Senators shocked by Rs335 million in perks received by CEO of state-owned entity, call for accountability

The Senators were surprised when the issue of excessive perks for the CEO of Pakistan Reinsurance Company was raised on Tuesday, with Finance Minister Muhammad Aurangzeb assuring that accountability would be pursued and funds recovered, The News reported.

PPP parliamentary leader Sherry Rehman brought up the matter during the session, referring to a news report. She highlighted that while austerity measures were being implemented, the CEO had received Rs335 million in perks and privileges in under three years. 

Rehman accused the company’s board members of colluding to misappropriate public funds, questioning why such substantial sums were spent on a CEO while politicians were held accountable for smaller amounts.

She emphasised the need for accountability but also expressed concern about creating a hostile environment for honest civil servants. Rehman also called for greater parliamentary oversight and empowerment to audit boards and address issues in audit and accounts.

In response, the Finance Minister stated that the prime minister had taken notice of the issue and set up a committee. He assured that the identity of the responsible individuals would be revealed, and recovery would be pursued. 

The minister stressed the importance of government nominees on boards being well-prepared and thorough in their review of documents.