Investigation of Rs 480 Billion Circular Debt Payment

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Dr Arif Alvi has written a letter to Chairman of Public Account Committee to start a detailed investigation of payment of Rs 480 Billion Circular Debt by PMLN Government that led to losses of Billions of Rupees. Details of of the excess, irregular and illegal payments were also attached to the letter.


 

30th December 2015 

Mr Khursheed Shah MNA,
Chairman Public Accounts Committee
National Assembly of Pakistan,

 

Dear Shah Sahib,

From details that have emerged, some of which have been made available to me through the Public Accounts Committee and some from other sources, I would like to highlight major irregularities in the payments that were made in the clearance of Rs.480 billion circular debt by the Federal Government of Pakistan on 28th June, 2013.

There were major lapses in the procedure adopted and it is obvious that the matter was handled with criminal negligence by the authorities as there were no internal controls or checks in place for this disbursement.

I am convinced that the process resulted in major loss to the national exchequer.

In the attached document I have highlighted the alarming failures and would like to request that this letter and its details may be put on the agenda urgently.  The Ministry of Finance and other relevant ministries may be asked to appear and to explain the reasons for this failure in following due process.  I would also like to know whether any efforts have been made to recover excess, irregular, illegal or avoidable payments that were made. 

Yours sincerely,

Dr Arif Alvi MNA
Member Public Accounts Committee
National Assembly


Details of the allegations can be seen here:


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