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The functions of the Finance and Accounts are managed in accordance with
the provisions of the Privatisation Commission Ordinance 2000. All
privatisation proceeds are deposited in a distinct and separate account called
Privatisation Fund Account. The privatisation transaction related expenditure
is drawn from this account and expensed through Commission Account. The
Commission Account has been established to receive supplementary contribution
from the Privatisation Fund for payment of transaction related expenditure and
also receive Budgetary Grant for payment of office running expenses of the
Commission. Net sale proceeds after meeting privatisation related expenditure
are transferred to Federal Government or the entities entitled to such
proceeds. According to the Privatisation Commission Ordinance the net
privatisation proceeds received by the Federal Government are utilized in the
following manner:-
(a). 90% for retirement of Federal Government Debt.
(b). 10% for poverty alleviation programs.
The disbursements are made in accordance with the provisions of the Ordinance
and Privatisation Commission (Delegation of Powers) Regulation, 2002 which
delegates administrative and financial powers, within the ambit of the
Ordinance, to the Chairman and the Secretary PC for running the day to day
business of the Commission.
The accounts of the Commission are audited annually by the Auditor General of
Pakistan. As required by the Privatisation Commission Ordinance, the financial
statements prepared in accordance with the provisions of the Ordinance and
approved accounting standard as applicable in Pakistan are also audited by a
firm of Chartered Accountants. The audited financial statements for the year
ended June 30, 2009, alongwith the Auditors Report were placed before the
Board of Privatisation Commission and adopted in the meeting held on 01-03-2010.
Balance Sheet
Income and
Expenditure Statement
Cash Flow
Auditors Report
Notes (in zip
format)