RS1.5b Financial Scandal meets RDA

Rawalpindi:

A large financial scandal has come to light in the Rawalpindi Development Authority (RDA).

Allegations indicate embezzlement of around 1.5 billion rupees, which goes back to the 2016-2017 financial years.

According to sources, relevant officials are now expected to face the survey.

An internal examination committee has been constituted and the matter can be forwarded to the National Accountability Bureau (NAB).

Sources said that the RDA-the executive agency behind the most important infrastructure projects such as the completed RAWALPINDI ISLAMABAD U-Bahn bus and the ring road project in the substructure for a long time were involved in a practice of issuing call deposits (CDRS), although funds are available in bank accounts.

This was allegedly carried out to avoid income tax deductions. According to high -ranking managers, the transparency and financial discipline were unable to maintain high -ranking employees in this process.

Through the protocol, all financial transactions with the bank require a joint approval from the head of the agency and the head of the competent department.

According to reports, reports to RDA funds of 3 billion rupees were missing. This number was later revised to 1.5 billion rupees, which after years of silence on this topic led to an internal examination.

RDA General Director Kinza Murtaza has now set up an internal investigation committee for investigating the alleged financial misconduct.

The committee includes Director Admin and Finance Qazi Sothaib Ahmed, Director of State Management Shehzad Nasir Gondal, Director Land Malik Ghazanfar Awan and director of Wasa Tahir Bashir. The committee is expected to conjure up RDA officials as part of the probe.

Sources say that the committee does not have to receive any records from the bank. Relevant RDA officials are currently in contact with the affected bank to secure the documentation.

The examination is intended to check the output of the CDRS and pursue the actual recipients of the credited funds.

According to internal findings so far, CDRs of 1.5 billion rupees of different people and companies have been attributed.

It is important to note that the authority for cash transfer and other financial matters are together with the head of the institute and the head of the institute.

Despite several attempts, General Director Kinza Murtaza could not be achieved for a comment on the alleged financial scandal.