The Public Accounts Committee (PAC) has ruled that the Auditor General of Pakistan (AGP) can audit the National Bank of Pakistan (NBP). APP/File
ISLAMABAD: The Public Accounts Committee (PAC) has ruled that the Auditor General of Pakistan (AGP) can audit the National Bank of Pakistan (NBP) as the latter has not given the former access to its financial record since 2012.
The AGP had been conducting the bank’s audit for decades, but the NBP management in 2012 went to the Sindh High Court (SHC) and later barred the AGP from conducting audit of its accounts.
Altaf Ahmed Sheikh, director general (commercial audit), informed the PAC that the SHC had not issued any stay order as such. He read out the court order which stated: “No adverse action shall be taken against the bank.”