Probe into 30.8 trillion debt: ISI, MI representatives included in commission

The Federal Cabinet has included one representative from the Military Intelligence (MI) in the ten-member 'public funds usage' probe Commission, as well as one representative from ISI, headed by Hussein Asghar, a retired Police Officer.
Official sources told Business Recorder that the Ministry of Finance informed the Cabinet that it had been observed that since 2008 there had been a phenomenal increase in the public debt and liabilities from Rs 6,690 billion to Rs 30,846 billion till September, 2018. This needs to be explained vis-à-vis quantum of infrastructure and public sector development projects that have been undertaken from 2008 to 2018.
It was briefed that under article 166 of the Constitution, there is a limit to the extent to which the Federation can undertake borrowing. In pursuance of Article 166, the Fiscal Responsibility and Debt Limitation Act, 205 had been enacted. Under the constitutional and legal provisions, there is prescribed cap on borrowing. The priority of the matter, therefore, seriously warrants that there should be a comprehensive enquiry and investigation in this respect.
On June 18, 2019 the cabinet was informed that there is serious apprehension that there are numerous instances where public funds have been expended so as to meet personal expenditure of public office holders, their spouses, children and persons connected to them. These expenditures appear to have been made under the garb of expenditures towards public duty but in the essence these have been incurred to meet private and personal expenditure. The matter requires inquiry, investigation and probe.
For this purpose, therefore, Finance Division proposed the constitution of a high powered Commission of inquiry under the Pakistan Commission of Inquiry Act, 2017.
For this chairmanship of the Commission, Finance Ministry proposed a panel of three names i.e. Shoaib Sudddle (retired PSP BS-22 officer), Hussain Asghar (retired PSP BS-22 officer) currently Deputy Chairman National Accountability Bureau (NAB) and Justice Tassaduq Hussein Jilani (former Chief Justice of Pakistan).
The Commission of Inquiry was proposed to comprise officers from the Ministries/ Divisions/ Departments/ Agencies as follows: (i) representative of NAB; (ii) representative of FIA; (iii) representative of the Intelligence Bureau (IB); (iv) representative of ISI; (v) representative of SBP; (vii) representative of SECP; (vii) representative of FBR; (viii) representative of Auditor General of Pakistan; (ix) representative of AGPR; and (x) Special Secretary, Finance Division as Member/Secretary.
The Commission has been further empowered to co-opt/ engage any person from the public and private sector, locally and abroad as a member, Consultant or Advisor for the assistance of the Commission.
The Terms of Reference (ToR) of the Commission of Inquiry will be as follows ;(i) determination of significance of major infrastructure or public sector development works conducted from the years 2008 to 2018 and commensurate with the increase in public debt from Rs 6,690 billion in 2008 to Rs 30,846 billion till September, 2018; (ii) to inquire/ investigate about the award or implementation of any contract / agreement or project and whether any debt was taken for a particular project/ undertaking and was then spent/ expended on the corresponding project/ undertaking, or otherwise; (iii) whether the terms and conditions of any public contract were tainted or benevolent of artificially inflated to facilitate any kick-backs ? If so, in whose favour; (iv) whether any holders of public office or their spouses, children and any persons connected to them expended any public funds so as to meet personal or private expenditures, beyond what has been permitted under the law and rules; (v) whether the cap prescribed under the Fiscal Responsibility and Debt Limitation Act, 2005 has been busted? If so reasons, justification thereof?; (vi) whether the amendments, if any, in the 2005 Act were in keeping with the spirit of Article 166 of the Constitution, or, otherwise; (vii) forensic and special audits be conducted through any reputed international or local auditor or set of auditors in order to determine the real nature, scope, volume, cost and trail of the investments or expenditures of the federal government ( or any part thereof) from February 2008 to September; and (viii) to fix responsibility and to refer any irregularity or illegality found for investigation and prosecution to relevant agency/ department.
It was observed that the outstanding public debt in 2008 was 6,690 billion, while in September, 2018 the public debt soared to Rs 30,846 billion, which implies that the public debt had multiplied phenomenally. The public was put into an economic travail and subjected to a grave financial jeopardy in the ten years from 2008-2018 without any visible public infrastructure projects such as dams, and other development projects.
It was further briefed that it is of the gravest public importance of a definite nature to inquire, investigate and determine as to where the public funds were utilized from 2008 to 2018 and why the public debt has increased to Rs 30, 846 billion. It is imperative to probe if these funds were in anyway misappropriated, siphoned off and the people are defrauded and brought under heavy debt obligations.
The Commission will give its final report within six months of its formation, with periodical interim reports on monthly basis. The time-limit, however, maybe extended with the prior approval of the Prime Minister.
Finance Division also proposed that an appropriate budget should be sanctioned which the Commission will be entitled to utilize and spend in its discretion so as to meet the expenditure of the Commission.