LAHORE: No disciplinary action has yet been taken against the Disco officials, including the CEOs and the Chief Commercial Officers for causing a colossal loss of Rs 589 billion in the ongoing fiscal, said sources.

The insiders have revealed that even no investigation is under way whereby the reason for the losses could be investigated, so that corrective measures could be taken-up.

It may be noted that in repetition of what happened on the PDM government’s arrival in early 2022, the present PML (N)-led coalition is in the process of sacking the existing Disco Boards over allegation of causing a colossal loss of Rs589 billion for the ongoing fiscal.

In addition to the losses sustained by the Discos as pointed out by the Power Division, extreme number of cases of over-billing has been pinpointed by FIA – especially in Lesco.

According to the sources, no tangible investigation has been initiated despite the seriousness of charges so far.

Earlier, the Auditor General Pakistan undertook an audit of the BoDs of three Discos, including Lesco, during late last year of the caretaker government.

According to the audit report available with this paper, the DG Audit Power had commented that the Boards were notified in contravention to the SOEs Act, and the Fit & Proper Criteria as laid down by the SECP.

It was further pointed out that the BoDs comprised the majority of politically linked persons. The report had also taken note of the various acts of omission and commission by the same boards.

According to the sources, the Disco boards are being sacked without any action against the federal government nominees on all of these boards, including joint secretaries from both the power and the finance divisions.

Experts have questioned the presence of federal government nominees on these Boards in case they are being dissolved in the allegation of poor performance.

Sources inform that these officers had duly informed the Power Division, but the federal secretary did not take any action, as he was the one who had recommended the names of the BoD in the first place and that too on the urging of the then PDM government. It is not out of place to inform that it is the same civil servant who had earlier claimed recovery of Rs71 billion against theft in 2023, which the present minister for power had corrected to be only Rs 5 billion.

Copyright Business Recorder, 2024