TIP Directed to Scrutinize its Accounts for Last 10 Years

The Telephone Industries of Pakistan (TIP) board has directed its own audit committee to scrutinize the accounts of TIP for the last 10 years. The matter has to be referred to the Auditor General of Pakistan for a special audit of TIP accounts, if required.

This was decided in 185th Board of Directors meeting of TIP which was held under the chairpersonship of Minister of State for IT & Telecom Mrs. Anusha Rehman here in Islamabad today.

Federal Secretary IT Mr. Rizwan Bashir Khan, MD T.I.P Mr. Zia ul Haq, Member Legal Ms. Ameena Sohail, Member HR Mr. Tahir Mushtaq and other Board Members were also present in the meeting.

The Board noted TIP has not been authorized to use its accounts for payment of electricity and other utility bills of other entities and their employees. The Board directed TIP management to resolve all their outstanding financial issues with management of PTCL and NRTC amicably and let all stakeholders pay their respective utility liabilities and reiterated that TIP resources should only be used for its mandated purposes.

It merits mentioning here that TIP was found paying utility bills for its employees and various other organizations.

The Board also scrutinize the outstanding land ownership matters of TIP properties in Haripur & Islamabad, in light of legal opinion obtained from Ministry of Law & Justice and Senate Standing Committee recommendations.

The TIP Board directed the TIP Management to settle their property issues with PTCL & NRTC and reconcile their claims within the next 15 days. Otherwise the liabilities of TIP are continuing to build causing loss to exchequer.

MD TIP assured the board that directions of the board will be complied with in true letter and spirit.

It must be noted here that Government of Pakistan was hoping to lease TIP to any Chinese phone maker, however, due to long-pending financial matters have been hurdling any such efforts.

He is the Editor at ProPakistani.