ISLAMABAD - The commercial audit report of Pakistan Steel Mills (PSM) for the years 2008-09 and 2010-11 has unearthed at least six cases of irregularities and corruption worth Rs 8.151 billion, however the action was taken only against one person, the Senate was informed on Wednesday.
Federal Minister for Production, Anwar Ali Cheema in a written reply to a question, informed the Upper House that the PSM accounts for the year 2011-12 are under audit and report will be received on finalisation of audit. However, the auditor had given clear report on the accounts for the year 2007-2008, he added.
Details of corruption cases that surfaced in the audit report of the PSM during the last five years include: (a) at least four cases of miss-appropriation and irregularities, worth Rs 356.291 million in the year 2008-09 and only one person held guilty during the course of investigation, (b) two cases of misappropriation and irregularities, worth Rs7.795 billion have been unearthed during the commercial audit of the PSM in the year 2009-10 interestingly no one was held responsible (c) one case of embezzlement and corruption , worth Rs4.025 million was pointed out in the audit report of the PSM during the year 2010-11 and no one was held responsible.
About the forensic accounting of PSM for the year 2009-10, Cheema stated that as many as 20 cases of irregularities and corruption surfaced during the audit.
Meanwhile, Minister for Commerce Makhdoom Amin Fahim in his written reply to a question about value of export to and import from India between 2008-09 to 2011-12 stated that the Pakistan’s export to India remained at Rs 30.297 billion while Import from India was worth Rs 134.738 billion during the year 2011-12.
The year-wise break up of export to and import from India is as follows: the export to and import from India remained worth Rs 22.602 billion and Rs 149.047 billion respectively during the year 2010-11.
The value of export to India was Rs 22.489 billion and import from India Rs102.872 billion during the year 2009-10. However, the value of export to India remained Rs24.350 billion while imports from India were of Rs 93.471 billion during the year 2008-09.
To another question, Makhdoom Amin Fahim stated that Pakistan has exported goods, worth US$ 6.8 million to China during the year 2007-08 and US $ 2.2 billion during the year 2011-12, reflecting an increase of 219 per cent.
About the value of import from China during the aforementioned period, Faheem stated that Pakistan’s import from china were $4.7 billion in 2007-08 which rose to $6.7 billion in the year 2011-12, registering an increase of 43 percent.
Various items worth Rs 480.128 billion have been imported from India during the last four years (2008-09 to 2011-12), Minister for Commerce Makhdoom Amin Fahim told Senate Wednesday.
Makhddoam Amin Fahim, in a written reply to the question of Ms Sughra Imam, said Pakistan had exported various items worth Rs 99.738 billion to India in last four years.
Giving the year-wise break-up, he said the country’s exports to India during the financial year of 2008-09 were Rs 24.350 billion against imports of Rs 93.471 billion. There were exports of Rs 22.489 billion and imports of Rs 102.872 billion in 2009-10, exports of Rs 22.602 billion and imports of Rs 149.047 billion in 2010-11 and exports of Rs 30.297 billion and imports of Rs 134.738 billion in 2011-12, he added.