RAWALPINDI: Corruption is at its peak, as there is no real anti-corruption institution in the country. While on the other hand, handpicked people have been appointed in national organisations, who have been taking decisions at their free-will for personal gains due to which national institutions are seen at the verge of destruction, Karman Khan said. For example, PIA was suffering Rs13 billion deficit in 2007, which surged to Rs40 billion in 2008. The balance sheet of the national airlines is in such a condition that it could be declared bankrupt. According to experts and PIA sources, PIA with current deficit and number of employees could not earn profit in next 50 years. In his talk show “Aaj Kamran Khan Kay Sath”, Kamran Khan said, on the one hand the PIA is struggling to run its financial matters on daily basis and grounded dozens of its planes while on the other hand the Managing Director of PIA Captain Aijaz Haroon is planning to purchase new planes at a cost of Rs160 billion. PIA is suffering loses of millions of rupees due to the monopoly of travel agents on transportation and tickets. Despite record financial deficit, on the directives of the government, the PIA managing director made fresh recruitments of 6,000 workers in the airlines. PIA is on top compared to other airlines in employing maximum number of workers per aircraft. A few weeks ago, the PIA appointed new airhostesses including 12 from interior Sindh as recommended by the PPP office-bearers. The corporation reinstated some of those former employees who were sacked for irregularities and offered them foreign postings. Easy AdSense by Unreal Similarly, Pakistan Steel had a reserve of Rs11 billion and an inventory of products worth at least Rs6 billion in June 2008. In July 2009, Pakistan Steel’s current liabilities reached Rs21 billion. The Pakistan Steel management has already consumed the entire amount of employees’ gratuity and provident fund. In the absence of blast furnace, the steel mills is running at 15 per cent of its capacity. Transactions of the Trading Corporation of Pakistan (TCP) damaged the nation’s image in the world. On the recommendation of a federal minister, an income tax officer was appointed as chairman of the TCP last year. Due to this appointment strategy of plunder in government’s trading activity such as procurement of fertilisers, sugar and wheat from international market and an attempt to re-nationalise export of rice from Pakistan by procuring rice locally at an inflated price was unearthed. Imports were timed in such a manner that maximum profits could be earned from local markets. The national exchequer lost Rs3 billion by re-nationalising the rice export, while Rs20 billion loss was caused by non-transparent import of Urea. Due to irregularities of TCP management, the people were forced to buy sugar at an all-time record high price of about Rs50 per kg. The National Bank is assisting the government in these transactions. Its emergency financing of Rs10 billion of Pakistan Steel may eventually benefit private individuals who are calling shots in its affairs from their private offices. The National Bank’s role and interest in enhancing exposure and affairs of some sugar mills of Sindh and their links with powerful political individuals has left many questions unanswered. The bank’s interest in controversial rental power plants scheme of the government also carries many questions. -Source: The News-
Pakistan Khappay, Steel mill Khappay aur PIA Khappay!