Friday , April 10 2020

Finance Ministry officials blamed of doing file tampering

Islamabad: Officials at Ministry of Finance have allegedly tampered with an official file that was prepared on the directions of a cabinet body to determine the liabilities, that have already crossed Rs 1.3 trillion by September 2018.

The Debt Policy Coordination penned down a note after making observation made by the budget wing pertaining to the liabilities that should be included in an ongoing in-house exercise. Budget wings officials immediately removed a note made by the debt policy officials.

This incident occurred in the last week of the December and Debt office realised this when the file was returned for further deliberations, However, the original note is still in the record.

The Economic Coordination Committee (ECC) of the cabinet had ordered the finance ministry to prepare a position paper on the status of the contingent liabilities. Liabilities stand at Rs1.253 trillion as of end September, according to the finance ministry which include Rs1.2 trillion guarantees in the domestic currency and Rs59 billion in foreign currency.

It should be noted that  Rs 1,3 trillion do not reflect on the paper, as there are certain things that are off-record in the Finance Ministry. To address this issue, ECC has directed that data to be reconciled.

Finance Minister wanted complete transparency to ensure the financial implications, informed finance ministry spokesman Dr Najeeb Khaqan.

Debt office prepared the file in the light of Fiscal Responsibility and Debt Limitation Act of 2005. The file was then sent to the finance secretary who gave it to the budget coordination wing where questions were put up tat why liabilities are not completely reflective?

 

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