Nov 152017
 
PAC takes notice of irregularities in financial matters of Housing Ministry

ISLAMABAD: A sub-committee of the Public Accounts Committee (PAC) Wednesday took notice of irregularities in the financial affairs of the Ministry of Housing and Works and issuance of a fake letter… [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Click for detailed story

May 102017
 
PAC takes NAB to task for failure to probe Nandipur project

ISLAMABAD: The PAC held its meeting on Wednesday with Syed Khursheed Shah in chair. The agenda included, inter alia, to examine audit paras relating to Ministry of Water and Power (MoWP) for the year… [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Click for detailed story

Apr 102017
 

ISLAMABAD: Despite strict regulations stating otherwise, the Capital Development Authority (CDA) had failed to complete records of projects built in the capital despite the passage of a decade. A sub-committee of Public Accounts Committee (PAC) on Monday conducted a detailed review of audit paras pertaining to the CDA regarding the construction of an underpass and a flyover at Faisal and Jinnah avenues. Chairing the committee at the CDA headquarters, Mian Abdul Mannan observed that despite the lapse of ten years, CDA had failed to complete the project records. According to the blue book, he said that all project records should be completed within three months of a project’s completion. Published in The Express Tribune, April 11th, 2017. The post External Audit: CDA failed to complete project records appeared first on The Express Tribune. Click for detailed story

Aug 302016
 

ISLAMABAD: The Public Accounts Committee (PAC) was informed on Tuesday that sacked staffers of the Employees Old-Age Benefits Institution (EOBI) had fled with vehicles worth Rs480 million. The revelations were made during the PAC meeting with Khusheed Shah in the chair. The PAC chairman directed the authorities to recover the vehicles and submit a report. EOBI had purchased vehicles worth Rs480 million and given them to the newly appointed officials on loan. The Supreme Court, however, declared the appointments illegal and subsequently the officers were dismissed along with the vehicles. EOBI Chairman Sualeh Faruqui said the vehicles had been given to the employees on loan under an initiative of the then board of governors to improve recovery of the EOBI “that no doubt improved in that particular year”. The chairman said the EOBI had assets of Rs300 billion but its resources were depleting due to a rising number of pensioners. “The EOBI can survive till 2027 under the prevailing situation,” he added. He said former EOBI chairman Zafar Gondal, financial adviser, financial officer, former director general and other staffers were either behind bars or under investigation in the case regarding the purchase of 18 properties at exorbitant prices. The EOBI had spent Rs34 billion on scandalous purchases. The EOBI chairman said after the 18th Amendment, subjects of welfare of labour and old-age pension, etc., had been deleted from the concurrent list. Giving reasoning of fewer recoveries from the employers, the chairman said the EOBI Act requires actuarial valuation of the EOBI [Read More…]

May 312016
 

ISLAMABAD: The Sub-Committee of the Public Accounts Committee (PAC) unanimously opposed the privatisation of Heavy Electrical Complex (HEC), saying that it was now earning a profit. The committee, chaired by Syed Naveed Qamar, discussed the audit paras of Ministry of Industries and Production for fiscal year of 2002-03.  An audit official told the committee that Heavy Mechanical Complex (Taxila), Pakistan Machine Tool Factory (PMTF) Karachi and HEC had not made payment of interest to the State Engineering Corporation (SEC). To this, Secretary Industries Khizer Hayyat Gondal informed the committee that the three organisations were now reviving and would be helpful in the early completion of CPEC. SEC Chairman Kukab Mohyuddin briefed the members that the HEC had earned around Rs46 million from July-2015 to April-2016 and its performance had improved. Published in The Express Tribune, June 1st, 2016. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation. The post PAC: Sub-committee opposes privatisation of HEC appeared first on The Express Tribune. Click for detailed story

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