Asad Umar underscores need for effective audit system

ISLAMABAD: Finance Minister Asad Umar, while highlighting the importance of the audit system in economy, said on Thursday that the Pakistan Tehreek-e-Insaf-led federal government will strengthen all institutions including the office of the auditor general.

“It is necessary to carry out all public transactions in utmost transparent manner,” he said while addressing a seminar on Pak-China Audit Systems in Islamabad. “The audit system plays a key role in a country’s economy.”

The minister said an efficient and strong audit institution was a pre-requisite for ensuring transparency and good governance in the country.

China had a very effective audit system which had helped it in eradicating corruption, he said, adding that Pakistan can also learn a lot from the Chinese audit system to improve its audit institution and eliminate corruption from society.

Mr Umar said, “It is our resolve to bring complete transparency to state institutions.” Highlighting the significance of public-private partnership, he said efforts were underway to formulate a form to facilitate and promote public-private ventures.

“The government wants to spend the resources in a better manner,” he avowed.