Rs423bn lapsed in 2017-18 due to negligence, PAC told

Dawn | Feb 20, 2020 at 6:57 AM
  • The finance ministry on Wednesday informed the Public Accounts Committee (PAC) that Rs423 billion had lapsed during 2017-18 since the ministries concerned did not surrender the unspent amounts in a timely manner.
  • The development budget relates to the federal Public Sector Development Programme, development loans and grants to the provinces and other development expenditure.
  • The PAC finally ruled that the PEC might get its accounts audited by a chartered accountant firm but the audit report must be shared with the AGP for compliance on the audit paras.