March 27, 2003	Thursday	Muharram 23, 1424

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ISLAMABAD, March 26: Former PTV managing director Yousaf Baig Mirza was relieved of his responsibilities as a matter of routine, and the termination of his contract was in no way connected with the issue of payment of arrears to PTV by any of its clients.

“It is, therefore, unfair and clearly wrong to attribute the termination of the contract of the former PTV MD to any other reason,” a PTV spokesman said.

He said the corporation earned an annual advertising revenue of about Rs2.2 billion. Under the given industry practice of 90 days credit, the corporation’s clients owed an average sum of over Rs500 million to PTV at any given time, which was normal, he added.

He said the corporation, for the past many years, had been allowing credit beyond 90 days to a number of clients under special circumstances to increase revenues.

This practice was in vogue during the tenure of former MD Yousaf Baig Mirza, who occasionally sought approval of the board of directors, whenever, he considered it necessary. Therefore, it was not true that his contract was terminated on account of initiation of any recovery proceedings, he said.

The spokesman said the corporation had always pursued a consistent client-friendly policy without compromising on its financial interests.

He said there had never been pressure from any quarters against this policy of the PTV management as a result of which the corporation achieved higher financial targets every year. He said PTV’s clients continued to pay their dues as per the corporation policy and whenever amounts became overdue, the management negotiated with the clients concerned and payments were recovered under mutually agreed arrangements, a policy initiated and also pursued by the former MD.