PTCL told to pay Rs 4 billion arrears to PPC -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

PTCL told to pay Rs 4 billion arrears to PPC

ISLAMABAD: A sub-committee of the Public Accounts Committee (PAC) on Friday directed Pakistan Telecommunication Company Limited (PTCL) to immediately pay Rs 4 billion it owes to Pakistan Printing Corporation (PPC).
It also directed the Cabinet Division to charge mark-up if arrears which had been due for the last 20 years were not paid within a month. The directions were issued during a meeting of the sub-committee. Yasmeen Rehman chaired the meeting, which examined the audit paras of the Cabinet Division accounts during 1988-89. The cabinet secretary said the PPC’s losses had exceeded Rs 1 billion and the government might sell some of the corporation’s prime properties for debt payment. The sub-committee regretted the National Archives Project, conceived in 1963, could not take off despite the passage of PC-1 (project concept) and the availability of funds. It also said the departmental accounts committee (DAC) met only once (on January 4, 2009) in 40 years. He said the project’s cost jumped from Rs 5 million in 1963 to Rs 58 million in 1988. “It’s the worst example of mismanagement,” the chair observed.

Source: Daily Times