OGRA hires audit firm to evaluate profit earned by CNG stations
An Ogra official said that the firm would present the audit report within four days, by November 12.
It will select 11 CNG stations in rural and urban areas to evaluate profit and return of CNG stations.
This audit is being conducted as short-term measure and a long-term audit would also be conducted later.
The apex court had ordered the regulatory body to review the prices and announce the new prices before November 1.
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my friends in KPMG tell me its bogus auditing if they're able to do it in 2,3 days short time frame. Any other tactic to fool the public.
What rubbish -- no credible accounting firm could perform an audit and release it's findings in that time frame -- also what exactly is the SC going to do with the report and what expertise does an attorney/judge have in evaluating financial affairs. running a business or establishing prices on a commodity.
rule of law and good governance non existent.
Such is the pathetic state of OGRA that it doesn't know how much profit do CNG stations make and only after an order by the Supreme Court has it opened its eyes!!
@Salem: dear saleem, ahln is also a good firm, which firm is hried, it depends on what quotations were given by all the firms, avais hyder (being the member of RSM), got good reputation too. what if it's not in top 4, its in top 6 :)
This seems window dressing attempt by the OGRA. Since initiation, how OGRA was setting the price of CNG. Everyone knows that how much underhand money is being extracted by OGRA officials while issuing a CNG station license. Now question is that whether this money will appear in the accounts or not?
And who is to audit OGRA?
Appalling .. OGRA cant even hire a top quality audit firm like KPMG, PWC, Deloitte or Ernst & Young