PAC Sub-Committee opposes HEC Taxila’s privatization

8
262

The Sub-Committee of the Public Accounts Committee (PAC) Tuesday unanimously opposed the privatization of Heavy Electrical Complex (HEC) Taxila observing that it was now earning profit.

The committee, which met here with Syed Naveed Qamar in the chair, discussed the audit paras of  Ministry of Industries and Production for the fiscal year of  2002-03. Committee members Mian Abdul Manan and Dr Darshan attended the meeting.

During the meeting, an audit official told the committee that Heavy Mechanical Complex (Taxila), Pakistan Machine Tool Factory (PMTF) Karachi and HEC had not made payment of interest to the State Engineering Corporation (SEC).

To this, Secretary Industries Khizer Hayyat Gondal informed the committee that the three organizations were reviving now and would be especially very helpful in the early completion of the China-Pakistan Economic Corridor (CPEC).

SEC Chairman Kukab Mohyuddin briefed the members that the HEC had earned around Rs 46 million from July-2015 to April-2016 and its performance also increased up to 166 per cent during the last year.

He said the unfortunately HEC was included in the privatization list after one year of its establishment which was a real hurdle in its progress and barring them from doing agreements with private companies and banks. It should not be privatized as it was also producing transformers at economical prices.

MNA Mian Abdul Manan observed that the three departments were national assets and should not be privatized. He appreciated their heads for making the departments profitable again.

The committee also constituted a fact finding committee and sought a report from the Secretary Industries within 30 days about the land and privatization proceeds of Surraj Ghee Industries Limited and Bengal Ghee Industries Limited.

 

8 COMMENTS

  1. Ever land in your kitchen for a home gathering or over the holidays? It’s safe to mention the kitchen stands out as the heart entrance and during the last 50 a long time your kitchen's has moved behind the property, to center of attention. Once this dead end in your house, the kitchen area contemporary application is frequently found inside of a “great room” setting promoting this home’s available floor approach. http://www.puffinhome.org

  2. Building the business is usually a fun even so challenging excursion. My Corporation journey started in 1998 together with 15 ages later, I've noted that the only method to experience a successful business has a Purpose. In real truth, I imagine that a business without the need of purpose may be a business that’s destined as a way to fail. http://www.growingruralbusinesses.org

  3. Whenever it involves your organization travel everybody knows that this specific comes write out of your bottom selection, but to ensure that good customer relations that is something you'll want to do. Probably the most typical steps you can take is to use a organization travel manager to deal with all your organization travel programs. http://www.vfhotel.org

  4. Paris has become the best places you possibly can ever head over to. If you want the best on the greatest, a great excellent, intriguing together with romantic position, then Paris really should be right near the top of your guidelines. There are many interesting attractions about the city of which you’ll surely contain a fantastic time with your stay now there. http://www.hotel-in-paris.org

  5. These analysts have to understand the investment and tax complications of long-running research programmes. They can expect to earn $60,025 – somewhat less than they might get in banking.Park Penny

Comments are closed.