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The Public Accounts Committee (PAC) has expressed dissatisfaction with the system of foreign loan repayments and interest payments. During a recent meeting, PAC Chairman Junaid Akbar voiced his frustration over the absence of the Finance Secretary, directing him to attend the next session following negotiations with the IMF delegation.
The committee called for a detailed briefing on foreign loan statistics and criticized the Ministry of Economic Affairs for its inaccurate predictions regarding dollar fluctuations. Under Junaid Akbar’s leadership, members expressed their concerns about the repayment structure of foreign loans and the existing interest payment system.
During the meeting, Umar Ayub highlighted that a loan amounting to Rs 58 billion had been rescheduled and stressed that it must be repaid at all costs. Recognizing the gravity of the matter, Chairman Junaid Akbar demanded the presence of both the Ministry of Finance and the Ministry of Planning and Development in the upcoming meeting.
The committee also addressed the issue of awarding bonuses worth Rs 52 million to officials of the Ministry of Economic Affairs. Additionally, strong objections were raised over audit irregularities within the Ministry of Foreign Affairs.
One of the key concerns brought up during the meeting was the financial loss of Rs 181 million incurred due to the failure to construct an embassy building in Kathmandu. Audit officials revealed that approval for the building had been granted in 2008, but the project was never completed due to a lack of funding.
Another significant issue discussed was the failure of the Pakistani embassy in Berlin to deposit receipts amounting to Rs 97 million into the national treasury. In response, Foreign Office officials admitted their mistake and assured the committee that such lapses would not occur in the future.
Further revelations during the session exposed illegal salary payments totaling Rs 49 million in London and Paris. In light of this, the PAC chairman directed the Ministry of Finance to resolve the matter within 15 days.
Concerns were also raised over double payments made to officials in the Ministry of Foreign Affairs. Audit reports indicated that over 5 million rupees had been unnecessarily transferred to various officials. Committee members expressed strong disapproval, emphasizing that officials should have been aware they were receiving dual salaries. As a result, Chairman Junaid Akbar instructed that appropriate action be taken within a month to address the issue.
The meeting underscored the committee’s commitment to ensuring transparency and accountability in financial matters, reinforcing the need for stringent oversight and corrective measures within government institutions.
