ISLAMABAD: The Auditor General of Pakistan (AGP) has said that a sub-committee of Public Accounts Committee [PAC] faced loss of Rs1.24 billion due to the late payments to the Independent Power Producers [IPPs] by Ministry of Water and Power.
The meeting was chaired by Convener committee and MNA PPP Syed Naveed Qamar in Parliament House. During the proceedings, Qamar said the electricity shortage could be resolved if the government manages circular debt. The officials of Auditor General of Pakistan informed the committee that Ministry of Finance should take the steps for payment to IPPs on time. “The government has to pay fine of billions of rupees due to late payments,” he added.
SECP blocks inactive companies from opening new bank accounts
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Saturday declared 39,704 companies “Inactive by Registrar” for failing to...
