MoP seeks appointment of former managing director Peco as CEO Tusdec

Ministry of Production (MoP) has requested the Establishment Division to accommodate Brigadier Bilal Ahmad Khan (retired), former Managing Director (MD) of Pakistan Engineering Company (Peco), as CEO of Technology Upgradation and Skill Development Company (Tusdec), sources close to Production Minister told Business Recorder.
The majority of the Peco Board members did not accept the posting/appointment of Brigadier Bilal Ahmed Khan as Managing Director in a meeting held on December 14, 2011. The Board maintained, "we are not challenging the appointing authority of the Prime Minister rather we are simply saying that this particular appointment is unfit for the task of Managing Director of Pakistan Engineering Company". Sixty-six shares of Peco are held by the private sector with six private sector members and three government nominees on the Board of Peco.
Production Minister Answer Ali Cheema has already handed over cases of financial embezzlements worth billions of rupees in Peco to Federal Investigation Agency. Bilal Ahmed was appointed as Managing Director, Peco vide Establishment Division's Notification No 1/112/2010-E-6 on July 20, 2011.
Brigadier Bilal, who was serving as Managing Director National Fertiliser Marketing Limited (NFML), was transferred as Managing Director, Peco. He took charge of his new assignment with effect from July 21, 2011. However, Peco's Board ratified his appointment for three months only, ie up to October 20, 2011.
Production Ministry, sources said, in a summary to the Prime Minister has stated that in view of the prevailing circumstances Establishment Division has been requested to consider replacement of Brigadier Balal Ahmed Khan by a suitable officer. The position of CEO, Technology Upgradation and Skill Development Company (TUSDEC) under the administrative control of Ministry of Production is vacant. The post was advertised and interviews were held for appointment of CEO and so far none of the candidates is considered fit for the position.
An audit was conducted by the Federal Commercial Audit (FCA) and the following issues revealed subject to investigation: (i) leasing of 100 acres of Peco land at Kot Lakhpat Works at very low price; (ii) irregularities in case of natural gas; (iii) overhead granas (43) Hoists (7) missing; (iv) shortage of 750 tons of angle iron; (v) theft of three ton of electric wires; (vi) sale of shed of scrap at the rate of 36.11/KG; (vii) unnecessary purchase of cleansing oil worth Rs 6.6 million; (viii) out sourcing of oil galvanising work spending Rs 25 million; (ix) arbitrary cancellation/appointment of sale distributors for sale of pumps and motors (pumps well co); (xi) shortage of store items worth Rs 12 million till date; and (xii) under payment to M/s. Qazi Associates.