New Delhi, Aug 15: A parliamentary committee has asked the Finance Ministry to devise suitable measures to safeguard the custody of revenue that should form part of the Consolidated Fund of India. Pulling up the Textile Ministry for the Apparel Export Promotion Council (APEC) for "wrongfully" crediting forfeited penalties realised from defaulters under Quota regime in a Personal Deposit Account, the Public Accounts Committee (PAC) has said it was the revenue of the state and the amount ought to have been credit to the Consolidated Fund of India.
"The Committee had observed in their original report that penalty realised by AEPC from the defaulters under Quota regime was in consequence of a statutory rule made by the Textile Ministry and therefore it was the revenue of the state and the amount ought to have been credit to the Consolidated Fund of India in according with the provisions of Article 266 (1) of the Constitution", the report said.

The PAC Committee headed by Buta Singh in its report tabled in Parliament, said while it appreciated that its recommendations have been accepted by government, the Finance and Company Affairs Ministry should devise suitable measures to ensure expeditious implementation of the recommendations.
The PAC report on Textiles titled "Undermining of Parliamentary Financial Control", observed that the AEPC, a non-government body, has been assigned the work of allocating export entitlements and necessary certification for exports of all ready-made garments and knitwear on behalf of the government. Bureau Report