ISLAMABAD: Public Accounts Committee (PAC) has shown dissatisfaction
over the accounting system adopted by Ministry of Information &
Broadcasting and Ministry of Commerce and directed both the ministries
to bring transparency in their financial matters by containing
expenditures within their budget.
The meeting of Public Accounts Committee was held with MNA Zahid Hamid in the chair at the National Assembly on Monday.
Deputy
Auditor General of Pakistan, Tahir Ali told the committee that a sum of
Rs. 115 billion were recovered from various ministries and government
departments on the order of PAC, out of which recovery of Rs. 71
billion were made during financial year of 2010-2011. Only Rs 33
billion were recovered from the oil companies. Now PTA has also been
directed to get back Rs 41 billion from the mobile companies. He told
that this amount was misused due to corruption, discrepancies and wrong
interpolation of the law.
The committee reviewed the accounts
and audit objections raised by Auditor General for the period of 2002
to 2004 regarding Ministry of Commerce and Ministry of Information
& Broadcasting. The committee also directed the Ministry of
Commerce to dispose all the case, which are laying pending in different
courts within three months.
Chairman State Life Insurance
Corporation of Pakistan Shahid Aziz Siddiqui told the committee that
his department had invested Rs 20 billon in the stock market many year
ago resulting the company gained profit and now this amount has reached
to Rs 50 billion. The committee declared that the investment of Rs 20
billion made by former Chairman Zaheer Khan in Chakwal Cement Company
was illegal and sought the report of the matter within one month.
Committee
has also taken serious view on not returning Rs 100 million by Shan
Refinery to State Life. The corporation purchased the share of the
refinery but neither profit was given nor the capital amount returned
yet.
Secretary Information Taimoor Azmat Sultan said that the
now ATV is being run by the administration of PTV. First it was given
to a contractor Jabbar, which was already defaulter of Rs 260 million.
MD
PTV Yousaf Baig Mirza told the committee that loss of PTV had reached
to Rs one billion in 2009 but the management took various measures for
revenue generation due to which the institution gained profit of Rs 150
million. Online
