Punjab govt wasted Rs 30 billion in Sasti Roti Scheme
Governmental Deception Punjab govt wasted Rs 30 billion in Sasti Roti Scheme.
ISLAMABAD- Auditor General of Pakistan has unearthed a major fiscal scam in the Sasti Roti Scheme.(Dunya News Breaks 29 April,2013)
A report by AGP says Shabaz Sharif government took loans worth Rs 25 billion from various commercial banks at 15.10 mark-up in 2009-2010 for making payment to some flour mills.
When the time came for the return of these loans, the Punjab government realized that it had no funds left in the exchequer for the purpose.
As a result the Punjab government had to pay a fine of Rs 4 billion to these banks for delay in return of the amount.
The Auditor General Pakistan has revealed that 30 billion rupees were spent on Sasti Rooti Scheme in one fiscal year. This amount was paid to the different flour mills in Punjab.
The scheme was closed after reports of wide-scale misappropriations were reported in the tandoors and flour mills.
Now the AGP, after conducting a formal inquiry into the matter, has revealed that the actual losses in the unsuccessful scheme were much more that the initial estimates.
The AGP report falsifies the PML-N claims that only Rs 8 billion were spent on the scheme.
The report exposes the tall claims of good governance by former Chief Minister Mian Shahbaz Sharif. It reveals that the said loans were acquired through the Punjab Food Department.
The document says that in 2009 and 2010 Punjab government bought wheat at expensive rates and supplied to the flour mills at subsidized rate Rs 410 per 40kg.
The Auditor General Pakistan says his office contacted the Punjab Food Department over the matter but it did not respond.
ISLAMABAD- Auditor General of Pakistan has unearthed a major fiscal scam in the Sasti Roti Scheme.(Dunya News Breaks 29 April,2013)
A report by AGP says Shabaz Sharif government took loans worth Rs 25 billion from various commercial banks at 15.10 mark-up in 2009-2010 for making payment to some flour mills.
When the time came for the return of these loans, the Punjab government realized that it had no funds left in the exchequer for the purpose.
As a result the Punjab government had to pay a fine of Rs 4 billion to these banks for delay in return of the amount.
The Auditor General Pakistan has revealed that 30 billion rupees were spent on Sasti Rooti Scheme in one fiscal year. This amount was paid to the different flour mills in Punjab.
The scheme was closed after reports of wide-scale misappropriations were reported in the tandoors and flour mills.
Now the AGP, after conducting a formal inquiry into the matter, has revealed that the actual losses in the unsuccessful scheme were much more that the initial estimates.
The AGP report falsifies the PML-N claims that only Rs 8 billion were spent on the scheme.
The report exposes the tall claims of good governance by former Chief Minister Mian Shahbaz Sharif. It reveals that the said loans were acquired through the Punjab Food Department.
The document says that in 2009 and 2010 Punjab government bought wheat at expensive rates and supplied to the flour mills at subsidized rate Rs 410 per 40kg.
The Auditor General Pakistan says his office contacted the Punjab Food Department over the matter but it did not respond.
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