ISLAMABAD: As auditors set audit paras related to embezzlement of over a billion rupees in investment fund i.e. employees’ retirement benefits funds in Pakistan Standard and Quality Control Authority (PSQCA), an attached department of Ministry of Science and Technology (MoST), the federal minister of MOST has taken serious notice of the issue.
According to available documents, Minister of Science and Technology Agha Hassan Baloch, during a meeting held on September 15, 2022, has asked the authority to probe the issue and submit a detailed reply as soon as the massive embezzlement by the finance department of PSQCA was very surprising.
The meeting was attended by former additional secretary MoST Syed Ataur Rehman, Shahzad Naim, former Chief Financial Officer (CFO) PSQCA, Khalid Ahmed Bablani, Director Finance PSQCA, Syed Ali Muhammad Bukhari, Deputy Director Finance, Shahzad Ahmed Siddiqui ,Audit Officer PSQCA and others.
The meeting was held to discuss internal audit report 2010-2022 of PSQCA in continuation of fact-finding inquiry related to corruption cases in the authority.
The Minister, after noticing negligence on the part of Syed Ataur Rehman, who previously held acting charge as DG PSQCA, Shahzad Naim, as CFO, removed them from their positions last month. Both officials, later, were also transferred from the ministry.
It may be mentioned here that the minister has reportedly taken notice of a news item appeared in Pakistan Today regarding the audit report. It was reported that the National Accountability Bureau (NAB) has initiated an inquiry into the financial embezzlement in PSQCA. The NAB Rawalpindi, through a notice, had asked MoST to provide related information, documents and records about officials allegedly involved in financial and administrative irregularities and corruption cases.
While taking notice complaints registered by employees of PSQCA against Ali Muhammad Bukhari, Deputy Director Finance of PSQCA, the NAB Rawalpindi/Islamabad has asked the ministry to provide details required to initiate the inquiry.
The complainants had requested NAB to conduct an inquiry and forensic audit of accounts of PSQCA as they suspect suspicious transactions and financial embezzlement worth over a billion Rupees in the government institution.
Following audit reports of the Auditor General of Pakistan about the massive financial irregularities and illegal appointments at the PSQCA, the MoST had earlier constituted a committee to probe into the matter. The committee comprising of MoST Chief Finance and Accounts Officer Shazad Naim and Assistant Accounts Officer (F&A) Adeel Ahmad, was constituted for conducting an inquiry regarding financial and administrative mismanagement allegedly committed by Ali Muhammad Bukhari.
Apart from the financial irregularities, Bukhari was also alleged to get his two sisters, one brother and one niece appointed in the PSQCA. Besides, the committee was also supposed to investigate the authenticity of the degrees of his relatives hired in PSQCA as well as alleged financial and administrative mismanagement of Bukhari himself.
As per available documents, Bukhari has made over 55 suspicious transactions worth millions of rupees from 2014 to 2017 from various accounts of NBP, for reportedly PSQCA Investment purpose. The transactions were suspicious and made in cash mode which is itself against the GFR rules and violation of government directives.
Apart from the suspicious transactions, Bukhari, who served in the finance department of PSQCA from 2008 to 2022, was also alleged in financial irregularities regarding reinvestment worth billions of rupees in various branches of NBP in term deposit receipts (TDRs).
According to insiders, despite the minister’s direction to conclude probe into the issue, the concerned official at PSQCA has still not handed over the official records and information to his subordinates despite the fact that the Deputy Director (Finance)/Ex-DDO /custodian of all Investment Fund and record, Finance Wing, PSQCA, has been serving the government organization as a Drawing and Disbursing Officer from January 1, 2008 to February 28, 2022.
