ISLAMABAD, September 05 (Online): Following the failure of recovering Rs 746.8 million from 3 major sugar mills by Trading Corporation of Pakistan (TCP). Public Accounts Committee (PAC) has referred the matter to NAB under the directives that investigation into the matter be finalized as soon as possible.
According to documents presented in PAC, TCP purchased 17460 metric tons sugar from different sugar mills in the fiscal year 2013-14 and made complete payment amounting to Rs 902.7 million to them. All payment was made in advance. But these sugar mills did not supply 15145 metric ton costing Rs 792 million.
Upon it TCP encashed bank guarantee of these sugar mills which stood at 45.01 million while Rs 476.80 million have not been received from these mills so far.
Auditor General has said TCP has failed miserably in protecting its interests. This matter was brought to the knowledge of TCP which contacted the respective management so that the remaining sugar could be collected from these sugar mills but it failed in doing so. The remaining amount could also not be encashed.
The matter was referred to NAB and it is still pending with NAB despite lapse of over one year.
The management also replied that these outstanding dues have yet to be recovered from Abdullah Shah Sugar Mills, Ghazi, Mecca and Haq Bahu sugar mills which have defaulted.
The sugar mills resorted to courts when action was taken against them. This mater is subjudice at present.
The documents further disclosed the case against Abdullah Shah Ghazi Sugar Mills will be heard on September 15 in the court. Hearing of case against Mecca Sugar Mills and Haq Bahu sugar mills will also take place on September 15.
PAC and departmental accounts committee have failed in bringing the proceedings against these three mills to logic end. Neither sugar nor the amount paid in advance to them has been recovered from the said sugar mills.
