+- Pakistan Real Estate Times - Pakistan Property News (https://www.pakrealestatetimes.com)
+-- Forum: Pakistan Real Estate / Property News (/forumdisplay.php?fid=1)
+--- Forum: Latest Pakistan Property & Economic News (/forumdisplay.php?fid=4)
+--- Thread: PAC demands audit of intelligence agencies’ secret funds (/showthread.php?tid=11736)
PAC demands audit of intelligence agencies’ secret funds - Lahore_Real_Estate - 09-21-2010 11:47 AM
* Expresses concern over losses accumulated by PCP, financial lapses in telecom sector
By Zeeshan Javaid
ISLAMABAD: The National Assembly’s Public Accounts Committee (PAC) on Monday demanded audit of secret funds of intelligence agencies, remarking that the secretive organisations were more interested in political manoeuvering than safeguarding national interests.
The committee, which met under the chairmanship of opposition leader in the National Assembly Chaudhry Nisar Ali Khan, took serious notice of Rs 400 million that the Intelligence Bureau (IB) availed as supplementary grant in fiscal year (FY) 2007-08 and asked Director General Javaid Noor to present his agency’s financial records to audit officials.
Nisar emphasised parliament was supreme and all public departments, including security agencies, were answerable to PAC on use of public money. Noting that intelligence agencies were involved in political manoeuvering, he asked them to focus on national security.
The director IB, who appeared before the committee, said intelligence agencies had been playing a vital role in protection of national security interests and should not indulge in political manoeuvering. He said his agency was willing to disclose its spending to PAC, but said the briefing should take place in an in-camera meeting because the details were of sensitive nature and could not be made public.
PAC also expressed serious concern over the performance of Printing Corporation of Pakistan (PCP). Audit officials informed the committee that PCP earned a net profit of only Rs 34 million during the FY 2007-08 compared to a loss of Rs 155 million in FY 2006-07. The officials said PCP had continuously been running in loss and had accumulated losses of Rs 1.374 billion in FY 2008-09, up from Rs 1.124 billion in FY 2007-08. The cabinet division secretary informed the committee that a summary for privatisation of the corporation had been submitted to the Cabinet Division and was pending approval by Prime Minister Yousaf Raza Gilani.
The committee also took notice of financial irregularities and embezzlement in the telecom sector during FY 2008-09. It was informed that Rs 2.3 billion had been plundered by telecom officials. Illegal appointments and promotions in the sector also came under discussion. The committee directed the Pakistan Telecom Authority (PTA) chairman to recover the embezzled money as soon as possible.
Audit officials informed the committee that PTA had a Rs 702 million surplus in FY 2007-08 but did not deposit the required amount in the Federal Consolidated Fund. The committee demanded a special audit of the assets of former chairman of the body and said his name be included in the Exit Control List.