Public Accounts Committee Unhappy With Foreign Loan Repayment Strategy

The Public Accounts Committee (PAC) is unhappy with Pakistan’s foreign loan repayment system, summoned the Finance Ministry for a detailed briefing. The committee also dismissed the Ministry of Economic Affairs’ projections on dollar fluctuations as inaccurate. During the session, PAC members raised concerns over rescheduling a Rs. 58 billion loan, which must be repaid at all costs. The committee also summoned the Ministry of Planning and Development for further discussions. The committee reviewed multiple audit reports and questioned the Rs. 181 million loss due to delays in constructing Pakistan’s embassy building in Kathmandu and a Rs. 97 million discrepancy in the Berlin embassy’s accounts. Foreign ministry officials admitted the lapse and assured corrective measures. Further disclosures included illegal salary payments of Rs. 49 million in London and Paris. Some officers were receiving double salaries for no reason. The PAC chairman directed the Finance Ministry to resolve the matter within 15 days and ordered a one-month deadline to address overpayments to officers. Meanwhile, Rs. 11 million deposited in a Nairobi bank account remained untransferred to Pakistan due to banking issues in Kenya. The committee instructed the foreign ministry to verify and adjust the amount. The session also addressed pension disbursements and confirmed that retired officers living abroad receive pensions in Pakistani rupees.