PESHAWAR (Baaghi TV) – September 11, 2025: The latest audit report (2023–24) on the Khyber Pakhtunkhwa Oil and Gas Company (KPOGC) has uncovered serious irregularities in financial management, asset control, and decision-making.
The report stated that under the Council of Common Interests (CCI) decision, each provincial holding company was allotted one oil and gas block without bidding. KPOGC opted for the Lucky Block, a choice auditors described as unwise, resulting in wasted time and resources.
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It further revealed that the company failed to recover over Rs 3.9 million owed by Sui Northern Gas Pipelines Limited (SNGPL), raising concerns over ineffective financial controls. The audit also pointed out mismanagement of assets, noting that vehicles worth Rs 59 million were registered in the name of the provincial Energy Department instead of the company, and were later used elsewhere. This practice was deemed illegal and reflective of weak governance, forcing KPOGC to recall the vehicles.
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Auditors recommended a full inquiry into the selection of the Lucky Block, urgent steps to recover dues from SNGPL, and measures to ensure timely payments to operators in order to avoid foreign exchange losses. They further stressed the need for structural reforms, warning that without stronger internal controls and accountability, KPOGC risks continued financial losses and missed opportunities in Pakistan’s energy sector.
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