ISLAMABAD – A recent audit exposed financial mismanagement and illegal practices inside Pakistan Software Export Board (PSEB), the department responsible for the country’s tech exports.
The explosive report uncovered financial irregularities covering FY 2023–24, showing Rs 1.4 billion in financial irregularities, raising serious concerns about accountability in Pakistan’s IT sector.
From unauthorized fund transfers and post-retirement reappointments to unsecured payments to vendors, the PSEB audit shows picture of misgovernance, abuse of power and neglect. The report said some personnel continued drawing a salary after retirement, most likely with board approval. But auditors questioned whether the board even had the legal power to make such a move.
Amount over Rs10 crore was shifted from the government treasury account into other accounts in total violation of financial rules.
Projects under the ICT for Development saw vendors receiving massive advance payments, with no guarantees or collateral as audit warns these unsecured transactions put public money at serious risk.
Terminal benefits and medical leave funds were not transferred properly, as audit called for immediate reforms and better systems. In more than two dozen serious audit findings, only 3 have been sent to the Public Accounts Committee (PAC) for review.
Departmental Accounts Committee (DAC) issued repeated warnings and orders, recovering public funds immediately. Despite some actions being taken, including referral of cases to the FIA and legal arbitration, much of the damage remains unaddressed.
