BISP paid Rs840 million commission to six banks on Rs24 billion disbursements, PAC sub-panel told

A sub-committee of the Public Accounts Committee (PAC) was informed by audit officials that ₨24 billion was disbursed to Benazir Income Support Programme (BISP) beneficiaries through six commercial banks, while ₨840 million was paid to the banks as commission charges.

As per reports, the committee discussed the issue during a meeting chaired by Shahida Akhtar Ali and reviewed audit observations relating to the Ministry of Poverty Alleviation and Social Safety Division for the financial years 2010-11 and 2013-14.

According to the audit authorities, the banks were not selected through a competitive bidding process, which may have resulted in commission payments that were higher than necessary.

Following deliberations, the sub-committee directed the relevant department to have the record verified by audit authorities.

The committee also decided that the audit objection could be settled after verification of the relevant documents and confirmation from audit officials.