SAI recovers Rs70.642 billion
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.