SAI re­cov­ers Rs70.642 bil­lion

The Pak Banker - - Front Page -

IS­LAM­ABAD

The ver­i­fied re­cov­er­ies of Supreme Au­dit In­sti­tu­tion(SAI)has amounted to Rs.70.642 bil­lion dur­ing fi­nan­cial year 2011-12 whereas the ex­pen­di­ture of Au­di­tor Gen­eral of Pak­istan(AGP)was re­mained at Rs.1.59 bil­lion dur­ing this pe­riod.

Ac­cord­ing to an of­fi­cial, for the au­dit year 2011-12 the au­dit fa­cil­i­tated re­cov­ery was Rs.25.726 bil­lion and the ex­pen­di­ture of Pak­istan Au­dit depart­ment stood at Rs.2.424 bil­lion. The of­fi­cial said Rs.10.6 were re­vo­cred and ver­i­fied for ev­ery ru­pee spent on the SAI's op­er­a­tions in the au­dit year 2011-12.

Out of over­all 44,000 fed­eral, pro­vin­cial and dis­tricts gov­ern­ment en­ti­ties the Au­di­tor Gen­eral of Pak­istan car­ried out the au­dit of ap­prox­i­mately 9,000 or­gan­i­sa­tion and the au­dited out­lays to­talled up to Rs.4.474 tril­lion rep­re­sent­ing rev­enue re­ceipts, dis­burse­ments and ex­pen­di­ture.

Dur­ing the au­dit year 201112 the re­cov­ery of an amount of Rs 25.726 bil­lion was made at the in­stance of au­dit while Rs 1.857 tril­lion was placed un­der au­dit observations.

Last week, Tanveer Ahmed the Ad­di­tional Au­di­tor Gen­eral of Pak­istan told the Se­nate Stand­ing Com­mit­tee on Fi­nance and Rev­enue that Rs.294.555 bil­lion was re­cov­er­able whereas cases of fraud, em­bez­zle­ment and theft amount­ing to Rs 24.299 bil­lion were de­tected. The au­dit au­thor­i­ties also de­tected ac­count­ing er­rors of Rs 5.072 bil­lion and weak­nesses of in­ter­nal con­trol of Rs 193.297 bil­lion dur­ing the au­dit year. As much as Rs 300.069 bil­lion was placed un­der au­dit ob­ser­va­tion on ac­count of other heads.

AGP also iden­ti­fied 15 pub­lic sec­tor en­ti­ties which were per­sis­tently re­fus­ing to get their ac­counts au­dited by AGP.These in­cluded Se­cu­ri­ties Ex­change Com­mis­sion of Pak­istan (SECP), Pak­istan Med­i­cal and Den­tal Coun­cil (PMDC), Pak­istan Poverty Al­le­vi­a­tion Fund (PPAF), Peo­ple's Pri­mary Health Ini­tia­tive (PPHI) in Khy­ber Pakhtunkhwa, Agri Busi­ness Sup­port Fund, Pak­istan Ord­nance Fac­to­ries Wel­fare Trust Fund, Na­tional Bank of Pak­istan (NBP), PakChina In­vest­ment Com­pany, De­fence Hous­ing Author­ity (DHA), Pak­istan Telecom­mu­ni­ca­tion Com­pany Lim­ited (PTCL), Na­tional Data­base and Reg­is­tra­tion Author­ity (NADRA), Vir­tual Univer­sity Lahore , Na­tional Press Trust, Wah No­bel Pri­vate Lim­ited and record of the as­s­esees by the Fed­eral Board of Rev­enue.

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