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Print Print 2018-07-28

Partly Facetious: Shady deals would be revisited?

"So what do you reckon? Past corruption or shady deals would be revisited!"
Published July 28, 2018

"So what do you reckon? Past corruption or shady deals would be revisited!"
"I would strongly recommend it."
"If there is an element of commission then proving it would be difficult so may I suggest something?"
"I know what you are going to suggest. Yes I agree, we do not have many forensic experts in this country with the necessary qualifications and experience to investigate white collar crime and it is highly recommended that The Khan sets up a forensic department in all major entities - government owned and autonomous and if he can't find Pakistanis then let him engage foreigners and..."
"One concern though: are you sure this wouldn't be duplication after all there is expertise in existing investigating authorities, the problem the country faced in the past was lack of political will..."
"Agreed, but I am actually very concerned about Shahid Khaqan Abbasi's LNG deal with Qatar and the reason I am concerned is because The Khan's designated Finance Minister reportedly stated that there was nothing wrong with it. Pakistan State Oil uploaded the agreement on its website but blacked out all relevant portions of the deal..."
"So perhaps there isn't anything wrong with it? I mean you have no means to determine..."
"A copy of the entire deal, with the blacked out parts, was available which Asad Umar reportedly read, but still insisted that it was an OK deal; he is not a forensic expert and doesn't claim to be."
"That explains why The Khan never made that deal an issue."
"Right, the LNG deal was made at a time when it was a buyer's market and other countries got it at a cheaper rate; besides the PML-N government agreed that if Pakistan did not buy the agreed amount Qatargas would sell it elsewhere and the difference in price would be payable by Pakistani tax payers....and recently Sui Southern refused to import LNG for September and October 2018 until the power division commits to a firm take or pay basis..."
"Right and it's a 15-year deal and more expensive than hydel and nuclear energy and with two to three dams under construction and expected to be completed before 15 years are up..."
"What about auditors, shouldn't they be able to..."
"Nope, we need a forensic department in all major entities..."
"Agreed."

Copyright Business Recorder, 2018

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