ISLAMABAD, Oct 26 (APP): The news items published in a section of the media titled “Power Division misspent Rs.3 trillion, points out AGP”, is factually incorrect and out of context of the Audit Report ignoring the basic parameters and procedure of audit in general and taking out headlines of choice in particular.
The Power Sector’s overall market revenue per annum is Rs 1.4 trillion therefore the question arises as to how Rs. 3 trillion is misspent out of a total market share of Rs 1.4 trillion in one year? The Power Sector spent around Rs 200 Billion out of Rs.1.4 trillion market share on development projects in a year which also casts doubts on Rs.3 trillion misspending as reported by the news item, said a statement issued by Power Division here Monday.
The finality of irregularities or mismanagement is vested with the Public Accounts Committee therefore reporting the Audit Report before its finalisation by the relevant forum does not serve the purpose of fair reporting for fair public opinion. It is also worthy to add that a Departmental Accounts Committee (DAC) comprising of DG (Audit) Power and Power Division’s representative, has already discussed these paras and the DAC issued directions to all entities of Power Sector for verification of records and submission of their revised point of views based on rules and regulations.
It is more of a question of difference on point of interpretation of rules and regulations by both sides which if goes in disagreement will be submitted for final decision by the Public Accounts Committee.
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