AGL 5.51 Increased By ▲ 0.11 (2.04%)
ANL 8.49 Decreased By ▼ -0.30 (-3.41%)
AVN 75.73 Decreased By ▼ -0.43 (-0.56%)
BOP 5.21 Increased By ▲ 0.04 (0.77%)
CNERGY 4.42 Decreased By ▼ -0.06 (-1.34%)
EFERT 81.53 Increased By ▲ 0.43 (0.53%)
EPCL 49.54 Increased By ▲ 0.54 (1.1%)
FCCL 12.68 Decreased By ▼ -0.02 (-0.16%)
FFL 5.52 Decreased By ▼ -0.07 (-1.25%)
FLYNG 6.74 Decreased By ▼ -0.24 (-3.44%)
FNEL 4.64 Increased By ▲ 0.01 (0.22%)
GGGL 8.45 Decreased By ▼ -0.14 (-1.63%)
GGL 13.85 Decreased By ▼ -0.21 (-1.49%)
HUMNL 6.03 Increased By ▲ 0.53 (9.64%)
KEL 2.56 Decreased By ▼ -0.04 (-1.54%)
LOTCHEM 27.62 Decreased By ▼ -0.09 (-0.32%)
MLCF 23.75 Increased By ▲ 0.07 (0.3%)
OGDC 71.22 Decreased By ▼ -0.23 (-0.32%)
PAEL 15.16 Decreased By ▼ -0.04 (-0.26%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 15.86 Increased By ▲ 0.06 (0.38%)
SILK 1.09 Increased By ▲ 0.04 (3.81%)
TELE 8.84 Decreased By ▼ -0.15 (-1.67%)
TPL 7.08 Decreased By ▼ -0.08 (-1.12%)
TPLP 19.20 Decreased By ▼ -0.02 (-0.1%)
TREET 20.87 Decreased By ▼ -0.27 (-1.28%)
TRG 136.73 Decreased By ▼ -0.02 (-0.01%)
UNITY 16.54 Decreased By ▼ -0.26 (-1.55%)
WAVES 9.16 Increased By ▲ 0.06 (0.66%)
WTL 1.34 Decreased By ▼ -0.03 (-2.19%)
BR100 4,158 Decreased By -27.7 (-0.66%)
BR30 15,339 Decreased By -127.2 (-0.82%)
KSE100 41,652 Decreased By -167.7 (-0.4%)
KSE30 15,380 Decreased By -68.1 (-0.44%)
Follow us

ISLAMABAD: The Finance Division has reportedly expressed its dismay over non-provision of annual reports of 16 State Owned Entities (SOEs) falling under administrative control of the Power Division for FY20 despite several reminders.

In a letter to Secretary Power Division, Directorate General of Central Monitoring Unit (CMU) of Finance Division stated that a notification of April 30, 2021 contained approval of reorganization of Economic Reforms Unit (ERU) and intimated the establishment of Central Monitoring Unit (CMU) in the Finance Division with the following objectives: (i) to maintain electronic database of the financial and operational performance including information pertaining to corporate intent, business plan and management policy of SOES; (ii) to analyse the financial, commercial and operational performance of SOEs and to submit recommendations to federal government on such matters; and (iii) to issue and publish periodic, biannual and annual reports on the performance of SOEs.

Finance Division had sought information about the following SOEs: (i) Peshawar Electric Supply Company Limited, Peshawar;(ii) Islamabad Electric Supply Company Limited; (iii) Sukkur Electric Supply Company; (iv) Genco-II, Central Power Generation Company Limited, Thermal Power Station, Guddu; (v) Genco-IV; Lakhra Power Generation Company Limited, Jamshoro; (vi) National Power Construction Corporation (Private) Limited, Lahore; (vii) National Transmission and Despatch Company, Lahore; (viii) Kot Addu Power Company Limited, Muzaffargarh; (ix) Nespak and Partners LLC, Muscat, Oman; (x) Mohammad Hisham Aitah-Nespak, Riyadh, Saudi Arabia; (xi) Nespak Limited, Doha, Qatar; (xii) Wapda Employees Housing Foundation (Wapda-EHF), Lahore; (xiii) Nandipur Thermal Power Generation Company Limited, Muzaffargarh; (xiv) Neelum Jhelum Hydropower Company; (xv) Pakistan Environmental Protection Agency Islamabad; and (xvi) Genco Holding Company Limited.

In this context and in continuation of Finance Division’s earlier correspondence, Finance Division once again reminded that the requisite information along with annual report (including audited accounts) of SOEs for the year 2019-20 under administrative control of Power Division are still awaited and causing delay in compilation and publication of mandatory reports.

According to Finance Division, these reports are compiled by CMU under instruction of Federal Cabinet and delayed/incomplete information will cause hindrance to build upon the Government’s on-going reform agenda for better management and governance of SOEs.

The Finance Division maintained that in view of the list of SOEs aforementioned under administrative control of Power Division the requisite information is either not received or received but is incomplete.

The Finance Division has requested the Power Division to advise the management of respective SOEs to expeditiously furnish the information as early as possible.

Copyright Business Recorder, 2022


Comments are closed.

16 SOEs falling under PD’s control: FD expresses dismay over non-provision of annual reports

SBP-held foreign exchange reserves fall $784mn, now stand precariously at $6.71bn

IATA says Pakistan has blocked $225mn in airline funds from repatriation

Daily Mail apologises to PM Shehbaz over 'corruption allegations'

Saudi Arabia signs Huawei deal, deepening China ties on Xi visit

Rupee continues to depreciate, settles at 224.37 against US dollar

Roshan Digital Account: monthly inflow lowest since Dec 2020, clocks in at $141mn in Nov

Saif-ur-Rehman appointed Karachi administrator

IHC bars FIA from arresting Suleman Shehbaz upon return from UK

Pakistan seeking $4.2bn from Saudi Arabia: reports

Another audio, purportedly of Bushra Bibi discussing ‘sale of watches’, surfaces