ISLAMABAD: The poor internal audit system of the National Engineering Services of Pakistan (Nespak) has been discussed by the Public Account Committee (PAC) at Parliament House under the chairmanship of Opposition Leader in National Assembly Syed Khurshid Shah.
The Auditor General of Pakistan (AGP) has revealed before the PAC that Nespak had submitted only Rs3 million to government out of Rs833 million profits due to its poor internal audit system. The AGP officials further disclosed that the company’s audit of year 2013-14 and Rs2.7 billion could not be recovered due to the poor audit infrastructure.
It was also revealed that Nespak had hired a house on rent without the approval of Prime Minister Nawaz Sharif, which caused Rs4.7 million loss to the national exchequer.
AGP also revealed that Nespak paid Rs200 million to different car rentals and paid Rs3.4 million illegally.
Nespak Managing Director told the committee that NESPAK had hired the vehicles for the visits of more than 250 sites of ERRA project and the company has already constituted an inquiry committee on the issue of illegal payment.
