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KP PAC for Reinvestigating Financial Irregularities in SMEDA

Peshawar: The Public Accounts Committee (PAC) of the KP Assembly expressed its displeasure with the lack of adequate financial oversight of public sector organizations and requested that the Industries Department re-examine lending irregularities in a number of projects put forth by the Small and Medium Enterprise Development Authority (SMEDA).

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The observations were made at a conference to dispose of audit paras on financial irregularities in SMEDA projects under the Industries Department during the militancy period.

High-ranking representatives from the departments of industries, commerce, technical education, law, finance, accounts, and audit attended the meeting, which was presided over by MPA Muhammad Idrees at the KP Assembly Secretariat. Other attendees included MPAs Inayatullah, Salahuddin, and Babar Saleem Swati.

It also highlighted the necessity of creating a flawless system for joint departmental oversight of the lending support to the SME so that qualified youth might reap its benefits.

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Nonetheless, the committee requested that the departments speed up the process of recovery in regards to harm done to public finances during the under Pera periods, including loss brought on by a failure to reclaim monies from defaulters.

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