Mush gave undue favour to US oil company

Pakistan

Mush gave undue favour to US oil company

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Pervez Musharraf awarded unlawful contract to oil company owned by former US President George Bush.

26 October,2012 07:13 am

According to documents received by Dunya News, Petroleum and Natural Resources Ministry signed a contract with a US oil company, Halliburton, owned by former US President George W Bush and ex-Vice President Dick Cheney on November 8, 2001 during Pervez Musharraf tenure to explore oil and collect data of production.However, Halliburton transferred the responsibility for the work to its partner company LMKR. Under the law the contract could only be extended twice for a period of one year but on September 26, 2006 the contract was extended for two years in violation of law.In September 2008, the contract of the same company was extended for one year. In 2009, once again the same company was given Rs 260 contract.It is pertinent to mention here that the profit from this project was not handed over to Pakistan due to which national exchequer suffered a loss of millions.It is further revealed that in 2010-11 a sum of Rs 50 million were allocated for project, however in January 2012, LMKR director general was informed through a letter that Rs 65 million have been spent on the project.However, according to documents the DGPC has not taken any action regarding poor performance of the company.