Billions of Rupees Irregularity Observed in PIA Audit Report - Airline's CEO Issues Show Cause Notice to CFO

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Abbas Ali
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Billions of Rupees Irregularity Observed in PIA Audit Report - Airline's CEO Issues Show Cause Notice to CFO

Post by Abbas Ali » Sun Aug 12, 2018 6:05 pm

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According to news sources, Chief Executive Officer (CEO) PIA Musharraf Rasool Cyan has issued a show cause notice to Chief Financial Officer (CFO) PIA Nayyar Hayat over irregularities in billions of rupees observed in ten-year (2008-2017) PIA audit report.

Government of Pakistan had arranged around 31 billion rupees in bailout packages for PIA but on the other hand PIA finance fund section shows around 23 billion rupees received by the airline.

Government of Pakistan had given guarantees for for 177 billion rupees for PIA but airline's finance depart shows government guarantees for 175 billion rupees.

The Supreme Court of Pakistan is seeking PIA audit report for the last ten years.

Abbas
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Abbas Ali
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Re: Billions of Rupees Irregularity Observed in PIA Audit Report - Airline's CEO Issues Show Cause Notice to CFO

Post by Abbas Ali » Mon Aug 13, 2018 5:26 pm

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Re: Billions of Rupees Irregularity Observed in PIA Audit Report - Airline's CEO Issues Show Cause Notice to CFO

Post by Abbas Ali » Wed Aug 15, 2018 1:44 pm

PIA’s 10-year financial documents summoned by Auditor General for review

By APP - August 14, 2018

ISLAMABAD:
Pakistan International Airlines (PIA) has been asked to submit its financial documents for the last ten years for review by the Auditor General of Pakistan (AGP).

The decision to retrieve these documents was made on the directives of the Supreme Court of Pakistan after the Auditor General shed some light on the disclosures made by the national carrier.

According to the office of the Auditor General, PIA received a sum of Rs31 billion from the commerce ministry, whereas the amount disclosed by the management of the firm stood at Rs23.565 billion.

Similarly, as per the AG, PIA received a sum of Rs177.23 million from the finance ministry, but the amount disclosed stood at Rs175.086 million on paper.

Source: Pakistan Today
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