Auditor General: Financial Irregularities Worth Rs.6.98 TRILLION (1st yr alone)

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Auditor General: Financial Irregularities Worth Rs.6.98 TRILLION (1st yr alone)

(27 posts)

nota
Member

Remember this comes from the government itself:

"Islamabad: Pakistan's auditor general has exposed the claims of good governance and better fiscal policies of the government by unearthing widespread financial irregularities of a whopping Rs.6.98 trillion in 2008-09, the first fiscal year of the ruling coalition."
http://sify.com/news/pakistan-unearths-graft-of-rs-6-98-trillion-news-international-kfevuejgajb.html

(Interesting also that most papers are kind of covering it up. Dawn for example tries to trick by giving it a headline that is much milder:
Auditor General’s office detects Rs323bn bungling
http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/front-page/rs323bn-bungling-detected-450

and although it lists the bungling by different entities, it never gives us the total)

Posted 2 years ago on 06 May 2010 3:46 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

Wow!. Pakistan is this rich/poor ? I don't!!! believe it.

Pakistan is far! more! rich than this, MASHALLAH.

Posted 2 years ago on 06 May 2010 5:39 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

Posted 2 years ago on 06 May 2010 5:53 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

As per DAWN's news article, Rs. 323 billion worth of irregularities were detected.

Irregularities in the accounts of the following;

(1) FBR (Federal Board of Revenue): Rs. 116.341 billion
(2) Ministry of Water and Power: Rs. 111.174 billion
(3) Ministry of Petroleum and Natural Resources: Rs. 17.239 billion
(4) Pakistan Railways: Rs. 15.677 billion
(5) TCP (Trading Corporation of Pakistan): Rs. 7.84 billion
(6) Telecommunication sector: Rs. 3.844 billion
(7) Sui Southern Gas Company Limited: Rs. 2.95 billion
(8) Employees Old-age Benefit Institute: Rs. 1.08 billion

Sub Total: Rs. 276.145 billion.

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Following are the departments, corporations and ministries where the audit reports have detected irregularities worth over Rs100 million:

(1) Pakistan Baitul Maal: Rs. 941 million
(2) Port Qasim Authority: Rs. 762 million
(3) Pakistan State Oil: Rs. 650 million
(4) Ministry of Foreign Affairs: Rs. 574 million
(5) Pakistan Ordnance Factories: Rs. 529 million
(6) Pakistan Re-Insurance Company Limited:Rs. 506.36 million
(7) Pakistan Agricultural Storage and Services Corporation Limited: Rs. 463 million
(8) Pakistan Television Corporation: Rs. 421 million
(9) Pakistan International Airlines: Rs. 347 million
(10) National Fertilizer Marketing Limited: Rs. 248 million
(11) Utility Stores Corporation: Rs. 247 million
(12) Oil and Gas Development Company Limited: Rs. 242 million
(13) Zakat and Ushr (Rs234m); Pakistan Broadcasting Corporation: Rs. 150 million
(14) National Logistic Cell (Rs115m) and Export Processing Zones Authority: Rs. 104 million

Sub Total: Rs. 6184.36 million.

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--> .. Rs. 276.145 billion
--> + Rs. 6184.36 million
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Total = Rs. 282.329 billion
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The amount of Rs. 282.329 billion doesn't match the title of the news article on DAWN News, which says Rs. 323 billion worth of irregularities are present.

This much has been embezzled from Pakistan, more! importantly from people of Pakistan.

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I believe these figures are far! smaller than reality. Why ? Because;

(1) I saw former NAB chairman saying in talk show, there's corruption of Rs. 90 billion in PSO or Ministry of Petroleum each! year!

(2) Corruption has been going on for decades!, since Pakistan was created

Saying that only Rs. 15, 16 or 117 billion corruption occurred in the last 60+ years doesn't make sense. Those billions of Rupees are less than one year's budget for these ministries, state institutions, etc etc.

Posted 2 years ago on 06 May 2010 7:08 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

When I sum up the above, I reach around a total of Rs. 282.329 + billion.

Where is the rest of the money, the Rs. 6.8 trillion of Pakistan, more! importantly -> of people of Pakistan ?

A big amount of money as well as details of it still remain to be brought out in public domain.

Posted 2 years ago on 06 May 2010 7:43 #
skunkk
Member

It is a shame that not only yellow journalism is being done in this country so blatantly but people who apparently are well educated are exploiting it.

Rs 6.98 Trillion = Rs 6980 Billion = 4 times the budget of 2008-2009 = USD 6980 Billion / 80 = 75 Billion Dollars or 50% of the GDP.

Dawn's report seems to be accurate but Mr Nota's aims only to spread dissatisfaction and hopelessness, even if he needs to lie for that.

Posted 2 years ago on 06 May 2010 11:14 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@skunk: There's no yellow journalism here. 'nota' hasn't done anything wrong as well.

What's your point ?

P.S. Perhaps I could demonstrate a similar affect, by;

(1) ripping you off of ALL! that you earned ALL through you life and then ask of you to remain calm

(2) force you into slave labour for decades, with less and less benefits, and make you pay taxes, which I'll pocket, rather than spending on you

Is that acceptable for you, especially over a 60+ year period ?

Posted 2 years ago on 06 May 2010 11:55 #
skunkk
Member

There is no yellow journalism here? You post full scale lies and then try to justify it! The article in question makes a blatant statement which is obviously false as 75 billion dollars is half the nations GDP. My point is that you can criticize all you want but change your opinion if there is a dearth of facts rather than start lying.

Posted 2 years ago on 06 May 2010 19:50 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@skunk: Your point about half the GDP is invalid.

Stop making idle statements. Start putting up facts.

Posted 2 years ago on 06 May 2010 19:58 #
skunkk
Member

Haris Khan:

Pakistan's Estimated GDP 2009=168.5 Billion
Figure in question=75 Billion Dollars

75/168.5= 44%

Since you are paranoid, here are some reference sites for you to corroborate the figure.

https://www.cia.gov/library/publications/the-world-factbook/geos/pk.html

http://www.statpak.gov.pk/depts/fbs/statistics/national_accounts/table4.pdf

Posted 2 years ago on 06 May 2010 20:21 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@skunk: I didn't ask for re-calculation of this figure in relation to Pakistan's GDP.

I asked for facts, for reasoning on your words.

Posted 2 years ago on 06 May 2010 20:28 #
skunkk
Member

I'm not being sarcastic but sincere, are you insane?

This is what you wrote haris,

''Your point about half the GDP is invalid.

Stop making idle statements. Start putting up facts. ''

I think I just proved to you how my point of half the GDP is VALID. Why am I even bothering with a bunch of liars!

Posted 2 years ago on 06 May 2010 20:40 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@skunk: Your words are not! making any sense. I'll ask once again;

What do you mean to show everyone by relating the amount embezzled from Pakistan (or people of Pakistan) to GDP of Pakistan ?

What's your point ?

Posted 2 years ago on 06 May 2010 20:43 #
skunkk
Member

My point is that it is not possible for government to embezzle such amount because Pakistan being a capitalist economy does not have such major chunk of assets under government possession. All but a few banks, industries and even agricultural land is owned by the private sector. There is a fine line between what you want to do and what you can do, even the most corrupt government cannot reach that figure because they do not have access to that amount. Pakistan's tax to GDP ratio has never crossed 10% so even if the government takes it all away, it would still be around 1500 Billion. The fact that it is impossible to take even 50% of that is another matter.

ps: There is a very positive side to the news item in Dawn, it is only because its democracy that Dawn was able to publish the irregularities. Had it been a military regime it wouldn't have dared and you would not have been able to discuss it. This itself is the beauty of democracy.

Posted 2 years ago on 06 May 2010 21:19 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

I'v understood this bit of your logic and rejected it as invalid.

Your logic ignores a lot of factors, including 'time'.

It was in Talat's show where Shaukat Tareen openly mentioned, that there's Rs. 1.3 trillion worth of embezzlment of tax money each year, and that this needs to be stopped.

Posted 2 years ago on 06 May 2010 21:28 #
LiberalKarachi
Member

It can't possibly be Rs.6.98 trillion! That's simply too much money. The developmental budget is around half a trillion.

Posted 2 years ago on 06 May 2010 22:01 #
skunkk
Member

My bad, I over estimated your intelligence haris:

Shaukat Tareen was talking about tax evasion i.e. people who should pay tax and are not paying taxes. You are talking about the money that government takes and steels.

Also, in the list of tax evaders it is the business community that is the biggest evader, yes the same one who doesn't like politicians and worship army, thinks of democracy as a farce.

Posted 2 years ago on 06 May 2010 22:18 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@LiberalKarachi: Do you know Pakistan's internal debt is also around Rs. 7+ trillion ?

@skunk: Shukat Tareen was talking about tax money that is collected and then silently pocketed by those in power.

That is Rs. 1.3 trillion every! year!.

Posted 2 years ago on 06 May 2010 22:23 #
LiberalKarachi
Member

@hariskhan,

I have no problem in believing that the debt can be around Rs 7 trillion. Debt takes a big chuck out of a country's GDP, Pakistan's spending on debt is around 56% of GDP. But I have a huge problem in thinking there can be corruption of around RS. 7 trillion!

Rs323bn sounds like a more conceivable number.

Posted 2 years ago on 06 May 2010 22:31 #
skunkk
Member

You are practically putting words in Shaukat Tareen's mouth. Pakistan's tax target for this year was 1.7 Trillion + 560 Billion of non-tax revenue making it 2.2 trillion, of this you give 690 Billion as interest payments, so if what you said is correct then the government was running on 200 Billion rupees. Remarkable feat I must say, because 200 Billion ka matlab hai ke all employees of government, army and other organs of the state received no salaries, retired folk did not get their pensions etc!

Posted 2 years ago on 06 May 2010 22:41 #
hariskhan
member

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@LiberalKarachi: Perhaps your right. Perhaps not. I believe your not.

You think Rs. 323 billion is of any significance when compared to the time for which corruption has been going on in this country ?

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@skunk: Go and watch that program again and again.

Don't you see the poor state of affairs in Pakistan ? When would that circumstance come about ? -> When money would be pocketed, rather than spent where it should be.

Posted 2 years ago on 07 May 2010 7:13 #
skunkk
Member

@ Haris: I pity you bro, you apparently have no inkling of economics and finance. Do us all a favour and read the summary of the budget this year.

Send me the link to program, I'm sure it was either a slip of tongue that you failed to get or tax evasion that he meant. I never watch Talat due to lack of unbiased analysis and uni-direction that dominates his show.

Posted 2 years ago on 07 May 2010 10:32 #
Anti Pakistan
Member

It's better for u all too watch PTV at home,

U don't know something about Auditing, They are Aliens,

Posted 2 years ago on 07 May 2010 10:40 #
skunkk
Member

Psycho: Being one myself I can only thanku for not making Auditors Zionist agents which is your ardent passion.

Posted 2 years ago on 07 May 2010 10:46 #
Anti Pakistan
Member

skunk

Auditors and banks are the tools of democracy to eat the property of poor.

and democracy is the tool to stop the khilafa of muslim in the hand of jews

and zionist is the tool in the hand of jews.

Posted 2 years ago on 07 May 2010 10:54 #
toamin
member

there is difference between auditor and banker
right now they are auditing based on capitalist processes but if you change the rules to islamic transactions then same auditors would be reconciling based on islamic rules... they are just munshies...

Posted 2 years ago on 07 May 2010 11:11 #
Anti Pakistan
Member

salam

the rules are not changed and auditor is doing the same thing

if rules will changed wait for my statement

Posted 2 years ago on 07 May 2010 11:13 #