ISLAMABAD: The Public Accounts Committee (PAC) on Tuesday took the Ministry of Petroleum to task while examining audit objections exceeding Rs20 billion, highlighting large-scale non-recovery of petroleum levies, weak enforcement mechanisms and questionable financial practices that have caused significant losses to the national exchequer.
The audit objections were reviewed during a meeting of the apex parliamentary committee chaired by Syed Naveed Qamar. Members examined cases involving Rs14.63 billion in unpaid petroleum levy and penalties linked to Hascol and Synergy.
Expressing concern over the prolonged nature of the case, the committee chairman questioned the ministry on the actual recovery made so far. Audit officials informed the PAC that only Rs190 million had been recovered against the outstanding amount.
The secretary petroleum told the committee that Hascol had paid the dues, but the amount was mistakenly deposited into an incorrect account. However, the Auditor General of Pakistan informed the committee that the said account had since been closed, making rectification of the record impossible.
The PAC expressed dissatisfaction over the handling of the matter and underscored the need for stronger oversight, timely recovery of government dues and effective accountability to prevent further losses to the public exchequer.
