PAC takes notice of HEC waiving outstandings
- April 25, 2014, 6:50 pm
- National News
- 134 Views
ISLAMABAD, 25 Apr (Online): The sub-committee of PAC (Public Accounts Committee) has taken strong notice of HEC (Heavy Electrical Complex) board of directors, waiving off massive outstandings to government, with relative ease.
The convener PAC, Rana Afzal, while chairing the meeting on Friday, expressed his strong chagrin on this free-hand spree by HEC Board of Directors.
The meeting, attended equally by privatization officials also deliberated over privatization of various departments of ministry of industries and Production, whence the additional secretary advocated privatization as the only viable solution for HEC.
He also deliberated that HEC could indulge in massive production, but currently it’s only manufacturing transformers, running into heavy loss of Rs 11 million. “The government is injecting Rs 21 billion in HEC for electricity production through hydel and thermal sources for producing 300MW of electricity. It was also divulged that the current turnout of the company was Rs 3 billion.
