No, there are two powers. First there's the power to call for persons and papers. Then there is the power to investigate, to examine. Then there is the power to report. But committees do not have the power to direct or discipline ministers or officials. In fact, that power is so rarely used by Parliament itself that it almost doesn't exist there.
The whole of parliamentary democracy works on the basis of publicity and casting a light on the dirty corners of government. The thrust of the Privy Council Office document, when it gets to the area of what the committee can do to investigate, makes it sound more like a meeting of boy scouts than an investigation into things that have gone wrong.