The Public Accounts Committee orders the FIA to seize Hascol’s property and bank accounts.

The Public Accounts Committee (PAC) met today in Islamabad under the chairmanship of Member of National Assembly (MNA) Noor Alam Khan, and members directed the Federal Investigation Agency (FIA) to take Hascol Petroleum Limited’s property and bank balance.

The committee members looked into HASCOL’s and a publicly traded petroleum company’s outstanding debt. Participants observed that HASCOL is a defaulted corporation, and the other petroleum company has also failed to pay the Government of Pakistan Rs. 44 billion.

Following careful consideration, the committee members directed the FIA to take HASCOL’s property and bank balances.

The committee was also told on the former government’s $3 billion loan to 600 people at 0% interest rate, and it directed the FIA to give the list of these people after Eid-ul-Fitr. The committee has also directed that the homes, bank accounts, and properties of those on the list be seized.

Members raised the issue of foreign institutions operating in the local market and addressed the awarding of contracts worth Rs. 22.78 billion to three Chinese firms.

China Construction Industrial & Energy Engineering Group (CCIEE) was awarded a Rs. 17.69 billion contract for a 500 KV transmission line from Suki Kinari to Neelum Jhelum, according to audit officials. However, throughout the bidding procedure, pre-conditions for picking the company based on its experience were neglected.

The officials further stated that a contract for Rs. 868 million for the Shikarpur grid station was awarded to a Chinese joint venture without following norms, and that the Chinese JV was also awarded a contract for a World Bank-funded 220 kV grid station.

The PAC committee directed that the subject be sent back to the Departmental Accounts Committee for immediate facilitation and resolution.

The PAC committee also studied the Power Division’s Audit Report 2021-22 and noted significant load-shedding across the country in recent weeks.

In another matter, committee members expressed their displeasure with the significant load-shedding observed throughout Ramazan. The chairman of the committee stated that directions from Prime Minister Shehbaz Sharif and Energy Minister Khurram Dastgir Khan regarding the holy month’s load-shedding programme were disobeyed.

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