Tag: Mismanagement

Mismanagement of rice costs govt Rs 11b loss

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article image STAFF REPORT IBD: The procurement of sub-standard rice and its late disposal inflicted Rs 11 billion loss to the national exchequer, says a report the Auditor-General of Pakistan.The report said that Passco suffered huge losses as the paddy, particularly purchased in Sindh, was of poor quality, wet and sub-standard. The Corporation was required to sell its rice stocks in March or April 2009, however, the management stocked the rice for about two years and sold it slowly.The audit suggested that…Read More

Mismanagement behind fertilizer crisis!

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THE PERSISTING natural gas shortage in Pakistan indirectly inflicted heavy loss to the national agriculture sector during the year 2011 when the natural gas supply to fertilizer plants remained drastically low or suspended forcing these plants to hardly produce 4.9 million tons of urea against an installed capacity of 6.9 million tons. In financial terms, the natural gas shortage inflicted billions of rupees loss to the fertilizer industry which has so far invested $2.3 billion. The government…Read More