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PTV lost over Rs 843 million in FY07-08: Audit
Published by TV Explore on October 22, 2009
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The Auditor General of Pakistan has pointed out major financial losses in the accounts of Pakistan Television Corporation (PTV) channels for the financial year 2007-08.
“The channel-wise statement of income and expenditures showed losses of Rs 116.005 million in 2007-08 on the non-viable project of PTV-1 (accumulated losses of Rs 8.187 billion), losses of Rs 664.981 million on PTV World (accumulated losses of Rs 2.834 billion), losses of Rs 50.122 million on PTV National (accumulated losses of Rs 206.668 million) and losses of Rs 12.140 million on PTV Global,” according to the AG’s report.
It said PTV’s revenues increased by 19 percent from Rs 3.805 billion in 2006-07 to Rs 4.536 billion in 2007-08. “The increase in advertising income was 38 percent, which resulted in an operating profit of Rs 148.350 million in 2007-08, compared to operating losses of Rs 296.566 million in 2006-07,” the report added.
It said loans, advances, deposits, pre-payments and other receivables increased 18 percent to Rs 1.762 billion in the fiscal year 2007-08.
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