Doing business in Pakistan is extremely difficult for telecom operators, not only because of tough regulations and high taxes but also because of a multitude of issues faced by cellular operators in executing technical and financial operations, including scams.
In such a case, Ufone lost Rs 12.9 million due to a scam involving corruption by a UBL’s employee some eight years ago. According to an official, the National Accountability Bureau (NAB) has carried out an investigation inquiry and detained a UBL employee by the name of Syed Altaf Hussain.
Altaf Hussain finally reached a conviction in an Accountability Court-IV after eight years of the conclusion of legal investigation.
The court announced a sentence of 14 years imprisonment for Syed Altaf Hussain along with Rs.12.9 million fine.
Altaf Hussain was a teller in UBL and misappropriated Ufone vouchers to the tune of Rs.12.9 million.
During the month of July 2007, the accused, who was a teller at the UBL Hamid Square Branch, did not credit the amount received from Ufone agents while stamping 91 Ufone slips worth Rs 12.9 million. The amount was later claimed by Ufone and refunded by United Bank Limited (UBL).