Islamabad, Feb 26: The Public Accounts Committee (PAC), chaired by Junaid Akbar, reviewed the audit report of the Capital Development Authority (CDA) for the fiscal year 2023-24, uncovering significant irregularities. The session exposed a non-transparent auction of 29 commercial plots and the absence of financial statements, raising serious concerns about the authority’s financial management.
Audit officials revealed that the CDA Board had approved the auction of these plots for over Rs. 37 billion, but the process lacked transparency. Five plots were postponed, and one faced legal complications, prompting questions about why such issues were not addressed before approval. The committee members strongly criticized CDA’s failure to submit financial statements, a legal requirement under the CDA Act.
PAC members expressed dissatisfaction over the absence of financial reports, with the committee chair questioning the negligence. Audit officials warned that violating the ordinance could result in legal consequences, including imprisonment. Shockingly, it was revealed that the CDA had never prepared financial statements in its history. CDA’s Finance Member acknowledged this failure but assured that the financial report for 2023-24 was currently being prepared.
The conduct of CDA Chairman also came under scrutiny during the session. Senator Bilal Mandokhail objected to his dismissive attitude toward audit officials, questioning why he told them to “just read the report” instead of addressing their concerns properly. Following backlash from the committee, the CDA Chairman apologized, admitting that his approach may have been inappropriate and promising to be more mindful in the future.
Further concerns were raised regarding the auction process. While the CDA Board had approved the auction of 29 plots, only 22 were actually auctioned. Audit officials highlighted that the failure to fully implement the board’s instructions made the process non-transparent. PAC members condemned this mismanagement and stressed the need for greater accountability.
To address the ongoing financial and administrative issues, the PAC issued a six-month deadline for the CDA to finalize and submit its financial statements. The committee also mandated monthly progress updates to ensure compliance. Meanwhile, the Secretary of the Interior apologized to the PAC for CDA’s failure to prepare financial reports, while the committee remained firm in demanding transparency and better financial management from the authority.
