FGEHF rebuts the news items appearing in different newspapers regarding irregularities in housing schemes pointed out in the Audit report for the year 2015.
It is pertinent to mention that FGEHF is a company registered with Securities and Exchange Commission of Pakistan (SECP), audit of which has to be carried out by a certified Chartered Accountant as per Memorandum and Articles of Association.
However, to introduce more transparency, the Auditor General Office has been requested to carry out routine audit of the FGEHF accounts, though not strictly mandatory as per SECP regulations.
However, after conclusion of audit for the year 2015, the Audit Authorities were required convey / discuss audit observations not only with FGHEF authorities but also in the Departmental Accounts Committee (DAC) headed by Secretary Housing & Works as Principle Accounting Officer. Unfortunately, DAC for aforementioned audit report was also not held / conducted by the audit authorities.
Nonetheless, with regards to issuance of consent letters to the Superior Courts, Media and Ministry of Housing & Works (H&W), allegedly in violation of Prime Minister’s directions, it is to be clarified that FGEHF has issued consent letters to registered members on principle of “Age wise seniority”, strictly in the light of approved quotas and eligibility criteria duly approved by the FGEHF’s Executive Committee and the Prime Minister of Pakistan.