The housing societies witness improvement due to reforms introduced by the Islamabad Capital Territory (ICT) administration and an amount of Rs 53 million embezzled money has been recovered during one year.
The registrar of ICT Cooperatives Department recovered Rs 53 million and possession of 71 plots have been handed over to members during last one year through spontaneous complaint management system, official sources in ICT said.
The sources said that Islamabad Cooperative Societies’ circle registrar has introduced second phase of reforms in the housing department to curb corrupt practices and ensure transparency in financial matters of co-operative housing societies working in Islamabad.
In this regard, they said, the ICT Cooperative Societies’ registrar has issued guidelines for the auditors and managing committees under the Cooperative Societies Act 1925, to make audit of cooperative societies mandatory through auditors declared credible by Institute of Chartered Accountants of Pakistan (ICAP).
The sources said that they will ensure to verify the veracity of financial transactions and business of a society being conducted according to cooperative principles and by-laws strictly followed.
In case the auditor is found guilty of conniving with the managing committee by concealing or tampering any information, he will be black listed and legal action will be initiated against him under intimation to ICAP.
Similarly, if the managing committee of societies failed to follow the guidelines, action against these societies will be taken under the said act wherein an imprisonment can be given to defaulter from six months to three years.
The cooperative department also introduced a number of reforms during last year following directions of Islamabad chief commissioner and official web portal of the department was launched, they said.
The sources said that online complaint system was also launched and societies were directed to upload audit voter list on their websites. Regular inspections have been started while training courses for the office bearers of societies are underway, the sources maintained.
