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Govt orders audit of metro bus projects

ISLAMABAD: The government on Thursday formally ordered to carry out audit of all metro bus projects in the country, said Information Minister Fawad Chaudhry. Detailing about excessive expenditures on the mega projects, following a cabinet meeting in Islamabad, the minister said Lahore metrobus project was being run with an annual subsidy of Rs4.20 billion and Multan metro bus project was getting Rs2.1 billion annual subsidy from the government. The multi-billion rupee metro bus projects were launched by the Pakistan…

SC upholds ban on replacement of flag with Markhor on PIA aircraft

ISLAMABAD: The Supreme Court on Saturday directed the Auditor General of Pakistan to complete an audit of the loss-making Pakistan International Airlines (PIA) and submit a report within ten weeks.  Headed by Chief Justice of Pakistan Mian Saqib Nisar, a bench of the apex court was hearing a case with regard to the replacement of the Pakistani flag on the tail of PIA aircraft with the picture of markhor. The bench restrained the PIA management from painting the picture of markhor on aircraft. Justice Nisar pointed…

Rs60bn losses: Supreme Court orders audit of Pakistan Railways

LAHORE: The Supreme Court on Saturday ordered a complete audit of Pakistan Railways to fix the liability for multi-billion rupees financial losses incurred by the national entity.  Headed by Chief Justice of Pakistan Mian Saqib Nisar, a two-judge bench of the apex court was hearing at the Lahore registry a suo motu case pertaining to the colossal losses of Rs60billion incurred by Pakistan Railways. Railways Minister Khawaja Saad Rafique appeared before the court in response to its summon. During the course of…

CM Sindh orders audit of exponential rise in pension payments

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday ordered a high-level inquiry over the huge expenditures incurred in the account payments of pensions. The chief minister issued the directives while presiding over a meeting on three-year budget strategy 2016-17 to 2020-21.The meeting was attended by Principal Secretary Sohail Rajput and all the concerned officers of finance, planning and development department and Sindh Revenue Board. During the presentation, the chief minister was told that during the…

Facebook to provide ad data for independent audit

Facebook said it would provide information about ads displayed on its platform for an audit, months after the social network admitted to overstating key ad metrics. The audit by media regulator Media Rating Council (MRC) will likely provide more clarity to advertisers. Facebook said in September that a metric for average user time on videos was artificially inflated as it only counted videos viewed for over three seconds. The company will provide data including exact time in milliseconds that an ad was displayed on…

Audit exemption notified

Islamabad: The Federal Board of Revenue issued a notification on Thursday, announcing audit amnesty for those taxpayers who declare 25 per cent more income during the tax year 2013 from a year ago. The scheme will be available on the tax returns filed until Dec 15, 2013. So far 200,000 people have filed their tax return online. Those people, who did not declare or pay 25pc more in the tax year 2013 over the previous year and selected for audit under the computer random balloting, cannot avail the exemption from the…