Punjab government waives off farm loan of jailed Pearl group MD

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Punjab government waives off farm loan of jailed Pearl group MD

Punjab government officials have waived off the loan of Pearl Group managing director Sukhdev Singh as part of the farmer loan-waiver scheme.

Punjab government officials have waived off the loan of Pearl Group managing director Sukhdev Singh while many of the actual debt-ridden farmers are committing suicide for their names not being included in the list of beneficiaies of the loan waiver.

Sukhdev Singh has allegedly got his name included in the list of economically weaker farmers and has got a loan amounting to Rs 1.74 lakh waived off.

Raghuveer Singh Sandhu, deputy registrar of cooperative societies, Punjab, said that the allegations on Sukhdev Singh will be investigated.

Accused of committing Chit Fund and other scams, Singh was arrested by the CBI in 2016. He had raised a loan from Cooperative Society Jaliyan in Rupnagar district.

State government sources said that the concerned cooperative society official has been asked to submit a report within two days.

Punjab chief minister Captain Amarinder Singh on January 7 had launched the debt waiver scheme which kicked off controversies as the farmers who had not provided their Aadhaar details were not considered for the waiver.

The state government is waiving off loans of 5.63 lakh farmers who had raised loans through the cooperative societies in the first phase.

Further, the state government also plans to write off loans raised from nationalised banks.

A total waiver of Rs 2700 crore will be made in four phases of the scheme.