Senate calls State Life reply on illegal investment

The Public Accounts Committee, meeting under Zahid Hamid, directed the State Life to submit its report to the NAB and the FIA within thirty days.State Life officials briefed the committee that ex-chairman Zahir Khan invested Rs 200 million in illegal businesses, but the investment could not be recovered.Audit officers further said that the PAC had recovered Rs 115 billion from different departments; they recovered Rs 71 billion last year. He said that they were yet to recover Rs 33 billion from oil market and Rs 41 billion from PTA.PTV MD Yousaf Baig Mirza told the committee that PTV had received Rs 4.5 billion from clients as license fee, bearing a loss of billions of rupees between 2008 and 2010.On the other hand, the PTV earned profit worth Rs 150 million out of the Cricket World Cup 2010.He further revealed that the contractor of A TV owes PTV Rs 60 million.