Affairs of Petroleum Division in FY2020-21: AGP says weak internal controls resulted in unaccounted for receipts

ISLAMABAD: The Auditor General of Pakistan (AGP) has pointed out that weak internal controls resulted in unaccounted for receipts in financial statements for the financial year 2020-21 of the Petroleum Division which incurred a financial loss of Rs674 million.

Fifty-one challans relating to royalty on gas amounting to Rs458 million were available as per record files/royalty register maintained by the DG (PC) but the same were not accounted for by the AGPR.

Twenty-eight challans relating to royalty on oil amounting to Rs179 million were available as per record files/Royalty Register maintained but not accounted for by the AGPR.

Twenty challans relating to rent received from the E&P companies amounting to Rs36 million were also not accounted for by the AGPR.

This resulted in non-accountal/non-disclosure of receipts aggregating to Rs 674 million in the financial statements of the federal government.

Copyright Business Recorder, 2022