Home ECONOMY NEPRA offers official vehicles to directors at 10pc

NEPRA offers official vehicles to directors at 10pc

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NEPRA offers official vehicles to directors at 10pc

ISLAMABAD: As the government is adopting “austerity measures” to reduce the burden on the national exchequer, National Electric Power Regulatory Authority (NEPRA) is offering its directors the option to buy official vehicles at 10pc of the original cost.

According to documents available with this scribe, NEPRA has offered nine of its directors, including four additional director generals, the option to buy those official vehicles that are currently in their possession “after depositing 10pc of the original cost of the said vehicles”.

The directors have also been asked to deposit the amount in the NEPRA account so that the title of the vehicle could be transferred in their names.

The lucrative offer was made to NEPRA additional director generals Naweed Illahi, Imtiaz Baloch, Qamaruz Zaman, Sajid Akram and directors Iftikhar Ali Khan, Rafique Siddique, Abdul Ghafoor, Muhammad Yousaf.

As per the sources, NEPRA had made budgetary provisions of Rs62.80 million for the financial year 2019-2020 to purchase new vehicles. However, they added, if these vehicles are auctioned, millions of rupees could be deposited in the national exchequer.

It is pertinent to mention that in an apparent bid to oblige its officers, NEPRA had approved a car policy in the year 2014 under which vehicles were handed over to its high officials at subsidized rates.

As per the NEPRA Car Policy, additional director general, director general, senior advisor, director and legal advisor are entitled to an official vehicle after successful completion of probation period while contract employees who sign two-year contracts with NEPRA and have rendered six months satisfactory service are also entitled to a vehicle.

“All NEPRA vehicles will be provided with floormats, fire extinguishers, seat covers, first aid kits, security alarm system and comprehensive insurance.”

The policy further states that entitled vehicles will be replaced after every five years and the employees will have the option to buy the vehicles at written down book value (depreciated at 20pc per annum) or 10pc of the original cost in case the vehicle is fully depreciated.

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