ISLAMABAD: The federal government has decided to appoint a new managing director for Utility Stores Corporation (USC).
According to sources, the Ministry of Industries & Production has initiated the process for hiring the new MD after taking the approval from the federal cabinet.
The government will appoint the new MD from the private sector for a period of three years, sources said, adding that the two-year tenure of incumbent MD Umar Lodhi will expire in May this year.
It may be noted that Lodhi remained in hot waters throughout his tenure due to his differences with the USC chief financial officer (CFO) as well as its former chairman.
USC CFO Hamoodur Rehman had written a letter to the corporation’s board of directors with regard to serious violations of BOD resolutions and rules as well as corrupt practices by the incumbent USC MD.
“The USC board in its 151st meeting held in July 2019 had resolved that posting of accounts and finance staff in head office, zones and regions should be done with the recommendations of the CFO, but transfers/postings of around eight blue-eyed officials were made without the CFO’s consent,” the letter read.
He further revealed that the USC had hired the USC MD on an MP-1 scale, “but Lodhi was not only enjoying monetisation allowances but had also kept three vehicles for his personal use, which is illegal and unjustified”.
It is pertinent to mention that former USC chairman Zulqarnain Ali Khan and incumbent MD Umar Lodhi had accused each other of corruption, irregularities and abuse of powers. It was due to these accusations that the former chairman had to resign.
