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FeaturesPresident’s Fund too to the gnome!

President’s Fund too to the gnome!

A sum of Rs. 1057173093/= from the President’s fund that has been established to donate to various public welfare including surgery for heart patients has been misappropriated. This is revealed in the report for 2009 released by the Auditor General.
The information required for auditing has been made available to the Auditor General on 28.12.2010 and the Auditor General has released his report on 31st January, 2011. According to the report misappropriation of the sum of Rs.1057173093/= has occurred in the following manner:

· Rs. 11530940 has been paid without 13 vouchers regarding medical assistance

· Rs. 2081500/= has been paid without 11 files regarding medical assistance

· The money spent without a corporate plan for 2009 is Rs. 678904489/=

· The money given to National Housing Development Authority on 15% interest in 1996 is Rs. 1950000000/= This has not been recovered. The interest due for this deal is Rs. 169656164/=

The audit report states that President’s Fund received Rs. 751676436/= from Development Lottery in 2009. However, the 2010 annual report of the Lotteries Board states that the amount it has given to all funds including the President’s fund is Rs. 735001000/=

It is not very long that the President’s Fund would be gobbled up by a gnome due to these contradictory statistics and fraudulent spending.

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