Islamabad August 26 (Online Int’l): A financial scam of billions has been alleged in Pakistan Petroleum Limited (PPL), a big company of the Ministry of Petroleum, credible sources said on Wednesday.
The managers of PPL while violating the company bylaws allegedly trade raw gas to some private companies. It is worth mentioning here that the PPL had declared private companies prohibited from the sale of gas and rejected their tenders which were presented to them for gas bids. However, later they not only traded low pressure gas to seven private companies, but also extracted billions of rupees from the national exchequer.
The sources said that the PPL employees injected billion of rupees losses to the national exchequer. According to the documents available with this correspondent, the documents alleged billion of rupees corruption but the managers running the company are reluctant to talk over the matter. As many as seven private companies were sold raw gas in the country’s wells. For this purpose, one well from Punjab and four wells from Karachi were selected.
It has also been alleged that MD PPL Moin Raza and General Manager Commercial are allegedly involved. The alleged high-ups are well established in Karachi’s business and political circles and have looted billions of rupees. Earlier, the PPL officials had rejected tenders of private companies for not qualifying for the companies requirements.
When MD PPL Raza was approached in his Karachi office, his secretary said the MD is not present in the office. The personal contact number of Raza was switched off , which he uses to communicate with media-persons.
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