India's public broadcaster Prasar Bharati may run out of money for operational costs and salaries in two months time, after a long running accounting spat has led the government to hold back funding.
The Information and Broadcasting Ministry has refused to release grants for the fiscal year 2012-2013 as audited accounts have not emerged from Prasar Bharati for the past two years, according to The Economic Times.
"All that is humanly possible is being done to set the matter right," Jawahar Sircar, chief executive, Prasar Bharati is quoted as saying in the newspaper.
The disagreement between two senior executives over the accounts for fiscal 2009-2010 raged for over a year before the appointment of Sircar in February 2012. The battle has involved court proceedings and allegations of corruption.
The Information and Broadcasting Ministry, which reportedly provides two thirds of the public broadcaster's annual budget is required to place Prasar Bharati's accounts before Parliament by the end of each calendar year.
Deadlines have now passed for the presentation of two sets of audited accounts - for the fiscal years 2009-2010 and 2010-2011.
"The crux of the disagreement is over what accounting standards are to be followed by Prasar Bharati. One side has argued that the accounting standards applicable to all normal companies must be applied, while the other side feels that only those notified under the Prasar Bharati Act are applicable," Sircar told the Economic Times.
"The committee [comprising Comptroller & Auditor General, Controller General of Accounts and Indian Institute of Corporate Affairs] will now determine which standards are applicable and make recommendations about whether we need more transparency and more rigorous reporting."
Prasar Bharati runs public television network Doordarshan and All India Radio, which combined employ over 50,000 people.
http://in.rapidtvnews.com/topics/broadcast/2177-prasar-bharati-funding-hit-by-accounting-dispute
The Information and Broadcasting Ministry has refused to release grants for the fiscal year 2012-2013 as audited accounts have not emerged from Prasar Bharati for the past two years, according to The Economic Times.
"All that is humanly possible is being done to set the matter right," Jawahar Sircar, chief executive, Prasar Bharati is quoted as saying in the newspaper.
The disagreement between two senior executives over the accounts for fiscal 2009-2010 raged for over a year before the appointment of Sircar in February 2012. The battle has involved court proceedings and allegations of corruption.
The Information and Broadcasting Ministry, which reportedly provides two thirds of the public broadcaster's annual budget is required to place Prasar Bharati's accounts before Parliament by the end of each calendar year.
Deadlines have now passed for the presentation of two sets of audited accounts - for the fiscal years 2009-2010 and 2010-2011.
"The crux of the disagreement is over what accounting standards are to be followed by Prasar Bharati. One side has argued that the accounting standards applicable to all normal companies must be applied, while the other side feels that only those notified under the Prasar Bharati Act are applicable," Sircar told the Economic Times.
"The committee [comprising Comptroller & Auditor General, Controller General of Accounts and Indian Institute of Corporate Affairs] will now determine which standards are applicable and make recommendations about whether we need more transparency and more rigorous reporting."
Prasar Bharati runs public television network Doordarshan and All India Radio, which combined employ over 50,000 people.
http://in.rapidtvnews.com/topics/broadcast/2177-prasar-bharati-funding-hit-by-accounting-dispute
