PAC Orders NBP to Recover Rs27.85m

The Public Accounts Committee (PAC) of the National Assembly on Wednesday instructed the National Bank of Pakistan (NBP) to commence legal action for the recovery of Rs27.85 million that has remained unpaid by one of its executive vice presidents for the last four years, Dawn reported.

The order came during the committee’s examination of the Finance Division’s audit reports for 2023-24. Representatives from the Auditor General’s office informed the committee that the outstanding amount had yet to be retrieved despite significant time having passed.

In response to lawmakers’ queries about possible measures, the finance secretary proposed initiating internal disciplinary proceedings within NBP against those accountable. However, PAC members directed NBP President Rehmat Ali Hasnie to file a formal recovery case and provide a compliance report within 15 days.

The committee voiced serious concern over the prolonged delay in reclaiming public funds and underscored that accountability must be ensured through appropriate legal mechanisms.