A fact-finding committee, formed by the Punjab Chief Secretary, has officially launched an investigation into a major financial scandal involving the embezzlement of Rs 1.94 billion at the Rawalpindi Development Authority (RDA).
The committee aims to examine the alleged negligence and mismanagement by authorities holding financial signatory powers at the RDA.
During its first meeting in Lahore, the committee raised concerns about RDA’s flawed financial management system. It demanded the full disclosure of RDA’s bank account records and details on the transfer of funds through Call Deposit Receipts (CDRs) to other banks.Â
The next meeting is scheduled for June 19, during which all Directors of Administration and Finance from the past nine years have been summoned. A decision on whether to call former Directors-General will be made later.
The investigation is already being pursued by two separate agencies: the National Accountability Bureau (NAB) and the Punjab Anti-Corruption Establishment (ACE), Rawalpindi Region.Â
The investigation also took into account the suspicious death of Junaid Taj Bhatti, the former Deputy Director of Finance at RDA, whose death under mysterious circumstances in Sialkot on May 13 has added complexity to the scandal. The cause of death, possibly a suicide or murder, is under investigation.
This scandal is considered the largest financial issue in RDA’s history, with embezzlement spanning nearly a decade. Despite regular audits of RDA’s accounts, the large-scale theft was not detected.Â
The lack of oversight by financial officers, including Directors-General and Directors of Administration and Finance, who failed to review bank statements, allowed the issue to go unnoticed.
