The Hon. Arkam Ilyas

¶ 01 According to the Auditor General, approximately Rs. 22.3 billion in losses are noted. As at today, for 13 ships, we have withheld USD 17 million (about Rs. 5.1 billion). Additionally, the bid bond of USD 15 million (about Rs. 4.5 billion) is with us, totalling around Rs. 9.6 billion withheld from the company. If there is a Rs. 22.3 billion loss, we are already holding a significant portion and will pursue further recoveries as required. Also, during your time, a USD 1.5 million loss occurred which is still under litigation; had that been recovered, we could have reduced electricity bills marginally.

¶ 02 A key issue raised is failure to deliver coal within the planned timeframe due to ship delays. Earlier, a Cabinet-selected supplier replaced a tender-selected party and delivered late; we have imposed around USD 0.5 million in penalties for delayed ships for the first time in 15 years. We will examine every delayed ship and recover penalties. We do not stand for companies; if they are at fault, we recover penalties.

¶ 03 The Auditor General pointed out shortcomings; we have adjusted upcoming tenders and presented our analysis and comments. In our procurement process and in penalty collection, we have not committed any irregularities.

¶ 04 In conclusion, no amount will be charged to the public through the electricity bill due to this coal matter. We have already withheld around Rs. 9.6 billion and will recover more if new issues arise. We will not burden the people. Thank you.