rs100 million has surfaced in the Punjab Provincial Cooperative Bank Limited allegedly involving the top management of the bank while the high-up of the bank are being probed by FIA. Unfortunately the bank, which is working for the welfare of poor farmers of the province and has got Rs8 billion after the guarantee of the Government of Punjab from State Bank to run the Banks functions, was defrauded by its own bigwigs. Available document with TheNation reveals that the cheques in splitting amount were delivered in the name of Al-Falah Bank Ltd, Township Branch, Lahore and the same had been tampered by the officers of Al-Falah Bank Ltd and amount worth 101.413 million has been defrauded. Prima-facie, it appears that it has so been caused due to wilful gross negligence, manipulation, connivance, assistance and misconduct of the officers of the Punjab Provincial Cooperative Bank Ltd, Lahore. Names of officers of the Punjab Provincial Cooperative Bank Ltd, Lahore allegedly involved in fraud are Tariq Dar, Farmer General Manager (Signatory of the cheques), Ch Muhammad Boota Sajid, Zonal Head, Lahore Zone (Signatory of the cheques), Mr Tahir Iqbal Butt, Farmer Chief Manager Finance (Signatory of the cheques), Mr Muhammad Nasim, Farmer Acting Senior Manager Main Branch (Custodian of Cheques Books Accounts) and Mr Anwar Saeed-ul-Hassan Butt Acting Manager Treasury (Custodian of Cheques Books Accounts). Moreover, Office Order No. 350, Ref.No. HR/Adm/6335.36, issued on August 3, 2010 confirmed that the Bank had been defrauded and at present put to deprivation of heavy amount. Liaqat Durrani President/ Chief Executive Officer of the Punjab Provincial Cooperative Bank Ltd being a competent authority under Efficiency and Discipline (E&D) Rules of the Bank do hereby place under suspension the above named officers with immediate effect and confine them at their present place of posting till further orders. During the period of suspension they will receive basic pay as subsistence grant as admissible under the rules. Liaqat Durrani President/CEO of the Punjab Provincial Cooperative Bank Ltd, Lahore while exclusively talking to TheNation has informed that more than two months had passed but Federal Investigation Agency (FIA) did not complete its investigation and even no FIR was filed against the alleged culprits till date. He further said that the State Bank was also looking into this matter and was fully informed about this fraud. He further said, The Punjab Provincial Cooperative Bank Ltd, Lahore needs its hefty amount back . Former Registrar of the Punjab Provincial Cooperative Bank Ltd, Lahore on the condition of anonymity also confirmed TheNation about the mega fraud in the bank by its own management. He informed that high-ups of the Punjab Provincial Cooperative Bank Ltd, Lahore did not get approval from the Registrar of the Bank before drawing the amount through cheques from Al-Falah Bank Ltd, Township Branch Lahore. He said that more than ten million had been defrauded but no arrest of the allegedly involved officers of the Punjab Provincial Cooperative Bank Ltd, Lahore were made and even First Information Report (FIR) of the lost cheques was not got registered for prompt action. It is pertinent to mention here that the Punjab Provincial Cooperative Bank Ltd, Lahore provides soft loans on less interest rates to assist the farmers through societies that have got registration under Cooperative Societies Act of Pakistan. Surprisingly, the Bank has not got back its heavy amount even after the lapse of more than two months and even there was no progress appear in the investigation to prove the alleged officers of the Punjab Provincial Cooperative Bank Ltd, Lahore guilty. However, suspicious silence of the concerned banks authority and investigation agency have raised questions that needs due attention to resolve the matter properly. Furthermore, radical changes are required in bylaws of the Punjab Provincial Cooperative Bank Ltd, Lahore for the smooth functioning of the bank and to avoid untoward incidents in the future.