ISLAMABAD: The audit report 2009-10 of the Utility Stores Corporation (USC) reveals massive losses of Rs 76.813 million due to theft and burglary incidents across the country.
The audit report of the Auditor General of Pakistan points out that the USC reported losses of Rs 30.468 million in the year 2008-09 due to incidents theft and burglary at 147 stores across the country.
“FIRs were lodged with police, formal enquiries were conducted and insurance claims of Rs 30.468 million were also lodged by the management with National Insurance Company (NIC), but not much could materlise,” the audit report says.
Separately, the report points out that the management of USC (Head Office), Islamabad lodged loss claims of Rs 57.332 million with the National Insurance Company, against burglary at 119 outlets during the period from July 2007 to October 2008.
“But only claims of Rs 28.174 million were admitted by the NIC. Thus USC suffered a Rs 29.159m loss (Rs 57.332 million minus Rs 28.174 million).” The report says the USC sustained a loss of Rs 6.408 million, Rs 2.862 million and Rs 2.136 million (a total of Rs 11.406 million) due to theft incidents in Shikarpur, RY Khan and Bannu in 2009.
In another case of theft in Rawalpindi in January 2009, the corporation sustained a Rs 5.781 million loss.
Apart from sustaining losses in thefts, the audit report says the USC sustained a loss of Rs 118.931 million due to procurement of rice at higher rates. “USC purchased 30,098.500 Metric tonnes of rice in 2007-08 without public advertisements and same were procured through hand collected quotations by the purchase committee.
Rice was purchased at higher rates by stating that the lowest quoting parties were unable to supply the required quantity and remaining quantity was purchased from the second and third lowest bidders,” the report says.
USC suffers losses of Rs 76.813m
