Surge in public debt: 13-member Inquiry Commission notified

ISLAMABAD: The government Friday notified the Inquiry Commission that will probe reasons for a surge in public debt from Rs6,690 billion in 2008 to Rs30,846 billion till September 2018 and fix responsibility. Hussain Asghar heads the commission comprising 12 other members.

A notification issued by the Cabinet Division said the federal government was pleased to constitute a commission of inquiry under Section 3 of Pakistan Commission of Inquiry Act 2017. The commission shall comprise Chairman Hussain Asghar, retired PSP officer BS-22, currently serving as Deputy Chairman NAB and other members including representative of NAB, FIA, Intelligence Bureau (IB), ISI, SBP, SECP, FBR,AGPR, Accountant General of Pakistan, Military Intelligence (MI) and Special Secretary Finance Division.

The commission shall be further empowered to co-opt/engage any person from the public or private sector, locally and abroad as a member, consultant or advisor for assistance.

The Terms of Reference of the Commission of Inquiry shall be the following,

a. Determination of significance of major infrastructure or public sector development works conducted from the years 2008 to 2018, and commensurate them with the increase in public debt from Rs6,690 billion in 2008 to Rs30,846 billion till September 2018.

B. To inquire/investigate about the award or implementation of any contract/agreement or project and whether any debt was taken for a particular project/undertaking and the same was then spent/expended on the corresponding project/undertaking or otherwise?

C. Whether the terms and conditions of any public contract were tainted or benevolent or artificially inflated to facilitate any kick-backs? If so in whose favor?

D. Whether any holders of public office or their spouses, children and any persons connected to them expended any public funds so as to meet personal or private expenditures, beyond what has been permitted under the law and rules?

E. Whether the cap prescribed under the Fiscal Responsibility and Debt Limitation Act, 2005 (hereafter: "the 2005 Act") has been busted? If so, the reasons and justifications thereof?

F. Whether the amendments, if any, in the 2005 Act were in keeping with the spirit of Article 166 of the Constitution, or, otherwise? G. Forensic and special audits be conducted through any reputed international or local auditor or set of auditors in order to determine the real nature, scope, volume, cost and trail of the investments or expenditures of the Federal Government (or any part thereof) from February 2008 to September 2018.

H. To fix responsibility in respect of the above and to refer any irregularity or illegality found for investigation and prosecution to relevant agency/department.

An appropriate budget shall be sanctioned, which the Commission shall be entitled to utilize and spend in its discretion so as to meet the expenditure of the Commission. The Commission shall give its final report within 6 months of its formation, with periodical interim reports on monthly basis. The time limit mentioned above may, however, be extended with the prior approval of the Prime Minister.