Twirp : Terrorist Wahabi Islamic Republic Pakistan

[Naresh]

<b>SSridhar Ji :</b>

Twirp is out with the Begging Bowl so that Land of the Pure’s Faithful Twirpistanis can improve their Economical and Financial Lifestyles!

<b>Rs 112.28m defalcation in shipyard</b>

<b>AMABAD : General of Pakistan (AGP) has found evidence of Rs 112.28 million worth of embezzlement in the accounts of the Karachi Shipyard and Engineering Works (KS&EW) Limited (KS&EW) and the Ministry of Defence Production.</b>

The AGP office, in its ‘Audit Report on the Accounts of the Public Sector Enterprises for Audit Year 2005-2006’, said that due to no-payment of bills by clients for over three years, the KS&EW had suffered a loss of Rs 73.79 million.

The report said that the chances of financial recovery by the KS&EW were remote, as neither an effective effort had been made to recover the lost revenue nor had any legal action been initiated against defaulters, including government and semi-government departments, private customers and foreign parties.

The KS&EW suffered a Rs 35.44 million loss by purchasing stores, spares and loose tools in excess of its requirements. “It also suffered a loss of Rs 2.74 million for manufacturing and supplying items below their manufacturing cost,” the report said. The KS&EW also faced lost Rs 0.316 million because of liquidated damages.

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->