Irregularities of Rs300 billion were identified in Government of Punjab's financial dealings for the year 2015-16, according to the Auditor General of Pakistan's (AGP) audit report on the accounts of the Government of Punjab.

The report, a copy of which is available with DawnNews, is titled "Audit report on the Accounts of Government of Punjab Audit Year 2016-17" but pertains to the fiscal year 2015-16.

The report says Rs287 billion worth of overall irregularities occurred due to inefficient budgetary/financial management. Of that figure, Rs27bn were excess payments made for the Lahore Orange Line Metro Project.

The AGP, in the report, states that Rs63.71bn were unduly retained for development funds, planned receipts were short by Rs35.29bn, whereas Rs5.07bn were lost due to non-investment in General Provident Investment Fund.

The report found that "weak financial management for issuance and utilization of supplementary grants" cost the provincial treasurer a loss of Rs103.96bn.

The report also pointed out that Punjab government failed to recover Rs5.47bn in electricity charges from autonomous bodies.

"Funds to the tune of Rs8.66bn were directly released to the State Bank of Pakistan in 26 cases for further credit to different agencies...without routing them through Accountant General Punjab for pre-audit," the report adds.