Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Breaking News

Finance division rejects news reports on Audit Report 2019-20

byCT Report
29/06/2020
in Breaking News, Islamabad, Latest News, Slider News
Share on FacebookShare on Twitter

ISLAMABAD: The Ministry of Finance has refuted news reports appearing in a section of the press claiming that the first audit report of the present government reveals irregularities and corruption amounting to Rs270 billion by 40 government departments and ministries during FY 2018-19.

Describing these reports categorically as baseless, misinformed and erroneous, the Ministry of Finance in an official statement has said that the Audit Report for FY 2019-20, like all audit reports, consists of preliminary observations: it identifies some gaps in completing formalities while processing different cases by government entities and indicates various shortcomings in the provision of documents to the audit teams in certain other instances. But to conclude that each procedural deficiency is tantamount to corruption is incorrect and misleading.

You might also like

Peshawar Enforcement raises Rs2.9b from confiscated gold, silver & foreign currency in FY2025-26

19/06/2026

Petrol price cut by Rs74, diesel by Rs67 as PM announces relief package

19/06/2026

The Ministry of Finance would like to make it clear that by their very nature audit reports identify procedural deficiencies, and are not evidence of corruption – let alone ‘conclusive proof’ of corruption as certain sections of the media have attempted to portray. Furthermore, these audit reports are subsequently considered exhaustively at several forums, including by the departmental audit committees and the Public Accounts Committees, where ministries and other government institutions are given an opportunity to defend their cases and rectify the procedural shortcomings. Even these forums are not competent to establish whether or not corruption has been committed.

It must also be understood that on provision of the requisite documents – and occasionally completion of the requisite approval processes – the vast majority of audit paras are settled at these forums. Only in a few instances, where the deficiencies cannot be met, has punitive action been necessary.

Moreover, within the above-clarified context of the nature of audit reports, it is very important to note that the audit report of the incumbent government actually reflects vast improvement in governance. For instance, comparing earlier audit reports, as covered by the press in previous years, with the one in question reveals that while audit paras related to expenditures of only Rs. 270 billion in FY 2018-19, the Audit Reports of FY 2015-16, FY 2016-17 and FY 2017-18 presented audit paras on expenditures as huge as Rs. 3.2 trillion, Rs. 5.8 trillion and Rs 15.7 trillion respectively.

The Ministry of Finance, therefore, strongly rejects the misleading conclusions presented by certain sections of the press on the basis of the Audit Report for FY 2018-19.

Related Stories

Peshawar Enforcement raises Rs2.9b from confiscated gold, silver & foreign currency in FY2025-26

byCT Report
19/06/2026

PESHAWAR: Collectorate of Customs Enforcement realised Rs2.902 billion during the financial year 2025-26 through the disposal of confiscated gold, silver...

Petrol price cut by Rs74, diesel by Rs67 as PM announces relief package

byCT Report
19/06/2026

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Friday announced a major reduction in petroleum prices, saying the benefits of improved...

Pakistan, Iran eye $10b trade thru greater economic engagement

byCT Report
19/06/2026

ISLAMABAD: Pakistan and Iran have renewed their commitment to strengthening economic ties and increasing bilateral trade to $10 billion through...

SBP reserves rise slightly, Pakistan’s total forex holdings reach $22.742b

byCT Report
19/06/2026

KARACHI: Pakistan’s foreign exchange reserves remained broadly stable during the week ended June 12, 2026, with the State Bank of...

Next Post

Cut in import duty on raw materials must continue for economic uplift: Iftikhar Ali Malik

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.