PAC sub-body directs SBP to provide record of Rs3.5 b

ISLAMABAD, Oct 04 (APP):A subcommittee of Public Accounts Committee (PAC) Friday directed State Bank of Pakistan (SBP) to provide record of Rs3.5 billion disbursement as subsidy to the textile sector.
The audit officials informed the committee headed by Senator Shibli Faraz that it is the duty of all every department to present all the record or information required by the audit debarment for preparation of their reports.

The officials said during the audit of Ministry of Finance, the request was made to provide details of the paid amount of Rs3.5 billion by the SBP as subsidy to the textile sector. But, he said, the record was not provided which is considered to be a violation of rules and limiting the scope of auditor and the process of accountability and transparency.

In response to the audits observation, the officials of the ministry replied that they do not have any record pertaining to the ministry of textile and industries.