Non-existence of internal audit control: ETPB lost billions in flawed contracts with housing societies

ISLAMABAD: The audit officials of the Department of the Auditor General of Pakistan Thursday told the Subcommittee of the Public Accounts Committee (PAC) that a fraud of billions of rupees in the Evacuee Trust Property Board (ETPB) due to non-existence of internal audit control and 29 cases were being under investigation in the Federal Investigation Authority, National Accountability Bureau and also in the courts.The meeting of the PAC Subcommittee was held with the chair of its convener of Senator Sherry Rehman in which the audit para with regard to the Ministry of Religious Affairs and Inter-Faith Harmony and Evacuee Trust Property Board for the year 2015-16 were examined. It was also told the committee that the fraud of billions of rupees was committed through forming the shell companies for the investment purposes and even the land exchange agreement was made in LDA, DHA and Multan Development Authority. Even the Secretary of Ministry of Religious Affairs and Inter-Faith harmony told the committee that it was not possible to defend the audit objections. Convener of the Sub-committee of the PAC Senator Sherry Rehman asked from the progress report on the ongoing investigation in the FIA on which the FIA failed to give satisfactory response so the committee summoned the Director General FIA in its next meeting for the detailed briefing on the cases.It was also told the PAC Subcommittee that Evacuee Trust Property Board suffered a loss of billions through flawed contracts with M/s Elysium Holdings Pakistan Ltd, Highland Living Concept and Defence Housing Society. During the meeting, the audit officials complained that the corruption cases of billions of rupees were under investigation in the FIA and NAB but in slow phase. While examining, the Audit officials told the Subcommittee that there is 41 land of the ETPB on lease in Nankana Sahib but did not yet collected any rent from the leacee.The Audit officials told the Subcommittee that the ETPB has entered into agreement for the sale any buy of Allotment Certificate with M/s Elysium Holdings Pakistan Ltd, Highland Living Concept and DHA but these companies did not give the share of 3 billion profit to ETPB and this matter is under investigation in the NAB.ETPB Chairman Dr Aamer Ahmed invited the committee for the visit to Kartarpur which has been accepted by Senator Mushahid Hussain Sayed.The ETPB chairman told the Subcommittee that currently 120 departmental inquiries were undergoing, 25 employees were dismissed and 3 officers were also dismissed from the service on the charges of corruption of billions of rupees.

from The News International - National https://ift.tt/2OT0NCn