The Senate Standing Committee on Finance was alarmed by cases of Rs 387 billion of fraud, embezzlement, theft and misuse of powers in public sector enterprises (PSEs) of various federal ministries exposed by Auditor General of Pakistan (AGP) in its audit report for 2016-17.
The committee meeting chaired by Senator Saleem Mandviwalla on Wednesday decided that in the first step, six PSEs including Pakistan International Airline (PIA), Sui Southern Gas Company (SSGC), SME Bank, State Life Insurance Corporation (SLIC) and others will be summoned.
The chairman of the committee stated, "We will have a separate meeting and will call those PSEs first where fraud and embezzlement is of over Rs 100 million." The members of the committee agreed and added that fraud and embezzlement, unlike irregularities, constituted a serious matter and the committee should take it up point by point.
The committee chairman asked the officials of AGP who were present in the meeting, "You have to be ready with homework as to what discussion will be held. We will let you know the date of the meeting." The AGP officials requested the committee to direct these organizations to hold a departmental accounts committee meeting with AGP before their meeting with the finance committee so that latest picture will be on the record during the meeting. The committee agreed to the AGP officials'' request.
The meeting was informed that theft or fraud of items from sub-store of Rs 0.593 million was detected in PIA. It was also informed about fraudulent purchase of vehicles of Rs 36.095 million despite a government ban by PNSC as well as irregular and unjustified payment amounting to Rs 18.885 million due to appointment of officials having fake degrees by PNSC.
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