56 public sector companies, brainchild of Shahbaz Sharif and set up under PMLN govt, have come under fire as corruption of Rs. 80 billion has been unearthed. They are accused of incurring losses, financial irregularities, nepotism, and non-completion of projects. A thread.

The companies include: Punjab Saaf Paani Company, Punjab Agriculture & Meat Co, Lahore Transport Company, Lahore Waste Management Company, Lahore Parking Company, Punjab Livestock & Dairy, Quaid-e-Alam Solar Power Co, South Punjab Forest Co, Punjab Health Initiative Management,

Multan Cattle Market Management Company, Punjab Power Development Company, QEA Thermal Power Ltd, QEA Hydel Power (Pvt) Ltd, Punjab Municipal Development Fund Company, Lhr Knowledge Park Company, and so on.

Key positions were awarded to blue-eyed bureaucrats, as well as friends and relatives of the then ruling party, PMLN. Key officials were hired on splendid salaries, almost 10-15 times higher than the normal wages of civil servants.

CEO National Thermal Power: Rs. 2 million per month

CEO Knowledge Park: Rs. 1.4m

CEO Skill Development Company: Rs. 1.1 m

CEO Punjab Urban Development: Rs. 6 lakhs

CEO Punjab Investment & Trade Co: Rs. 8 lakhs

CEO Punjab Model Bazaar: Rs. 6 lakhs

CEO of Saaf Paani Company, Captain (R) Usman, withdrew a monthly salary of Rs. 1.4 million. The company did not provide a single drop of clean water, despite costing Rs. 4 billion to the provincial exchequer.

Apart from the hefty salaries, allowances of up to Rs. 3 lakhs, houses and vehicles were also provided.

Millions were spent on foreign tours for the officials.

Millions were set aside for the purchase of bulletproof vehicles for officers of Saaf Paani Co.

Under official rules, a civil servant deputed in a govt-owned company is only entitled to an allowance of approx Rs. 6000

Financial rules and regulations that govern the normal govt departments did not apply to these companies, even though they were created and run with public

funds, dealing with funds upwards of Rs. 150 billion.

No such company has been able to deliver on its stated goals.