Latest news with #Rs3.42
Express Tribune
4 days ago
- Business
- Express Tribune
PAC orders audit of Rs2b monthly allocations to UCs
The Public Accounts Committee (PAC) of the Sindh Assembly has ordered a comprehensive audit of the Rs2billion monthly budget allocated to union councils (UCs) across the province, citing concerns over financial irregularities and lack of oversight. In a formal letter to the auditor general of Pakistan, the PAC expressed concern that the substantial funds distributed to 1,600 UCs across Sindh are not being properly audited. The committee noted that while the Sindh government disburses Rs2billion monthly to these local bodies, there is no ongoing scrutiny of how the funds are being spent. According to the letter, only the UCs in Karachi Division were audited by the Directorate General (DG) Audit between 2018 and 2019. The financial activities of UCs in other districts of Sindh remain unaudited, raising serious accountability concerns. In response, the PAC has urged the AGP to instruct the relevant DG Audit offices to conduct a three-year audit of the budgets and expenditures of UCs throughout Sindh. Meanwhile, the PAC reported huge recoveries from various government departments in Sindh, totaling over Rs16.22billion to date. The latest recovery of Rs3.42 billion includes, Rs1.87billion deposited by DG Audit Local Government from recoveries made between September 2024 and April 2025. It also has Rs782.72million collected by DG Audit Sindh between July 2024 and April 2025 and Rs772.18million recovered by DG Audit Works during the same Rs12.59billion was recovered in outstanding water charges from various federal and provincial institutions on behalf of the Karachi Water and Sewerage Board. These amounts have all been deposited into the government treasury. PAC Chairman Nisar Khuhro stated that the PAC held 97 meetings between July 2024 and May 2025. During this period, the committee reviewed 1,383 audit paras from various departments, settling 325 of them. The remaining 1,058 paras were deferred for further consideration. Khuhro stressed that the recovery and deposit of over Rs16billion into the government treasury reflect the PAC's unwavering commitment to financial accountability and transparency. He affirmed that the PAC will continue its efforts to recover public funds and ensure fiscal discipline across all government departments.
Express Tribune
17-05-2025
- Business
- Express Tribune
Over 6,700 women launch businesses
Loans worth Rs23.91 billion have been given to start 57,913 new businesses in Punjab during the past three months. Chairing a meeting for a briefing on Easy Business Finance and Card schemes, Chief Minister Maryam Nawaz Sharif said 6,753 women had obtained loans worth Rs3.42 billion to run their own businesses. She directed the authorities concerned to complete the processing of pending applications for the loans as early as possible. She directed the authorities to make arrangements to activate the Easy Business Card through WhatsApp as well. The chief minister also sought a plan for export and manufacturing sector loans. She said, "The Easy Business Finance and Easy Business Card programmes should not be stopped under any circumstances." Punjab Small Industries Corporation (PSIC) Managing Director Sara Umar informed the CM that 3,010 citizens had obtained loans worth Rs18 billion under Chief Minister Easy Business Finance Scheme and 104,000 had acquired loans worth Rs43 billion under the Chief Minister Easy Business Card Scheme. The MD added, "Out of 74,579 applications for Chief Minister Easy Business Finance, 2,505 have been approved and loans have been received by the applicants; whereas out of 12,029 applications for Chief Minister Easy Business Finance Tier II, 505 have been approved and loans released. Out of over 1.38 million applications for Chief Minister Easy Business Card Scheme, 104,133 have been approved." The chief minister was informed that 1,312 applicants had got loans worth Rs3.91 billion for the transportation business, whereas 175 people had received Rs3.94 billion for distribution businesses. "There is a trend of getting loans for professional services, agriculture, dairy, food, beautification, auto, fertiliser, pesticide and other businesses. The largest number of people are providing services through the Aasan Karobar Card under which 61,996 applicants took loans worth Rs26.13 billion and 24,522 people received loans worth Rs10.75 billion for trading and 10,699 people received Rs3.69 billion for small agri-businesses," the CM was informed.
