LAHORE: A report by the Auditor General of Pakistan (AGP) for the fiscal year 2016-17 has revealed financial discrepancies of Rs11.1481 billion in Punjab’s Higher Education Department (HED), according to a report by a private media outlet. The higher education sector of Punjab accounts for 25.34% of the total financial irregularity in the province. The report said that during the audit of HED, the auditable record relating to different transactions were not produced despite repeated requests. The report also found that the management of five institutions had been operating several unauthorized bank accounts. The report notes that the HED had the final budget at the end of the fiscal year 2016 of Rs32.467 billion.

Source: Pakistan Today February 19, 2018 05:15 UTC