Thursday, April 23, 2009

PAC seeks ruling for PTCL audit …

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Islamabad—A sub-committee of the Public Accounts Committee (PAC) Wednesday sought the ruling from the Chairman PAC for a thorough audit of Pakistan Telecommunication Company Limited (PTCL) as the Etsilat Group was not ready for an audit of the PTCL. The disclosure was made by Director General (DG) Federal Audit Syed Gulzar Hussain Shah during a sitting of the sub-committee of the PAC here at the Parliament House.

Shah told the meeting that despite the fact that the Government of Pakistan owned 67 percent shares of the PTCL while the UAE-based Etsilat Group, who owned only 26 percent shares of the company, was reluctant to go for audit.
He said that not only the government surrendered the administrative control of the PTCL in favour of Etsilat Group who has merely 26 percent shares, but also the government has also paid Rs. 5 crore to the company in this regard.
Sardar Ayaz Sadiq, MNA of PML-N, said that PTCL, which was a profitable institution in the past, had been suffering from losses - thanks to the Etsilat management. Holding former President Pervez Musharraf responsible for the losses incurred to the PTCL, Ayaz Sadiq said the retired General had sold the proftiable PTCL for a mere $249 million.
The PML-N MNA further added that Etsilat Group had destroyed the image and services of the PTCL and the members of the Board of Governors, Ministry of Information Technology (MoIT), have also failed to protect the rights of consumers. Ayaz Sadiq directed the MoIT to brief the committee within a week as how the government could take over the administrative control of the PTCL from Etsilat as the government had withdwan the PTCL control despite being the major shares holder.

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