THIS is apropos the letter ‘Pakistan Steel’ (June 28). I agree with the writer. Having served in the public sector for over 31 years, 19 years at the top management level, I know in and out of public sector companies and how they were managed by the successive PPP and PML-N governments.

The PPP and PML-N governments are responsible for the bad management and looting of the public sector companies, but the magnitude and modus operandi were different.

The PPP governments were aggressively involved in destroying these entities by employing an excessive workforce and posting corrupt and incompetent CEOs of these entities with mala fide intentions. The PML-N governments were also involved in corrupt practices.

Everyone knows the high level of corruption committed by the chairman of Pakistan Steel during the tenure of Benazir Bhutto. During the last PPP government, a highly incompetent and corrupt retired officer was appointed the Pakistan Steel chairman.

On the instructions of the Senate Committee on Industries, then headed by Senator Ishaq Dar, the ex-finance minister, I was asked in 2009 to conduct an inquiry into the financial matters of Pakistan Steel owing to huge losses of about Rs22 billion incurred by the company in a single year under the chairman during the Benazir government.

Pakistan Steel was earning profits before his assignment and even paid dividends of billions of rupees to the government.

My inquiry report highlighted the gross irregularities committed in Pakistan Steel. The inquiry report was appreciated by the members of the Senate Committee on Industries, including Senator Haroon Akhtar. Pakistan Steel was left to bleed to reach the present incurable state.

A foolproof system of accountability has to be implemented in Pakistan. The PTI government seems to be the only and last hope to save Pakistan.

Abdul Bari Khan
Karachi

Published in Dawn, July 5th, 2020