Islamabad: The Auditor General of Pakistan has revealed in his latest audit report of 2014 that Pakistan Television Corporation (PTV), has suffered accumulated 773 million financial loss in one year, due to financial mismanagement, corruption and nepotism and has also directed Sectary Information and Broadcasting to take revolutionary measures to make the corporation a profitable entity.

The report said that corruption and nepotism is embedded in the corporation. No one is there to put the corporation on the right path. The affairs of the corporation are being run on ad hoc basis as no solid step seemed to be taken to hold the corrupt people.

While highlighting the mismanagement in PTV, the audit report pointed out that the corporation paid Rs 6 million to Islamabad Club for the membership of its four employees, including Assadullah Khan, Qazi Mustafa, Mr Jaspal and Fakhar Hameed who is financial head of the corporation.

Former Managing Director Yousaf Baig embezzled more than 10 Rs million extra as commission on the advertisement that was agreed upon by the former federal sectary, which is glaring violation of rule and procedure and granted him undue favor.

The government has appointed a lot of anchorpersons, violating its own merit policy and as result the corporation has to suffer loss of more than Rs 131 million annually. The PTV bosses entered into an agreement with East West company for marketing rights in Europe and USA and in this flimsy agreement has caused total loss to the corporation more than Rs 82 million.

The management hired the service of former officer Agha Masood Shorash and paid him more than Rs 3 million unlawfully, and the management plundered Rs 3 million on the name of seminar held for the training of journalist community, the report detected.

The PTV is so generous to the Ministry of Information that it has handed over its 20 vehicles to senior officers of the ministry and the corporation has to suffer the loss of Rs 15 million financial burden annually.

The report pointed out that the corporation 23 producers are taking huge salary and other benefit without rendering any services, for the last three years. Former caretaker information minister inducted 324 persons in PTV in violation of merit.

The management hired the service of Juggan Kazzim for morning show and agreed to pay her Rs 53,180 per day, on two hour transmission and paid her so far more than Rs 20 million which is glaring violation of open completion.

The report says that PTV management purchase three program from private sector and incurred Rs 15 million loss and has also paid huge sum of money to three lawyers, who are fighting the case of incumbent MD appointment case in different courts of the country. In a report the Audit General of Pakistan has also advised that revolutionary steps must be taken to revamp the corporation.

The report also highlight the huge salary package of MD Muhammad Malik which is Rs 1.6 million per month, as it has been described glaring violation of government policy.

According to sources, MD Muhammad Malik admitted that massive irregularities have been committed and now well known audit company Ferguson, has been requested to audit the whole financial matter of the corporation.

He said PTV has approached Islamabad Club administration to take Rs 6 million back which was paid to it for the membership of its employees. The Club administration has refused to pay us back, saying the membership were granted to four employees on their personal request.