ISLAMABAD: The Port Qasim Authority (PQA) caused a Rs4 billion loss to the national exchequer due to the non-allotment of 1,250 acres of land, according to an audit report submitted to the Public Accounts Committee (PAC). The land was originally leased to Pakistan Telecommunication Company Limited (PTCL) but has remained in limbo since the lease’s cancellation decision in 2021.
The Auditor General of Pakistan reported that although the lease with PTCL was terminated, the cancellation was not implemented for two years, and PTCL has yet to be refunded. The land, earmarked for a Textile City Industrial Zone, was held by PTCL from 2006 to 2021 without any development.
Maritime Affairs Secretary informed the PAC that the land is now being retrieved and that PQA will settle PTCL’s outstanding dues. PAC Chairman Junaid Akbar Khan questioned the revenue generated from the lease, to which officials responded that Rs901 million had been received and Rs621 million was still pending.
The PAC instructed the Ministry of Maritime Affairs to resolve all outstanding audit issues within six months.
