ISLAMABAD: A report by Auditor General of Pakistan (AGP) has revealed misappropriations and embezzlement of over Rs4 billion in one year by the Pakistan Railways (PR) management, Express 24/7 reported on Friday.
According to the report presented in the National Assembly, PR had suffered a loss of more than Rs4.57 billion in violation of rules and regulations, in one year.
The report said PR suffered Rs407.2 million loss due to fraud, corruption, theft and misuse of resources while manipulation in accounting figures dented PR with Rs150 million.
The report says bad management, poor internal structure and negligence had cost PR Rs2 billion.
Earlier, the government had released Rs2 billion to avert an imminent crisis in Pakistan Railways. Senior finance ministry officials had told The Express Tribune that railway officials had sent a summary for immediate approval, urging the government to release Rs3.5 billion for fuel and workers’ salaries, adding that after due consideration, the ministry had released Rs2 billion on an emergency basis to avert a crisis.
However, sources said, railways officials have been told to improve their efficiency and raise funds on their own.