{"id":136219,"date":"2026-11-11T08:34:47","date_gmt":"2026-11-11T03:34:47","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=136219"},"modified":"2026-11-11T08:34:47","modified_gmt":"2026-11-11T03:34:47","slug":"public-accounts-committee-seeks-to-delay-power-firms-sell-off-until-asset-valuation","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/","title":{"rendered":"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">ISLAMABAD(National Times)- The Pub\u00adlic Accounts Committee (PAC) on Tuesday propo\u00adsed deferring the privatisation of power companies, expected to take place in January, until their assets, machinery, land and other properties are properly assessed and revalued to prevent potential losses to the national exchequer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The proposal came after Auditor General of Paki\u00adstan Maqbool Ahmad Gon\u00addal raised concerns that the government was relying on outdated valuations of public assets during a meeting of the PAC to examine the audit reports of the Power Division and its attached entities for 2024-25.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The committee observed that the management had failed to revalue fixed ass\u00adets worth Rs624.47 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Auditor General\u2019s office also pointed out that the companies had not tag\u00adged their assets, reflecting negligence in complying with directives of the Nati\u00ado\u00adnal Electric Power Regul\u00ada\u00adtory Authority (Nepra).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It said property, plant and equipment were key components of financial statements, and inaccurate valuations could distort a company\u2019s overall financial position.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PAC Chairperson Shah\u00adida Begum said the actual value of the assets needed to be determined and properly categorised before proceeding with privatisation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cUntil we know their exact value, how can we privatise them? If the assets are sold without proper valuation, it will definitely result in a loss for the government,\u201d she said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She called for another meeting in three weeks to review the privatisation process and ensure that the assets were assigned their correct market values before further steps were taken.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Privatisation Commission and the Power Division were directed to submit detailed reports at the next meeting.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/www.dawn.com\/news\/2043675\/public-accounts-committee-seeks-to-delay-power-firms-sell-off-until-asset-valuation#rs86bn-payments-questioned\"><\/a>Rs8.6bn payments questioned<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The committee also examined audit objections concerning payments of Rs8.648bn borne by electricity consumers because of poor planning, faulty procurement of equipment and deficiencies in the performance of a grid station and its associated transmission line.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During a performance audit of the power transmission system for wind projects in the Sindh Wind Corridor, auditors found that Rs8.6bn had been paid to wind power producers under the Non-Pro\u00adject Missed Volume (NPMV) mechanism.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The projects were ready to supply electricity, but the 220kV Jhim\u00adpir Grid Station could not handle their full output because of frequ\u00adent tripping and system instability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The management attributed the losses to faulty equipment procurement and worsening climate change conditions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MNA Munazza Hassan took exception to the response when National Grid Managing Director Altaf Hussain attributed the loss to climate change. Calling it criminal negligence, MNA Shazia Marri lamented resistance to renewable technologies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regarding the Rs8.6bn amount, she said the matter had not been settled and that further details would be sought at the next meeting, along with the relevant inquiry report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She said the issue would be taken up again after the required information and assessments had been completed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD(National Times)- The Pub\u00adlic Accounts Committee (PAC) on Tuesday propo\u00adsed deferring the privatisation of power companies, expected to take place in January, until their assets, machinery, land and other properties are properly assessed and revalued to prevent potential losses to the national exchequer. The proposal came after Auditor General of Paki\u00adstan Maqbool Ahmad Gon\u00addal raised [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":136220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-136219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest_news","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation - Nation\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD(National Times)- The Pub\u00adlic Accounts Committee (PAC) on Tuesday propo\u00adsed deferring the privatisation of power companies, expected to take place in January, until their assets, machinery, land and other properties are properly assessed and revalued to prevent potential losses to the national exchequer. The proposal came after Auditor General of Paki\u00adstan Maqbool Ahmad Gon\u00addal raised [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/\" \/>\n<meta property=\"og:site_name\" content=\"Nation\" \/>\n<meta property=\"article:published_time\" content=\"2026-11-11T03:34:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2026\/11\/image-670x370-21-6.png\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"370\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"humza Jahangir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"humza Jahangir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/\",\"name\":\"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation - Nation\",\"isPartOf\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2026\/11\/image-670x370-21-6.png\",\"datePublished\":\"2026-11-11T03:34:47+00:00\",\"author\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/#primaryimage\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2026\/11\/image-670x370-21-6.png\",\"contentUrl\":\"https:\/\/nationaltimes.pk\/eng\/wp-content\/uploads\/2026\/11\/image-670x370-21-6.png\",\"width\":670,\"height\":370},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationaltimes.pk\/eng\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#website\",\"url\":\"https:\/\/nationaltimes.pk\/eng\/\",\"name\":\"Nation\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationaltimes.pk\/eng\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/27efa35fa76e99f3ad7e7397d7332c16\",\"name\":\"humza Jahangir\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationaltimes.pk\/eng\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/43feedd99bd6a90080d1621b7e6604364acb673ee979d3ffe5075557c14c68b9?s=96&d=mm&r=g\",\"caption\":\"humza Jahangir\"},\"url\":\"https:\/\/nationaltimes.pk\/eng\/author\/humza\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation - Nation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationaltimes.pk\/eng\/2026\/136219\/","og_locale":"en_US","og_type":"article","og_title":"Public Accounts Committee seeks to delay power firms\u2019 sell-off until asset valuation - Nation","og_description":"ISLAMABAD(National Times)- The Pub\u00adlic Accounts Committee (PAC) on Tuesday propo\u00adsed deferring the privatisation of power companies, expected to take place in January, until their assets, machinery, land and other properties are properly assessed and revalued to prevent potential losses to the national exchequer. 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