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Senate committee recommends for placement of name of former Chairman Steel Mills in ECL.

ISLAMABAD, October 16, 2009 (Balochistan Times): Senate standing committee on industries and production has recommended for placement of name of Moin Aftab, former chairman steel mills in Exit Control List (ECL) for causing loss of Rs 22 billion to steel mill. A 4-member sub committee under Haroon Akhtar Khan was set up to review the details of audit and accounts of steel mill. Minister for industries Mian Manzoor Ahmad Wattoo, chairman Pakistan steel mills and other senior officials attended the meeting. The committee was told mill was running into profit during the period 2001-07 but it suffered loss of Rs 19.50 billion during 2008-9. The entity had to suffer loss of Rs 13 billion in the purchase of scrap. Federal minister Manzoor Wattoo told the committee Pakistan steel mills was a public sector entity and it had its own board of directors who run this system. The ministrys role is only to watch the matters and issue directives Ministry was not consulted in connection with talks about purchase of raw material, he told. Directives were issued from time to time with reference to losses, he added. Special audit should be got conducted of the mill, he said. Mir Hasil Bizenjo said embezzlement of Rs 22 billion in steel mills was the largest ever embezzlement in the history of the country. Therefore, the culprits should be brought to justice, he demanded.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Oct 16, 2009
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