Power Division Refutes Media Report About Misspent Rs 3 Trillion

The news items published in a section of media titled "Power Division misspent Rs.3 trillion, points out AGP is factually incorrect" and out of context of the Audit Report ignoring basic parameter and procedure of Audit in general and taking out headlines of choice in particular

ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Oct, 2020 ) :The news items published in a section of media titled "Power Division misspent Rs.3 trillion, points out AGP is factually incorrect" and out of context of the Audit Report ignoring basic parameter and procedure of Audit in general and taking out headlines of choice in particular.

The Power Sector overall market revenue per annum is Rs. 1.4 trillion therefore question arises as to how Rs. 3 trillion is misspent out of total market share of Rs. 1.4 trillion in one year? The Power Sector spent around Rs 200 billion out of Rs.1.4 trillion market share on development projects in a year which also casts doubts on Rs.3 trillion misspending as reported by the news item, said a statement issued by Power Division here Monday.

The finality of irregularities or mismanagement is vested with Public Accounts Committee therefore reporting Audit Report before its finalization by the relevant forum does not serve the purpose of fair reporting for fair public opinion.

It is also worthy to add that a Departmental Accounts Committee (DAC) comprising DG (Audit) Power and Power Division's representative, has already discussed these paras and the DAC issued directions to all entities of Power Sector for verification of record and submission of their revised point of views based on rules and regulations.

It is more of a question of difference on point of interpretation of rules and regulations by both sides which if goes in disagreement will be submitted for final decision by Public Accounts Committee.