Lok Virsa on the verge of ruin

ISLAMABAD: Lok Virsa set on the loss of billions of rupees through a series of illegal contracts given to a private firm.

According to the findings of AGPR audit and special constituted committee, constituted by Ministry Information, Culture and Heritage revealed that the Cosmos Productions Pvt Limited sold out Lok Virsa through 15 ancillary agreements from the basic umbrella agreement. All these agreements were found lopsided in favor of the private party which caused huge financial loss to Lok Virsa over several years. Let alone only contract of the museum has caused a financial deficit of millions of rupees as pointed out by the audit authorities.

It has been noted that the process of awarding the various contracts to M/s Cosmos Productions Pvt Limited by the then Executive Director was neither legally correct nor financially appropriate. The then ED was neither legally a competent authority to award the agreement nor had authority to exercise the same powers delegated to the executive director.

The approval of Board of Governors of Lok Virsa was not sought for the policy decision as well contracting out for outsourcing/entering into joint venture and collaborations as required under clause 3(2)(V) of Lok Virsa BoG resolution, dated 19/3/1983.