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AJK, GB govts and various institutions in default of trillions of rupees
- Abobakar Khan
- Dec 04, 2023
ISLAMABAD: According to a report by the Ministry of Commerce presented to the Senate Standing Committee on Commerce for Azad Jammu and Kashmir (AJK) and Gilgit Baltistan, several institutions owe trillions of rupees to the Trading Corporation of Pakistan (TCP).
As disclosed by the document exclusively obtained by the Hum Investigation Team, the liabilities of 11 different institutions, involving two provincial governments, have surged to Rs259,256.78 million.”
Official sources report that the Trading Corporation of Pakistan (TCP) holds outstanding dues related to imported wheat, urea, and sugar. The liabilities comprise Rs153,744 million in markups, with an additional Rs105,512.73 million in the principal amount.
Documents reveal that the National Fertilizer Marketing Limited (NFML) is indebted to TCP for Rs104,227.55 million, encompassing both the principal and accrued markups. Similarly, the Utility Stores Corporation is in default of Rs86,110.94 million, inclusive of the markup amount.
The Pakistan Agricultural Storage and Services Corporation (PASSCO) has to pay Rs4,928.73 million to the TCP. The Ministry of National Food Security and Research (MNFS&R) cotton subsidy is in default of 2,143.82 million rupees, while the Ministry of Industry and Production has to pay 14,519.37 million rupees.
Moreover, the food departments of all provinces, including Sindh, Punjab, Khyber Pakhtunkhwa, and Balochistan, are also included in the list of defaulters. The Punjab Food Department has to pay the highest amount worth Rs13,206.34 million, followed by the Khyber Pakhtunkhwa Rs9,929.45 million, while Sindh owes 8897.54, and the Food Department of Balochistan owes Rs7,127.16 million to TCP.
Nevertheless, the Azad Jammu and Kashmir (AJK) government owes Rs1,670.79 million, while Gilgit-Baltistan is indebted Rs 5,043 million to TCP.
The Directorate General of Procurement (Army) owes Rs1,278.21 million, while the Pakistan Navy has to pay Rs173.88 million to the TCP.