The Public Accounts Committee (PAC) was told on Wednesday that financial irregularities of over Rs72 billion had been detected in the audit report of the Federal Board of Revenue (FBR) for the year 2019-20, reported 24NewsHD TV channel.
The committee, which met with member of the National Assembly (MNA) Noor Alam Khan in the chair, was informed by the audit department officials that the national exchequer had suffered the loss of over Rs2 billion due to the non-collection of value addition tax on imported items.
The officials disclosed that the tax was not collected in 6, 874 cases at the FBR’s 10 field offices.
It was also revealed that the recoveries of only over Rs20 million had been made in the last three years.
The body ordered an inquiry into the financial irregularities as well as non-collection of the tax so that those responsible could be taken to the task.
Reporter: Usman Khan