Apr 22, 2017

CID to probe irregularities in 4 road development units

Several irregularities have emerged in the establishment of four new state-owned companies, about four years ago, for road development projects to improve the existing road networks based on cabinet approval.

Maganeguma Emulsion Production Company (Pvt) Ltd, Maganeguma Consultancy and Project Management Services Company (Pvt) Ltd, Maganeguma Road Construction Equipment Company (Pvt) Ltd and Expressway Transport (Pvt) Co were the four set up under the Road Development Authority (RDA) in 2013.

The Committee on Public Enterprises (COPE), during its investigations, found that these companies were set up without following the proper procedure and therefore was neither systematic nor legal.

COPE also discovered that neither the Ministry of Highways nor the RDA possessed any information regarding the methodology that had been adopted in establishing these companies.

The Committee has directed the Ministry and RDA to hand over to the Criminal Investigation Department all the details of the companies and the documents that contain information about the establishment of these companies