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Integrity returns $ 50 million from a contract for the Oil Products Distribution Company
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Political 09:46 - 25/08/2019
afsht hyyt alnzaht, on Sunday, the results of the work of the investigation team on the subject of violations of the contract of the distribution of oil products and an investment company, indicating the recovery of the amount (50,000,000) million US dollars to the state treasury.
The Department of Investigations of the Authority, received / Mawazine News / a copy of it, to "set up a special team; to investigate and audit and investigation of violations of the contract between the two companies, pointing out that its efforts resulted in the recovery of the amount of (50181722) million dollars for the benefit of the distribution of oil products through The return of the sukuk disbursed to the investment company during the years (2017-2019) was spent as receivables for the processing of electric power. ”
"
She added that "the total amount of the fine imposed on the investment company amounted to (58240527) million dollars," adding that "has been withheld receivables recorded in the records of the oil products distribution company, and the amount of the remaining financial fines amounted to (7488106) million dollars are deducted from its dues."
The Department confirmed that "the Federal Office of Financial Supervision - Department of Audit of Industrial Activity, supported in a letter to the Integrity Commission, the recovery of the amount (50181722) million dollars from the investment company for the benefit of the distribution of oil products, which in turn referred to the Commission to recover the amount mentioned for its benefit" .
She stressed that "the installation and calibration of the meters for the power plant of the investment company resulted in the recovery of funds, and determine the amounts owed by the company, as well as stop wasting public money that may occur; as a result of non-installation of meters."
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Political 09:46 - 25/08/2019
afsht hyyt alnzaht, on Sunday, the results of the work of the investigation team on the subject of violations of the contract of the distribution of oil products and an investment company, indicating the recovery of the amount (50,000,000) million US dollars to the state treasury.
The Department of Investigations of the Authority, received / Mawazine News / a copy of it, to "set up a special team; to investigate and audit and investigation of violations of the contract between the two companies, pointing out that its efforts resulted in the recovery of the amount of (50181722) million dollars for the benefit of the distribution of oil products through The return of the sukuk disbursed to the investment company during the years (2017-2019) was spent as receivables for the processing of electric power. ”
"
She added that "the total amount of the fine imposed on the investment company amounted to (58240527) million dollars," adding that "has been withheld receivables recorded in the records of the oil products distribution company, and the amount of the remaining financial fines amounted to (7488106) million dollars are deducted from its dues."
The Department confirmed that "the Federal Office of Financial Supervision - Department of Audit of Industrial Activity, supported in a letter to the Integrity Commission, the recovery of the amount (50181722) million dollars from the investment company for the benefit of the distribution of oil products, which in turn referred to the Commission to recover the amount mentioned for its benefit" .
She stressed that "the installation and calibration of the meters for the power plant of the investment company resulted in the recovery of funds, and determine the amounts owed by the company, as well as stop wasting public money that may occur; as a result of non-installation of meters."
[You must be registered and logged in to see this link.]
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