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.
(THROUGH ASIA PULSE)