Will shut down poor performing companies: Ayesha Ghous
'Data will be compiled to review the financial irregularities for final decision'
LAHORE (Dunya News) – According to sources, Provincial Finance Minister DR. Ayesha Ghous Pasha informed that data regarding companies’ performance and funding is being compiled for a thorough review and all the companies with poor performance and funding irregularities will be shut down.
It was also discovered that Provincial Law Minister Rana Sanaullah emphasized in the meeting that no company would be allowed to operate illegally.
It was decided in the meeting that data regarding the relatively better performing companies will be announced to the public.
Dunya News Investigation Wing, on October 20, unearthed mammoth irregularities over Rs80 bn in financial matters of 56 companies formed by Punjab government.
As per details garnered, Punjab govt had constituted 56 companies under guise of good governance and registered them under Article-42 of Companies Ordinance 1984. Punjab Chief Minister Shehbaz Sharif was inspired by the Turkish model and therefore summoned analysts from the same.
Opposition had decided to raise the issue of ‘Punjab Companies Scandal’ in Punjab Assembly on October 25and demanded that the issue be discussed for at least two days in assembly.
Earlier, the finance department had confessed that Punjab government has been violating the ‘Information Act’. The department made it clear that foreign loans were issued to the companies and terms of agreement prevent the department from revealing further information.
The finance department referred all queries to the federal government, stressing that any further information will be revealed only after permission is granted from the federal government.
