LAHORE - The Punjab government has constituted a high-powered 3-member tribunal for conducting inquiry into the financial and administrative irregularities of the Punjab Entertainment Company. As per notification issued here the other day, Chairman Task Force on Administrative and Financial Efficiency S. Farooq Naveed, will be the president of the Tribunal, while its other members include, Member Task Force and Chartered Accountant Viqar Ahmad Khan, and senior police officer Khaliq Daad Luck. The Tribunal will complete its enquiry, finalise its findings and forward its recommendations to the government by November 3, 2008. The purpose of setting up the tribunal is to expose the alleged irregularities and malpractices in the PEC, which was established during the tenure of the last government. In exercise of powers conferred by section 3 of the Punjab Tribunals of Inquiry Ordinance 1969 (II of 1969), the government has appointed the Tribunal for the purpose of making an inquiry into the matter of public importance of the release and utilisation of government money and public funds. The Tribunal may exercise all or any of the powers specified in sub-sections from 2 to 6 of section 5 of the Punjab Tribunals of Inquiry Ordinance. The Tribunal will investigate into the planning, administrative and financial irregularities, besides scrutinising all appointments, contract signed by the PEC, affairs related to the iMAX Theatre, and the quantum of loss caused to the public exchequer. Further, the Tribunal will inspect the documents such as vouchers, bills, invoices approvals and all other relevant documents for the purposes of this inquiry. On June 14 this year, the Punjab government had dissolved the PEC after figuring out huge number of irregularities of multifarious nature, and a committee was constituted for probing the PEC affairs, which is yet to submit its report. A number of politicians, and bureaucrats, working with both previous and present political dispensations, have reportedly benefited from the PEC's much-touted IMAX project worth Rs 1411.271 million, which has been decaying in files, while officers have been drawing hefty salaries and enjoying perks sans doing anything tangible since long. After scrapping controversial property-oriented part of the Project, the provincial government has planned to construct a public library on the pattern of the India Office Library besides using the IMAX Theatre for educational purposes only. Chief Minister Punjab Shahbaz Sharif had directed for re-evaluating and probing the project. According to details, former CM Punjab Ch. Pervaiz Elahi, accompanied by former Secretary IC&YA Department Taimur Azmat Osman and the then-Director General Public Relations (present Member Local Government Election Commission) Shoaib Bin Aziz, got the inspiration of having IMAX Theatre in the Punjab during his official visit to England and Germany. Seeing that the investment in the IMAX Theatre project won't be compatible with the privatisation policy of the Pakistan government, it was decided to incorporate the Punjab Entertainment Company (Guarantee) Limited. A 12-Members Board of Directors, headed by Chairman P&D Board Suleman Ghani was constituted, besides including two private members businessman Rana Khalid Manzoor - said to be a close friend of Pervaiz Elahi - and President of Film Producers Association Sajjad Ahmed Gull. The rest of the Directors were: Secretaries Excise & Taxation Muhammad Sami Saeed (present Chairman P&D Board), Finance Salman Saddique, Industries Javed Majeed, Commerce & Investment Saeed Ahmed Alvi, IC&YA Department Taimur Azmat Osman, Housing Javed Aslam (present Additional Chief Secretary), Local Government and Community Development Akhlaque Ahmed Tarrar and C&W Department Sibtain Fazl-e-Aleem, and Managing Director NESPAK Dr Amjad Pervaiz. The IMAX System was purchased at $ 2.523 million (Rs 483.271 million) through a single tender enquiry, which is still with the Corporation in Canada. The Finance Department released Rs 482.721 million for the Theatre, Rs 520.371 million for the Shopping Mall (total cost Rs 820 million), and Rs 50 million for the PEC expenditures, which have been used 100 per cent reportedly. The estimated costs of the Bowling Alley and Display Tower were Rs 23 million and Rs 15 million respectively. Fazeel Asif Jah was appointed as Managing Director against hefty pay of over Rs 4,00,000 besides other perks. It has been reported to the competent authority that Jah indulged in financial irregularities, besides appointing 28 employees, while more than 20 of them were brought from firms where he had worked. These all were given inflated pays. An amount of Rs 100 million were spent on the civil works, and bill of Rs 50 million is outstanding. On the other hand, Rs 70 million have been spent on non-development expenses.