SECP Officials Paid Rs90 Million in Final Settlements Despite Senate Committee Instructions
Outgoing SECP chairman and two commissioners reportedly received Rs90 million in final settlements despite Senate Standing Committee instructions to withhold payments pending PAC review.
Audit Exposes Rs10.2 Billion Irregularities and Governance Failures in Zarai Taraqiati Bank Limited
The Auditor General of Pakistan has uncovered Rs10.2 billion in financial irregularities, loan defaults, and governance failures at Zarai Taraqiati Bank Limited (ZTBL). The report reveals weak oversight, unverified loan disbursements, and arbitrary write-offs, urging a high-level inquiry to restore transparency and accountability in the state-run agricultural bank.
PIA Audit Uncovers Rs9.43 Billion Losses from Free and Discounted Ticketing
An audit by the Auditor General of Pakistan has revealed that Pakistan International Airlines incurred Rs9.43 billion in losses between 2011 and 2016 through the issuance of free and heavily discounted tickets, many granted to individuals with no official ties to the airline.
New Auditor General Faces Fallout from Pakistan’s ‘Most Expensive Typo’ in Audit Report
Pakistan’s newly appointed Auditor General, Maqbool Ahmed Gondal, inherits the controversy over an audit report that mistakenly cited Rs376 trillion in irregularities due to a typographical error, sparking criticism and raising questions over auditing practices.
Pakistan Updates Public Finance Management Act 2019 to Strengthen Fiscal Transparency
The federal government has updated the Public Finance Management Act, 2019 with amendments up to June 2024, expanding fiscal responsibility, enhancing oversight of public funds, and strengthening transparency to align Pakistan’s financial framework with global best practices.