This refers to the news item report, which appeared in the daily Business Recorder of June 26, 2007 under the caption "massive irregularities found in EDF and EMDF". Ministry of Commerce and Trade Development Authority of Pakistan strongly rebuts the news item. It is clarified that audit of government funds is a standard requirement under the existing rules.
However, the initial observations are looked into jointly by the audit department and the Ministry whose accounts are being checked and the final report is drafted taking into account the clarifications and documents provided by the latter.
In this case also, the standard practice was followed and the observations of Audit were satisfied and objections removed following provision of relevant documents and clarifications. Further, actions required to be taken in the light of advice by the audit department were completed to meet the requirements of all codes.
Without going into details of each initial observation of audit, as indicated in the news item, suffice it to say that the correspondent chose to report on raw information without reference to the process through which the audit observations were satisfied and objections removed. BR reporter maintains: The story is based on the Auditor General's audit report of EDF and EMDF, which was tabled in the National Assembly last week.
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