Senate standing committee on interior Chairman Talha Mahmood has questioned the claim of Pakistan State Oil (PSO) regarding loss of Rs 8.38 billion, saying: "It is unbelievable that a profitable national organisation, which earned net profit of Rs 2.1 billion in previous year, has gone on loss of Rs 8.38 billion".
"The sales of PSO during last year amounted to Rs 122 billion, while they reached Rs 200 billion during the current year, which means the profit has also increased," he said while talking to a group of journalists here on Friday.
"Keeping in view the realities of increase in sales and decline in oil rates to the extent of $61 per barrel in international market and in Pakistan being sold on the rate fixed at $147 per barrel, one cannot imagine loss in PSO, Talha said, adding that it is acceptable that rupee is a little bit devalued as compare to dollar but even then the loss of Rs 8.38 billion is not justifiable." He said that the government should hold an independent audit and inquiry of the accounts of PSO. He said that statements of PSO regarding financial loss were speaking loudly about the highest level of corruption in PSO.
Talha, who is also member of Senate standing committee on petroleum, said that there were chances of corruption of billions of rupees in PSO. He pointed out that the country is facing worst challenges of history, and the nation is in firing line of poverty. He added that no one would be allowed to play with national exchequer. "There is a dire need of checks and balances on every level to bail out the country at this juncture". The senator appealed to the government to take immediate steps to save these national institutions from corruption.