Senate committee for revamping PPRA rules to make effective body

1722

ISLAMABAD, Jan 5 (APP): The Senate Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization Thursday stressed the need for comprehensive measures to make Public Procurement Regulatory Authority (PPRA) an effective organization.
The Senate body was given detailed presentation by the Managing Director PPRA, Khizar Hayat Khan on PPRA mandate, role and responsibilities.
The meeting was chaired by Senator Saleem Mandviwalla, while among others, it was attended by senators Ilyas Ahmed Bilour, Muhammad Mohsin Khan Leghari, Nasreen Jalil, Kamil Ali Agha, Mushahid Ullah Khan, Sardar Fateh Muhammad Muhammad Hassani and Osman Saifullah Khan.
The PPRA managing director while briefing the committee said financial and administrative autonomy was imperative to make PPRA an effective organization for public procurement.
He said the current fee structure needed to be reviewed to ensure financial sustainability of the organization, and urged for notifying employees service regulations and recruiting human resources against the sanctioned posts.
Chairman, Saleem Mandviwalla asked the PPRA MD to come up with sold
recommendations to make amendments in the rules and act of PPRA law to make it an effective body.
The committee was also briefed by the Chairman Securities and Exchange Commission of Pakistan (SECP), Muhammad Zafar-ul-Haq Hijaz about sale of 40 percent strategic shares to a Chinese consortium by the Pakistan Stock Exchange (PSX).
He informed the committee that since the Chinese Consortium was the successful bidder, so in accordance with the regulatory requirements the divestments were made in favour of it.
The committee lauded the efforts of the SECP for on achieving high prices for the shares compared to the expected prices.
The committee also took up the alleged embezzlement of Rs1.5 billion transacted from National Bank (NBP) to Habib Bank.
The National Bank President informed the committee that the bank had done all the transactions in accordance with the standard procedure.
On the occasion, the Habib Bank representative informed the committee that the case was being investigated in his bank and assured the committee that he would come with details in the next committee meeting.
The committee expressed grave concern over this lapse.
The committee, after discussing an issue related to payment of pension to all old-age and ailing pensioners, disposed off the case.
The Competition Commission of Pakistan (CCP), on the occasion briefed the committee on the tender of One Flight Kitchen at Islamabad Airport.
The committee was also briefed on current status of the working paper submitted by the CCP on to amend its act.