Pakistan's prime minister has suspended a board member of the Pakistan Telecommunications Authority (PTA) for allegedly causing losses to the state of 7.61 billion Pakistan rupees (Rs7.61 billion).

Syed Nasrul Karim Ghaznavi is accused of non-encashment of a letter of credit (L/C) as well as several other financial irregularities at the PTA.

Extended favours

The head of finance for the government agency for the establishment, operation and maintenance of Pakistan's telecommunications sector is alleged to have extended favours to various companies.

One of these was the non-encashment of a Rs530.8 million standby L/C.

Irregularities

Other alleged irregularities include the failure to collect Rs5.55 billion of revenue from wireless local loop license holders and failing to recover Rs628.93 million due from small companies.

Ghaznavi is also accused of erroneously depositing state funds of Rs820.918 million.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.