| Pakistan: Integrity Scorecard Report > Sub-Category: State-Owned Enterprises | ||
| Indicators | Score | |
| 64 | In law, is there an agency or equivalent mechanism overseeing state-owned companies? | 100 |
| 65 | Is the agency or equivalent mechanism overseeing state-owned companies effective? | 80 |
| 66 | Can citizens access the financial records of state-owned companies? | 55 |
Indicator and sub-Indicator Details
| 64 | In law, is there an agency or equivalent mechanism overseeing state-owned companies? | |||||||
| 64: In law, is there an agency or equivalent mechanism overseeing state-owned companies? | ||||||||
|
||||||||
|
Comments: References: The Council of Common Interests (CCI) Interview with Riaz Ali Shah, advocate, PHC, Peshawar
|
||||||||
| 65 | Is the agency or equivalent mechanism overseeing state-owned companies effective? | |||||||
| 65a: In law, the agency or equivalent mechanism overseeing state-owned companies is protected from political interference. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
|
||||||||
| 65b: In practice, the agency or equivalent mechanism overseeing state-owned companies has a professional, full-time staff. | ||||||||
|
||||||||
|
Comments: References: The Ministry of Commerce and Industry Interview with Riaz Ali Shah, advocate, PHC, Peshawar
|
||||||||
| 65c: In practice, the agency or equivalent mechanism overseeing state-owned companies receives regular funding. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Funding is on regular basis, yet mangerial and government oversight exist.
|
||||||||
| 65d: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies independently initiates investigations. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: To secure the department's reputation, the overseeing companies are internally influenced.
|
||||||||
| 65e: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies imposes penalties on offenders. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Only the banking sector, which is privatized, is accountable and subject to penalties. On the other hand, government officials are rarely penalized; very few cases have reported in the newspapers.
|
||||||||
| 66 | Can citizens access the financial records of state-owned companies? | |||||||
| 66a: In law, citizens can access the financial records of state-owned companies. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: According to an interview with Muhammad Rashid Akber Khan, Economic Affairs, Muslim Commercial Bank Pakistan, citizens do not have access to these records but final reports are published ocassionally.
|
||||||||
| 66b: In practice, the financial records of state-owned companies are regularly updated. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Internal and external audits are regularly conducted.
|
||||||||
| 66c: In practice, the financial records of state-owned companies are audited according to international accounting standards. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Two types of audits are conducted: internal and external. An internal audit is conducted by the organization's staff, and does not meet international standards because of lack of professionalism. For an external audit, qualified Charter Accountants are called in from private companies. Selection of external companies to conduct audits is made by the state-owned company so the threat of changing an audit company always exists. Through this mechanism, state-owned companies influence the results of external audits.
|
||||||||
| 66d: In practice, citizens can access the financial records of state-owned companies within a reasonable time period. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Summarized financial statements can be accessed, but the detailed record is not provided and that is justified by concerns for privacy.
|
||||||||
| 66e: In practice, citizens can access the financial records of state-owned companies at a reasonable cost. | ||||||||
|
||||||||
|
Comments: References: Interview with Riaz Ali Shah, advocate, PHC, Peshawar
Peer Review Comments: Nominal cost is charged, but the procedure to obtain the record can be time consuming.
|
||||||||
Global Integrity uses a