ISLAMABAD – The Auditor General of Pakistan (AGP) told the Public AccountsCommittee of the Parliament on Monday that Islamabad International Airportproject had a cost overrun of Rs 68.911 billion that was 186.25 percentmore than the initial cost.
The Auditor General in a presentation on Islamabad International Airportproject of Civil Aviation Authority said that according to PC-1 in March2008 the cost was projected at Rs 37 billion.
In the first revised PC-1 in April 2014, the cost escalated to Rs 81.171billion and in the second revised PC-1 in March 2018, the cost rose to Rs105.911 billion.
The initial time for completion of the project was 30 months and it was tobe completed by September 2010.
Up to October 2018, the expenditure went upto Rs 85,554 billion and thephysical progress of the project was upto Rs 99.05 percent. The project wasdelayed by 8 years.
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According to the key audit findings in the audit reports 2010-18,unauthorized change of joint venture and payment of Rs 7811.33 million wasmade and there was irregular award of work at higher rates of Rs 5990.13million. Procurement of imported equipment from other than authorizedmanufacturers for Rs 6509.716 million was also made and there was anirregular award of contract on negotiation basis for Rs 4503.985 million.
According to the audit paras, unwarranted payments due to decisions of “TheEngineer” for Rs 4,083.81 million were made besides irregular award ofworks to ineligible contractors for Rs 2212.061 million.
