Islamabad:

An audit report presented to the Public Accounts Committee (PAC) has raised an objection to a loss of RS4 billion.

According to the AGP (AGP) report, a lease for 1,250 hectares of land between Port Qasim and Pakistan Telecommunication Company Limited (PTCL) was signed.

By 2021, a decision was made to cancel the lease agreement. However, the government’s decision to cancel the lease was not implemented for two years. A refund of RS4 billion has also not been made to PTCL. The 1,250 hectare of land has not been awarded.

Secretary Maritime Affairs told Public Accounts Committee (PAC) that the question of this land lease is 19 years old and that the land remained with PTCL from 2006 to 2021.

“It was originally given to PTCL for the establishment of the textile city’s industrial zone. PTCL could not develop the industrial zone for these 19 years.

According to the secretary, PQA will also clear PTCL’s outstanding expenses.

PAC chairman Junaid Akbar Khan asked how much revenue was generated from the 1,250 target large lease. Port Qasim officials replied that RS901 million was received once and RS621 million is still due to. PAC later ordered the Ministry of Maritime Affairs to resolve all audit -related questions within six months.