ISLAMABAD: The Public Accounts Committee (PAC) on Tuesday scrutinised audit reports for the Economic Affairs Division and the Ministry of Foreign Affairs for the fiscal year 2023-24, showing significant financial irregularities.

During the session, officials disclosed that the Economic Affairs Division had received a grant of Rs12.97 billion, with Rs122 million returned. The committee directed officials to address outstanding audit objections. It was further revealed that the division utilised an additional Rs46.19bn in the fiscal year 2022-23 due to exchange rate fluctuations. Secretary of Economic Affairs attributed this increase to currency depreciation.

Criticising financial planning, PAC member Omar Ayub Khan said the finance ministry’s foreign exchange predictions had failed completely, pointing out that the dollar had surged from Rs180 to Rs256. Expressing concern over economic management, he said the government appeared to have lost control over financial matters.

Public Accounts Committee (PAC) Chairman Junaid Akbar questioned the........

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