PAC sub-committee meeting

ISLAMABAD: Oil and Gas Development Company Limited (OGDCL) Chief Operating Officer Zahid Mir told the sub-committee of the Public Accounts Committee on Thursday that the success ratio of finding gas and oil reserves in Kekra-1 was only 12 percent.

The meeting of Sub-committee of the PAC was held with the chair of its Convener Sardar Ayaz Sadiq in which the audit paras relating to Petroleum Division, Benazir Income Support Programme, Ministry of Law and Justice and Ministry of Privatization were examined. During the meeting the sub-committee, PAC member Senator Mushahid Hussain Sayed questioned that if the success ratio of finding gas and oil reserves were 12 percent in Kekra-1 field then why the hype was created. Mir told the sub-committee that the Kekra-1 was a big infrastructure and its success ratio was only 12 percent and company and ministry were aware of the success ratio of 12 percent.

“The company which was drilling did not create such hype,” he said. He told the sub-committee that the OGDCL made six discoveries last year and in 2017 five discoveries achieved. While examining the audit paras, the audit officials told the sub-committee that withdrawal from the company of drilling the well of Kawaja-1, an expenditure of Rs1,224 million were wasted.

While examining the audit paras related to Ministry of Law and Justice, the sub-committee of the PAC directed to present the supplementary grants of the Ministry of Law and Justice after getting the approval from the National Assembly. Convener of the sub-committee of the PAC Sardar Ayaz Sadiq questioned about the reasons of surrendering the huge grants of the Ministry of Law and Justice and why such a saving.

The officials of the Ministry of Law and Justice replied that in future the ministry will seek the supplementary grants according to need. The audit officials told the sub-committee of the PAC that a car of Council of Islamic Ideology was stolen from the house of the driver that caused a loss of Rs1.7 million. The officials of the Council of Islamic Ideology told the sub-committee that the FIR was registered against unknown persons. Sardar Ayaz Sadiq directed to inquire into the issue and report to the committee within 15-days.