ISLAMABAD: Apropos of the news story titled “Management Crises in NTDC costs country dearly” appeared in Business Recorder on June 19, 2022, wherein it has been alleged that losses to the tune of billions of rupees to the national exchequer caused by management crises and key postings/appointments, a spokesman of NTDC categorically denied the report, saying that the allegations/problems pointed out in the news report seem speculative and devoid of the facts/ground realities.
He further said that news story presented a one-sided picture with respect to the performance of the company by ignoring the significant achievements within last year.
The spokesperson clarified that as far as the position of GM HR is concerned, the post was vacated upon the resignation of then NTDC GM HR, Farid Iqbal. As a stop-gap arrangement, a capable NTDC officer was assigned the additional charge of the vacant post of GM HR till the selection of a regular incumbent. This temporary arrangement was discontinued upon the selection of a regular GM HR NTDC through a competitive recruitment process in March 2022.
The spokesperson stated the news report mainly relied upon the depreciation of Pak rupees and increase in prices/inflation to calculate the loss by showing a glimpse of a few projects where the reasons for delay are neither attributable to NTDC in general nor to the purported management crisis in particular. The currency devaluation, unfortunately, has not only adverse impact on NTDC projects but has impacted all formations and spheres of the country. Although, the award price of the project remains the same, however, there is extra financial implication due to exchange parity.
Management crisis in NTDC costs country dearly
Similarly, unprecedented inflation has hit the globe, post-Covid impact resulting in a massive surge in commodity prices and shipping costs, etc. The situation has been exasperated by the Russia-Ukraine conflict. This phenomenon is also not specific to NTDC but common to all firms.
The spokesman further said that apart from aforesaid explanations, where it transpires that all the facts have not been considered. The projects only represent a small portion of NTDC’s development portfolio, where, the issues were beyond the control of NTDC and had nothing to do with the so-called management crisis.
Further, the author has entirely ignored not only NTDC’s tireless efforts for the completion of a critical project of national importance (including removal of constraints for reliable power flow in Summer-2022) but also the intricacies attached to complex projects. 35 projects (Grid Station, Transmission Line, augmentation/extension) were completed from March 2021 to June 2022 besides successfully initiating/awarding hundreds of contracts.
BR reporter adds: The spokesperson, in his clarification has acknowledged that the issue in projects were beyond the control of NTDC and the situation has been exasperated by the Russia-Ukraine conflict. This phenomenon is also not specific to NTDC but common to all firms.
With respect to assigning additional charge to GM HR, NTDC selected the officer who was as GM HR in spite of availability of DGs/Directors and at least other 15 officers, which clearly indicates that he was blue eyed to someone with the organisation. Hence, BR reporter stands by his story.
Copyright Business Recorder, 2022
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