A PYMNTS Company

Pakistan: CCP finances come under fire

By  |  September 3, 2014

The Competition Commission of Pakistan is coming under fire for financial irregularities after an audit revealed questionable benefits paid by the regulator to its members, reports say.

Federal auditors have found that the CCP paid thousands of dollars in irregular benefits to its members; the auditors are now recommending that CCP officials responsible for the misuse of funds be brought to justice by the Pakistani government.

The audit, which reviewed the CCP’s finances for the fiscal year 2012-2013, also found that the CCP hired staff in violation of its rules, though reports did not elaborate on the specifics of the situation. Reports say the audit will be the topic of discussion by the Public Accounts Committee once it is officially filed with the National Assembly.

Full content: The Express Tribune

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.