ISLAMABAD: The audit report for 2024-25 highlighted that regulatory failures of the Pakistan Standards and Quality Control Authority (PSQCA) were not only posing public safety risks but also causing losses of over Rs72 billion to the national exchequer.

The audit report pointed out that PSQCA had unauthorisedly transferred vehicles to the Ministry of Science and Technology, including Toyota Corolla, Toyota Hilux double cabin and Toyota Land Cruiser, for use at the minister’s office.

The audit objection highlighted that PSQCA incu­rred losses due to non-imposition of late payment char­ges on account of delayed payment of marking fees amounting to Rs59.54bn.

Audit observed that licensees failed to pay the marking fee within the due date, and the PSQCAm anagement neither imposed nor recovered late payment charges at the rate of 3 per cent of the prevailing annual rate.

The audit further highlighted PSQCA’s maintenance of 45 non-essential bank accounts and the non-deposit of their closing balances amounting to Rs3bn into the Federal Consolidated Fund, in violation of rules.

Another para concerned the non-withdrawal of investment funds from the National Bank of Pakistan despite maturity, amounting to Rs7.31bn. The audit observed that although the investment matured on Jan 25, 2025, the management did not withdraw the principal or accrued profit, resulting in loss of potential earnings.

Published in Dawn, July 5th, 2026