Audit report NAB concerns Karachi?
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The Audit Report of the Federal Board of Revenue (FBR), Karachi, has come to our notice with concern. As the report has noted serious lacuna in the payment system, it is in need of a thorough overhaul, so as to prevent evasion of taxes and curb black money. The report also observes that the FBR needs to establish a robust and transparent accounting system for all transactions in addition to the present book system. The report also talks about a shortage of staff, and a high employee turnover, which has to be addressed
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Last week, I was approached by a businessman who is deeply concerned about the issue of audit report of National Bank of Pakistan (NAB) for the period 2003-2007. He explained that after going through this report, he found several serious lapses and weaknesses which could put the country’s economy in danger, if not corrected immediately. According to the report, several branches of NAB were found to have made loans to corrupt individuals, including high officials and politicians. The report also revealed that many cases
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NAB’s report is a clear and unmistakable cautionary note on the state of corruption in Karachi. It’s an unambiguous message to all those who think that they are above the law. In fact, the audit report has raised many questions about the state of governance and law enforcement in Karachi. The report uncovered a vast network of corrupt officials, police officers, politicians, and bureaucrats. It’s a wake-up call for Karachi residents, who have been
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“Audit report NAB concerns Karachi? Apart from financial troubles, this city is in shambles because of corruption. I would like to tell you about NAB, who conducted an audit on Karachi. The city has witnessed a 28% hike in the number of deaths over the past 24 months. Moreover, there are about 400,000 homeless people and over 140,000 registered cases of drug abuse.” “Let’s start with the report by National
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NAB is the most powerful law enforcement agency in Pakistan, set up by the country’s former dictator Gen. Pervez Musharraf to combat corruption. It took over investigation and prosecution in January 2009 of the assets of a leading businessman and his son. A day later, NAB handed the accused a case for criminal breach of trust, saying there was prima facie evidence to prove their allegations. On February 4, NAB’s Karachi office issued a second notice demanding $ 336
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I have heard that NAB is investigating several big cases of corruption and mismanagement in Karachi. Some of these cases are related to large properties and contracts that were awarded to friends and family of the local politicians. However, there has been a lot of criticism from the legal and political community about the lack of transparency and accountability in the NAB’s operations. Many have suggested that the reports are just a cover-up for corruption. I myself have personally known many people who have been accused of misappropriating public funds by
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The Audit Report for the financial year 2017-18 of Karachi, the capital of Sindh province, was recently released. A major scandal was uncovered in the report by the National Accountability Bureau (NAB) – Karachi. Karachi is home to one-third of Pakistan’s population and the capital of Sindh province. NAB Karachi found that the Karachi Municipality, responsible for water and sanitation services, had deficiently collected an estimated Rs. visa lawyer near me 2 billion over two years. The report
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Audit report NAB concerns Karachi? The legal fraternity in Karachi is in shock after an audit report by the Federal Investigation Agency (FIA) revealed serious lapses and irregularities in the accounting of National Bank of Pakistan (NAB) here. As per the audit report, the audited account of Karachi branch of NAB of nearly Rs74.5 million, the largest in the country, was found to be fake. The audit report stated that in 2009, as per a