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Pakistan unearths graft of Rs 6.98 trillion

Pak`s auditor general has exposed the claims of good governance and better fiscal policies of the government by unearthing widespread financial irregularities.



Islamabad: Pakistan`s auditor general has exposed the claims of good governance and better fiscal policies of the government by unearthing widespread financial irregularities of a whopping Rs.6.98 trillion in 2008-09, the first fiscal year of the ruling coalition.
Irregularities of over Rs.2.5 billion were detected in the accounts of the defence services, including the army, the navy and the air force, Online news agency reported.

The highest irregularities - Rs.116.341 billion - have been detected in the Federal Board of Revenue, followed by Rs.111.174 billion in the ministry of water and power and Rs.22.323 billion in the civil works of various government agencies.

The audit report on the accounts of the ministry of petroleum and natural resources reveals bungling of Rs.17.239 billion, while Pakistan Railways has committed financial wrongdoing of Rs.15.677 billion.

The management of Pakistan Steel also failed to satisfy the auditors about the bungling of Rs.15.656 billion.

The report has detected irregularities of Rs.7.84 billion in the accounts of the Trading Corporation of Pakistan and Rs.3.844 billion in the telecommunications sector.

An anomaly of over Rs.2.95 billion has been detected in the accounts of the Sui Southern Gas Company Limited.

The report has also found an anomaly of Rs.1.08 billion in the accounts of the Employees Old-Age Benefit Institute.

Big ticket fraud has been detected in the accounts of the Pakistan Atomic Energy Commission (Rs.723 million), ministry of petroleum and natural resources (Rs.539 million), ministry of science and technology (Rs.1.1 million), ministry of social welfare (Rs.2.9 million), textile ministry (Rs.11.7 million) and ministry of women development (Rs.100 million).

The following are the departments, corporations and ministries where the audit reports have detected irregularities of over Rs.100 million: Pakistan Baitul Maal (Rs.941 million), Port Qasim Authority (Rs.762 million), Pakistan State Oil (Rs.650 million), ministry of foreign affairs (Rs.574 million), Pakistan Ordnance Factories (Rs.529 million) and Pakistan Re-Insurance Company Limited (Rs.506.36 million).

The other companies named in the report are Pakistan Agricultural Storage and Services Corporation Limited (Rs.463 million), Pakistan Television Corporation (Rs.421 million), Pakistan International Airlines (Rs.347 million), National Fertilizer Marketing Limited (Rs.248 million), Utility Stores Corporation (Rs.247 million), Oil and Gas Development Company Limited (Rs.242 million) and Zakat and Ushr (Rs.234 million).

Also named are Pakistan Broadcasting Corporation (Rs.150 million), National Logistics Cell (Rs.115 million) and Export Processing Zones Authority (Rs.104m).

IANS

From Zee News

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