Audit report finds irregularities of Rs300 billion in Punjab Finance Department

ISLAMABAD: The government of Punjab’s financial record for the year 2015-16 show irregularities of around Rs300 billion, according to the Auditor General of Pakistan’s (AGP) audit report on the financial accounts of the Government of Punjab.

The report is titled “Audit report on the Accounts of Government of Punjab Audit Year 2016-17” but pertains to the fiscal year 2015-16.

According to the report, Rs287 billion worth of irregularities took place due to an inept budgetary/financial management. Out of the aforementioned amount, approximately Rs27bn were payments made in excess for the Lahore Orange Line Metro Project.

Rs63.71bn was unduly engaged in the development funds— receipts were short by a total of Rs35.29bn, whereas an amount of Rs5.07bn was unaccounted for due to a non-investment in General Provident Investment Fund.

The provincial treasurer bore a loss of Rs103.96bn due to “a weak financial management for issuance and utilisation of supplementary grants” according to the report.

Punjab government, according to the report, was also unable to collect Rs5.47bn in electricity charges from autonomous bodies.

“Funds to the tune of Rs8.66bn were directly released to the State Bank of Pakistan in 26 cases for further credit to different agencies…without routing them through Accountant General Punjab for pre-audit,” the report stated.