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116 audit paras cleared without PAC perusal - Newspaper

AFP/File ISLAMABAD: The Establishment Division with the support of audit and finance officials got cleared 116 out of 129 audit objections during meetings of the Departmental Audit Committee (DAC), hence leaving only 13 paras for perusal of the Public Accounts Committee (PAC). According to the documents available with Dawn, during an internal audit of the accounts of the Establishment Division for the year 2019-20, the auditors have raised 129 audit objections of multi-billion rupees irregularities in the financial affairs of the division. These audit paras related to unjustified pay and allowances to re-instate sacked employees, their posting to various departments, unauthorised grants of honorarium, irregular expenditure on entertainment, unauthorised payment of inadmissible allowance, unauthorised use of 1800cc cars, overpayment of additional charge, unauthorised payment of late sitting allowance, overpayment of deputation allowance, less deduction of income tax, irregu

Ending pacts with assets recovery firms: Company claimed $515m compensation but settled for $2 2m

National February 20, 2021 ISLAMABAD: A foreign assets recovery firm had claimed $515 million as compensation after the termination of its agreement but had settled on a much lower sum of $2 million after negotiations with the National Accountability Bureau (NAB). In its objections, the Auditor-General of Pakistan (AGP) held that against a claim of $515.6m, only $2.2m were paid and accepted by International Assets Recovery (IAR), indicating that the demand was not filed on a factual basis. Either the claim was exorbitant or there was some flaw in the agreement reached between IAR and NAB/the Pakistan government, documents show. An amount of $.15m was also paid to Broadsheet LLC, a firm different from the one headed by Kaveh Moussavi. President Dr Arif Alvi, on the recommendation of an official committee, had approved the payment of $3.7 million [$2.2m plus $1.5m] to Broadsheet LLC and IAR by NAB as compensation after the termination of the asset recovery agreement.

Ending pacts with assets recovery firms: Co claimed $515m compensation but settled for just $2 2 million

Ending pacts with assets recovery firms: Co claimed $515m compensation but settled for just $2 2 million
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

Ending pacts with assets recovery firms: Company claimed $515m compensation but settled for $2 2m

Ending pacts with assets recovery firms: Company claimed $515m compensation but settled for $2 2m
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

Ending pacts with assets recovery firms: Company claimed $515m compensation but settled for $2 2m

Ending pacts with assets recovery firms: Company claimed $515m compensation but settled for $2 2m
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.

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