An audit report, presented to the Public Accounts Committee (PAC), has raised an objection over a Rs4 billion loss caused by the non-allotment of 1,250 acres of land by the Port Qasim Authority (PQA).
According to the Auditor General of Pakistan's (AGP) report, a lease agreement for the 1,250 acres of land was signed between Port Qasim and the Pakistan Telecommunication Company Limited (PTCL).
In 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 the PTCL. The 1,250 acres of land have not been re-allotted.
The secretary maritime affairs told the Public Accounts Committee (PAC) that the matter of this land lease is 19 years old and the land remained with the PTCL from 2006 to 2021.
"It was originally given to PTCL for establishing the Textile City Industrial Zone. The PTCL failed to develop the industrial zone in these 19 years. After the cancellation of the lease, this 1,250-acre land is now being taken back," he added.
According to the secretary, the PQA will also clear PTCL's outstanding expenses.
PAC Chairman Junaid Akbar Khan asked how much revenue was generated from the 1,250-acre lease. Port Qasim officials replied that Rs901 million was received once, and Rs621 million is still due. The PAC later ordered the Ministry of Maritime Affairs to resolve all audit-related matters within six months.
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