ISLAMABAD: The Public Accounts Committee (PAC) of parliament on Thursday strongly reacted over Rs 5 billion losses to National Transmission Dispatch Company (NTDC) due to non-disposal of un-serviceable materials and loss of Rs 330 million due to un-necessary procurement of store items.
The committee directed the NTDC to avoid government rules, un-necessary procurement/purchases and spending public money in such irrational way. The committee was informed that the obsolete material worth Rs 5 billion was not disposed of, and it was lying in NTDC offices in Lahore, Jamshoro, Islamabad and Multan. The equipment was kept in the open and was exposed to adverse environmental effects. This resulted in its deterioration and depreciation with the passage of time.
The PAC was of the view that the trend of keeping inventory is on decline because there is a continue flow of goods in the open market. The PAC urged the NTDC management to make better planning and computerise the stocks and avoid lavish spending. The PAC directed the NTDC to submit details of stocks in the next meeting. The PAC also expressed displeasure over the loss Rs 330 million due to unnecessary procurement of store items. These store items were purchased five to thirty years ago and have not been used since then. The non utilisation of the material indicated that the inventory was purchased without assessing the actual need and there was a remote chance of its further utilisation, resulting in wastage of the resources of the companies.
PAC member Arif Alvi was of the view that it looks as if the NTDC has no inventory policy. The PAC decided that MNA Abdul Manan would check physical presence of the stock at Kot Lakhpat store. The PAC returned the audit observation in Departmental Account Committee (DAC).
The committee also expressed disappointment over giving extra allowances like job allowance, shift allowance, special allowance, design allowance, head office allowance, WAPDA allowance and others during 2010-11 without the consultation and approval of the Finance Division. Violation of the instructions of Finance Division resulted in irregular payment of allowances of Rs 142 million.
While the MD NTDC insisted that the board of directors of the company allow permission of such allowances as per rules of law, additional secretary of the Ministry of Water and Power said that the audit objection in this case is not valid because its BoDs allowed it. After the dispute, the PAC decided to hold a meeting with the top officials of the Law Division, Ministry of Finance and PAC members to resolve the matter once and for all.
KARACHI - Former Pakistan cricket captain Wasim Akram survived an attack on his car near National ...