Pakistan has suffered a loss of Rs 147 billion due to misappropriation in 144 procurement contracts, reported the 24NewsHD TV channel.
An audit report of the financial year 2022-23 released by the Auditor General of Pakistan has identified irregularities of multibillion rupees in the financial affairs of the federal government.
The auditor general's 2100-page report reveals several financial discrepancies and misappropriations of the ruling elite.
It states that the investment in the wrong sectors of the former government caused a loss of Rs 16.66 to the national exchequer.
The report disclosed that despite the instructions issued by the auditors to recover Rs 260 billion only Rs 32 billion was received owing to wrong planning of the previous government.
Similarly, the government could recover only Rs 5.60 billion in 26 cases because of the poor strategy.
The reports divulged that the national treasury suffered a loss of Rs 14 billion rupees due to the illegal practices of the employees. The procurement was made ignoring the rules and regulations. By this, the national treasury was inoculated to the tune of Rs 88 billion, the auditors said.
In three years, PIA also faced a loss of Rs 140 billion rupees. The national airline suffered a loss of Rs 56 billion in 2019, Rs 36 billion in 2020, and Rs 50 billion in 2021. By abandoning several flights of PIA, the company suffered a loss of Rs 19 billion. Pilots with fake degrees were also given millions of rupees.
Reporter: Kaleem Akhtar