Commercial audit of PSM for Fiscal year 2008-09, 2010-11: six corruption cases worth Rs 8.151 billion detected, Senate told

The Senate was informed on Wednesday that commercial audit report of Pakistan Steel Mills (PSM) for the years 2008-09 and 2010-11 had unearthed at least six cases of irregularities and corruption worth Rs 8.151 billion, but action was taken against one person.
Federal Minister for Production, Anwar Ali Cheema, through a written reply to a question, informed the Upper House that the PSM accounts for the year 2011-12 were under audit and report would be received on finalisation of the process. However, the auditor had given clear report on the accounts for the year 2007-2008, he added.
Details of corruption cases that surfaced in the audit report of the PSM during the last five years include: (a) at least four cases of miss-appropriation and irregularities, worth Rs 356.291 million in the year 2008-09 and only one person held guilty during the course of investigation,( b) Two case of misappropriation and irregularities, worth Rs 7.795 billion have been unearthed during the commercial audit of the PSM in the year 2009-10 interestingly no one was held responsible (c) one case of embezzlement and corruption , worth Rs 4.025 million was pointed out in the audit report of the PSM during the year 2010-11 and no one was held responsible.
About the forensic audit of PSM for the year 2009-10, Cheema stated that as many as 20 cases of irregularities and corruption surfaced during the audit. Meanwhile, Minister for Commerce Makhdoom Amin Fahim in a written reply to a question about value of export to and import from India between 2008-09 to 2011-12 in Pak rupee, stated that the Pakistan's export to India remained at Rs 30.297billion while import from India was worth Rs 134.738 billion during the year 2011-12. The year-wise break up of export to and import from India is as follows: the export to and import from India remained worth Rs 22.602 billion and Rs 149.047 billion, respectively during the year 2010-11, the value of export to India was Rs 22.489 billion and import from India Rs 102.872 billion during the year 2009-10. However, the value of export to India remained Rs 24.350 billion while imports from India were of Rs 93.471 billion during the year 2008-09.
To another question, Makhdoom Amin Fahim stated that Pakistan has exported goods, worth $6.8 million to China during the year 2007-08 and $2.2 billion during the year 2011-12, reflecting an increase of 219 percent. About the value of import from China during the aforementioned period, Faheem stated that Pakistan's import from china were $4.7 billion in 2007-08 which rose to $6.7 billion in the year 2011-12, registering an increase of 43 percent.