KARACHI: In joint press conference prominent industrialists and business leaders from various trade organizations including Korangi Association of Trade and Industry (KATI), Federation of Pakistan Chamber of Commerce and Industry (FPCCI, and Karachi Chamber of Commerce and Industry (KCCI), SITE, BQATI, FBATI, NKATI, LATI, SITE Superhighway, Association of Builders and Developers (ABAD) and other trade associations came together to demand thorough investigation into misuse of cheque bounce law.

President of KATI Johar Qandhari expressed concern over new method of fraud targeting industrialists and businessmen, leading to unwarranted arrests and extortion attempts. He revealed his personal experience of facing false allegations based on bounced cheques, emphasising that he had no connection with plaintiff and presented call data records as evidence. Industrialist asserted that FIR against him was result of fraudulent scheme, raising suspicions of potential involvement of bank staff. He criticised lack of verification by bank when declaring cheque as bounced and urged for comprehensive investigation.

FPCCI senior Vice President Saqib Fayyaz Maggoo condemned misuse of cheque bounce law, emphasising its original purpose to benefit the business community. He appealed to higher authorities to provide protection to businessmen in face of such incidents.

Asif Sum Sum Chairman of ABAD called for implementation of proper procedures in handling cheque bounce cases, urging action from Chief Minister Sindh, IG Sindh and Karachi Chief to address issue. Javed Bilwani Coordinator of Textile Exporters Forum commended Qandhari for exposing fraudulent activities and called on all town associations to bring such matters to light.

Published in The Daily National Courier, March, 12 2024

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