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Audit Report Highlights Rs 848 Billion Pending Receivable of Power Sector

An audit of Pakistan’s power sector has highlighted a recovery of only Rs 1.63 billion effective from January to December 2021. The recovery of more than Rs 848 billion was highlighted in an earlier version of this article, which stated that the recovery of power sector receivables was Rs. 642.9 billion.

The total budget/expenditure and the receipt of 151 formations were Rs. 651 billion and Rs. 1,085 billion respectively for FY20–21. The audit coverage relating to price for the current audit year comprises 60 formations of the Ministry of Energy.

A close review of the internal controls helped identify the weaknesses and ineffectiveness of these controls in different field activities. For example, the report detailed that the field staff was not making a timely account of material.

The annual report of the Audit and Auditing Committee (AAG) of the Authority for General Public Services (AGP) has criticized the use of foreign loans in the power sector.

Based on the audit’s assertion regarding the unsatisfactory utilization of loans, the companies’ boards of directors were advised to address the existing inefficiencies, improve planning and supervision, and ensure the efficient utilization of donor-funded initiatives.

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