Gaduridos

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Independent audit confirms financial mismanagement in the major petroleum giant
A comprehensive audit, requested by the parliamentary majority, has uncovered significant financial irregularities within Petróleos Gaduridanos 
23 August 5660



In a shocking release on Friday, the report of an audit of the parliamentary governing social democrat majority has exposed significant financial irregularities within the Petróleos Gaduridanos (Pegad), the nation's oil and gas giant, previously operating as a state-owned enterprise before being partially privatised by the Radical-Reform administration led by Rufino Esau Cervantes in 5632. The report findings raised many questions about whether the partial privatisation has weakened the institution's oversight mechanisms, allowing for the unchecked spending to flow within the petroleum company.

The 236-page-long audit describes in detail the irregularities with procurement, inflated equipment contracts, and unexplained consulting fees, with all problems listed above amounting to nearly 239 million fleurs between 5633 and 5659. Members of the audit committee have noted a pattern of tenders awarded without proper competitive bidding, as required by law, often under the "urgent procurement" loopholes, something which has been used far more often after the privatisation. "Former Prime Minister Esau Cervantes and his government assured everyone that the new partially private-owned Pegad will be much more transparent and effective", said the chair of the parliamentary audit committee, Nicté Guerrero (PSSG). "Instead, what we have on our hands currently is a company which works even worse than before the 5632 reforms, inheriting the worst of the neoliberal world: opaque financial practices of an unregulated private entity. Luckily, we exposed it, and will proceed now with federal legislation to stop it and bring back Pegad into proper public ownership."

In her weekly press conference, Prime Minister Ximona García has called the findings of the parliamentary audit a "serious breach of public trust", as well as a "danger to the stability of economic stability". PM would later add that after consultations with her government and the Secretariat of Finance in particular, there will be a quick response from the government, with criminal investigations into high-level officials of Pegad in the 5633-5659 period, as well as dismissal of the current executive director of the company, Azael Salinas. "We will not tolerate incompetence and mismanagement in one of the, if not the most important, Gaduri industries", said the chief of the Gaduri government, Ximona García.

Sources within the federal government said that once the report was released, PM was furious, immediately calling Pegad's CEO, Salinas, demanding detailed explanations from him. However, reportedly, Salinas did not answer the call, prompting García to arrange a decree dismissing Salinas, something which has not been announced publicly yet. According to one of the interlocutors in the federal government, PM has been strongly urging her finance secretary to work with the PSSG's parliamentary caucus and to introduce a renationalisation law.



Las Contradicciones is a Gaduri online newspaper, previously established as the national printing paper, but ceased printing publications in 5580.
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