DAGP DRIVE FOR TIMELY SUBMISSION OF AUDITED FINANCIAL STATEMENTS

                   DAGP DRIVE FOR TIMELY SUBMISSION OF AUDITED FINANCIAL STATEMENTS

            A rigorous initiative has been launched to strengthen fiscal accountability across the public sector. Since October 2025, a dedicated compliance drive has focused on state-owned enterprises that have repeatedly failed to finalize annual financial statements, a recurring shortcoming previously highlighted in audit reports submitted to Parliament.

2.        Financial transparency is regarded as a fundamental pillar of good governance. By failing to complete these reports, certain entities have neglected their statutory obligations under the State-Owned Enterprises Act, 2023 and the Companies Act, 2017. To rectify these lapses, coordination is being maintained with federal ministries to ensure that all organizations under their administrative oversight fulfill their reporting responsibilities promptly.

3.       To identify persistent non-compliance, comprehensive filing data was analyzed in collaboration with SECP. Following this assessment, show-cause notices were issued to entities that failed to conduct the necessary audits.

4.      The scope of this campaign has since been expanded to the provincial level, where provincial authorities were alerted to the failure of major development bodies to submit their required financial statements.

5.        The mandate is now being enforced across public universities and autonomous institutions, reinforcing the principle that all public sector bodies must operate within the prescribed legal framework.

6.     Audited financial statements are viewed not as a regulatory formality, but as an essential requirement for public accountability and responsible fiscal management. This ongoing commitment is being upheld to ensure that every entity mandated to report its finances remains fully compliant.