Fresh audit ordered in RDA scam

The Rawalpindi Development Authority (RDA) has hired an audit firm to determine the reasons behind the alleged transfer of billions of rupees from the securities account linked to its financial scandal.

The RDA acquired the services of audit firm Riaz & Co for a fee of Rs2.5 million. The audit firm will prepare its report within eight weeks. The report will also include recommendations which ensure that such incidents do not occur in the future.

For the past one year, the RDA has been unable to determine the total amount of funds transferred from its securities account, neither the total amount that was in the account, nor where its records were. It has now hired the services of the audit firm to resolve these issues.

The discrepancies in the RDA's securities account comes after the NAB recently resolved another case which had emerged during the authority's financial scandal, wherein Rs1.94 billion had been transferred from the RDA official account to various individuals and companies through CDRs (Call Deposit Rests).

NAB took action by recovering the transferred amount through plea bargains, settlements and recoveries, while freezing 31 immovable properties and appointing a receiver for them.