Apropos a news item regarding an Auditor General of Pakistan report about TCP, carried by Business Recorder on October 8, the Trading Corporation of Pakistan (TCP) has clarified that the news item is not based on full facts. The facts of the case are as under:
"This is a normal routine in Government Departments/Public Sector Corporations that government auditors after conduction annual audit prepare audit paras based on their observations and submit those audit paras to concerned departments/corporations for replies/explanations.
In such audit paras, government auditors assess presumptive loss (which is not actual loss) but after seeking explanation from the concerned department and after detailed discussions, most of the audit paras are normally dropped. This is a normal routine procedure of government audit in public sector organisations.
The said report mentioned in the news item contain audit observations of commercial audit department to which TCP has already given its detailed para wise reply/clarification of factual position. This report vis-à-vis TCP replies/explanations is yet to be discussed in the Departmental Account Committee (DAC). Thereafter the audit report shall be finalised in the right of the minutes of the DAC meeting."
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