PTV asked to stop business with defaulters
ISLAMABAD, April 12: Sub-committee of the Senate Standing Committee on Information and Broadcasting has directed the management of the Pakistan Television (PTV) not to undertake any business deal with the firms which have defaulted.
The sub-committee also issued directions to expedite recovery of long-outstanding dues to the tune of Rs1.7 billion from major advertisement agencies.
The sub-committee, which met at the Parliament House on Saturday presided over by Senator Tariq Azim Khan, called for streamlining the procedures for assessing the credit-worthiness of various potential clients by acquiring the services of professionals from the private sector, a participant at the meeting told Dawn .
Taking notice of the fact that most of the amount was due to advertising agencies for a period of two to five years, it said that little or no effort was made for the recovery as the owners had influence in the PTV administration as well the previous government.
Expressing its concern over bad debts which are posing a serious threat to its financial health, the sub-committee observed that it was public money which ought to be utilised judiciously, adding that the office of the credit controller must be separate and independent of the sales department to avoid any possible clash of interests.
The members of the sub-committee urged to place a proper system of check and balance to improve the situation and bring the national organisation back on track.
Managing Director PTV Yousuf Baig Mirza earlier explained before the Senate body that bad debts of the corporation amounted to only two per cent of the total turnover, which, he said, was a sound indicator of its financial health.
He said that a turnaround was soon expected as more stringent and transparent procedures were being adopted for entering into fresh business deals.
Source: Dawn
Date:4/13/2008
” 
” 
” 
” 
