fisher1
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Why would someone need 77 bank accounts? 
I can't even understand the level of corruption...I mean 77 accounts!. Just wow
www.thenews.com.pk
ISLAMABAD: The scrutiny committee, constituted by the Election Commission of Pakistan (ECP), said in its analysis that Pakistan Tehreek-e-Insaf (PTI) disclosed only 12 bank accounts in the foreign funding case, and concealed 53 other bank accounts.
The report said no date had been mentioned on the audit reports of 2012 and 2013 and the receipts provided by the audit firms did not match with the bank accounts. It said the audit report without date on it was against the accounting standards. The report said the audit statement had been sent to the PTI central executive committee for approval.
The accounts details of the PTI provided by an American institute Fora LLC were also a part of the report. The report said the State Bank of Pakistan (SBP) revealed that the PTI had 65 bank accounts.
In years 2008-9 and 2012-13, the party showed funds amounting to Rs1.33 billion while in reality it received funds totalling Rs1.64 billion. So the report found an anomaly of Rs310 million, declaring that the PTI provided wrong information to the ECP regarding public donations.
The report said the PTI disclosed only 12 accounts, out of 77, hiding an amount of Rs310 million. The party hid two bank accounts in 2008-09. It also did not give access to the party accounts in Canada and New Zealand.
The details of undisclosed funds came to the fore after analysing the information provided by the SBP. The scrutiny committee was formed in 2019 to audit foreign funding received by the PTI.
The case began in 2014 when the party's founding member, Akbar S Babar, filed it. However, the scrutiny committee failed to give its opinion about sources of funds transferred to
the bank accounts of PTI from 2008 to 2013. The official data showed that when the scrutiny committee was constituted by the ECP in March 2019, it was clearly directed to give its opinion about sources of funds given to the PTI. But, surprisingly, the committee, in its report, presented a lame excuse that despite repeated efforts, the PTI never provided sources of funds; so it was not able to make any opinion in that regard.
The scrutiny committee had the authority to direct the PTI to provide sources of funds but, apparently, it never tried to exercise its powers in the last three years.
The report submitted by the scrutiny committee also revealed that the PTI concealed much of the amounts received as donations or contributions in financial year 2012-13 around general elections that stood at Rs145.098 million.
According to the report, as per Form-I submitted by the PTI, it received Rs1.054 billion in financial year 2012-13 through four bank accounts including KASB Bank Blue Area Islamabad, Habib Bank Limited (HBL) Civic Centre Islamabad, United Bank Limited (UBL) Jinnah Avenue Islamabad and KASB Bank Gulberg Lahore.
The report revealed the data compiled by the SBP showed that the PTI received donations and contributions worth Rs1.199 billion through 18 bank accounts.
The report revealed that the PTI not only concealed its 14 bank accounts but also never declared amount worth Rs145.098 million in financial year 2012-13.
It stated that from 2008-2009 to 2012-2013, the PTI submitted annual declarations (Form-I) to the ECP and made disclosure of donations and contributions for an amount of Rs1.332 billion. Whereas an analysis of bank statement obtained through the SBP revealed that an amount of Rs1.642 billion was credited to the PTI accounts during the ‘Scope Period’.
The report presented by the SBP had been made part of the report of the scrutiny committee that helped reveal the details of transfer of funds into these accounts.
The SBP report showed 26 accounts of PTI including Bank Islami KASB Bank (six accounts), HBL (11 accounts), UBL (two accounts), Muslim Commercial Bank (MCB) (four accounts) and one each of National Bank of Pakistan, Bank of Khyber and Bank of Punjab. The PTI showed only six out of these 26 accounts in its annual declaration.
The PTI counsel, during the hearing on Tuesday, requested for keeping the report secret, but a member of the ECP said: “This is not an in-camera session”. The commission also ordered for providing copy o the report to all stakeholders.
Today, in a Twitter post, Akbar S Babar thanked Allah, saying he stands "vindicated".
I can't even understand the level of corruption...I mean 77 accounts!. Just wow
Foreign funding case hearing: ‘PTI concealed its bank accounts’
ISLAMABAD: The scrutiny committee, constituted by the Election Commission of Pakistan , said in its analysis that Pakistan Tehreek-e-Insaf disclosed only 12 bank accounts in the foreign funding...
www.thenews.com.pk
ISLAMABAD: The scrutiny committee, constituted by the Election Commission of Pakistan (ECP), said in its analysis that Pakistan Tehreek-e-Insaf (PTI) disclosed only 12 bank accounts in the foreign funding case, and concealed 53 other bank accounts.
The report said no date had been mentioned on the audit reports of 2012 and 2013 and the receipts provided by the audit firms did not match with the bank accounts. It said the audit report without date on it was against the accounting standards. The report said the audit statement had been sent to the PTI central executive committee for approval.
The accounts details of the PTI provided by an American institute Fora LLC were also a part of the report. The report said the State Bank of Pakistan (SBP) revealed that the PTI had 65 bank accounts.
In years 2008-9 and 2012-13, the party showed funds amounting to Rs1.33 billion while in reality it received funds totalling Rs1.64 billion. So the report found an anomaly of Rs310 million, declaring that the PTI provided wrong information to the ECP regarding public donations.
The report said the PTI disclosed only 12 accounts, out of 77, hiding an amount of Rs310 million. The party hid two bank accounts in 2008-09. It also did not give access to the party accounts in Canada and New Zealand.
The details of undisclosed funds came to the fore after analysing the information provided by the SBP. The scrutiny committee was formed in 2019 to audit foreign funding received by the PTI.
The case began in 2014 when the party's founding member, Akbar S Babar, filed it. However, the scrutiny committee failed to give its opinion about sources of funds transferred to
the bank accounts of PTI from 2008 to 2013. The official data showed that when the scrutiny committee was constituted by the ECP in March 2019, it was clearly directed to give its opinion about sources of funds given to the PTI. But, surprisingly, the committee, in its report, presented a lame excuse that despite repeated efforts, the PTI never provided sources of funds; so it was not able to make any opinion in that regard.
The scrutiny committee had the authority to direct the PTI to provide sources of funds but, apparently, it never tried to exercise its powers in the last three years.
The report submitted by the scrutiny committee also revealed that the PTI concealed much of the amounts received as donations or contributions in financial year 2012-13 around general elections that stood at Rs145.098 million.
According to the report, as per Form-I submitted by the PTI, it received Rs1.054 billion in financial year 2012-13 through four bank accounts including KASB Bank Blue Area Islamabad, Habib Bank Limited (HBL) Civic Centre Islamabad, United Bank Limited (UBL) Jinnah Avenue Islamabad and KASB Bank Gulberg Lahore.
The report revealed the data compiled by the SBP showed that the PTI received donations and contributions worth Rs1.199 billion through 18 bank accounts.
The report revealed that the PTI not only concealed its 14 bank accounts but also never declared amount worth Rs145.098 million in financial year 2012-13.
It stated that from 2008-2009 to 2012-2013, the PTI submitted annual declarations (Form-I) to the ECP and made disclosure of donations and contributions for an amount of Rs1.332 billion. Whereas an analysis of bank statement obtained through the SBP revealed that an amount of Rs1.642 billion was credited to the PTI accounts during the ‘Scope Period’.
The report presented by the SBP had been made part of the report of the scrutiny committee that helped reveal the details of transfer of funds into these accounts.
The SBP report showed 26 accounts of PTI including Bank Islami KASB Bank (six accounts), HBL (11 accounts), UBL (two accounts), Muslim Commercial Bank (MCB) (four accounts) and one each of National Bank of Pakistan, Bank of Khyber and Bank of Punjab. The PTI showed only six out of these 26 accounts in its annual declaration.
The PTI counsel, during the hearing on Tuesday, requested for keeping the report secret, but a member of the ECP said: “This is not an in-camera session”. The commission also ordered for providing copy o the report to all stakeholders.
Today, in a Twitter post, Akbar S Babar thanked Allah, saying he stands "vindicated".
