House panel starts probe into financial anomalies in security printing press

, January 6

The Public Accounts Committee (PAC) of the Parliament has started a probe into possible anomalies in the process of establishing security press and procurement of necessary machinery and equipment.

The House panel started the probe following complaints registered at the committee that billions of rupees have been embezzled in the process of establishing security printing press and procuring necessary equipment and machinery.

PAC today held discussions with experts on security printing press where they suspected financial embezzlement of up to Rs nine billion in the entire process of establishing the security printing press.

“Security printing is a highly sensitive issue and directly associated with the country’s . However, the government is seen preparing to purchase low-quality security printing technology at a higher ,” said Bijaya Babu Mishra, an on security printing.

“The government is preparing to bring in security press worth Rs 35 billion as per government-to-government modality from and .

As we suspect anomalies worth up to Rs nine billion in the entire process, we expect an immediate and effective probe on this issue from the House committee,” said Mishra.

As per him, a high-tech security printing press costs a maximum of $200 million while the government is preparing to invest $300 million for the security printing press of a similar nature.

Read the full news article on The Himalayan Times.

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