FD’s ZTBL report for FY24: PAC settles audit paras worth Rs22.5bn

ISLAMABAD: Public Accounts Committee (PAC) on Wednesday settled most of the audit paras worth Rs 22.5 billion highlighted in Finance Division Audit Report for year 2023-24 pertaining to ZTBL. The committee members showed satisfied the overall performance of the bank.

The committee met under chairman Muhammad Moin Aamer Pirzada.

During the audit of ZTBL for year 2022, the audit report pointed out weak internal control, the targets for special asset management (SAM) recovery could not achieve and suggested the bank that charge off loans should be recovered at the earliest.

The official of ZTBL states that total SAM loans charge off outstanding portfolio as on December 2024 was Rs 53 billion which has now been reduced to Rs 45 billion and total portfolio reduction stands at Rs 7.9 billion.

In another case, the audit officials observed that nine zones along with their 144 branches sustained a loss of Rs 2.2 billion in 2022. The main cause of loss was the absence of assigned targets and inadequate monitoring by business division.

On February 19, 2026, loss has been converted to profit from Rs 2.2 billion as on December 31, 2022 to Rs 341 million Overall Rs 2.5 billion loss decreased.

In yet another case, the committee settled the para pertaining to purchase of 45 vehicles of Rs 116 million in alleged violation of directives of the Finance Division.

In missing loan case files across Pakistan in 2022, audit was of the view that 22,134 loan case files were either untraceable within the local branches or had not been transferred the CAD hub. The committee appreciated the efforts of the bank only 9915 files left to reconstructed.

Copyright Business Recorder, 2026