Pakistan, Sept. 27 -- An audit report has flagged financial irregularities amounting to Rs 18.78 billion in the Hydel Development Fund of the Khyber Pakhtunkhwa government, including an alleged loss of more than Rs5.79 billion to the provincial exchequer.

The audit report identified several financial and administrative irregularities in the management and utilisation of the fund.

According to the report, more than Rs13.14 billion was transferred to the Pakhtunkhwa Energy Development Organization (PEDO) without approval from the cabinet committee.

The audit also noted that profits amounting to Rs5.48 billion generated from hydel projects were not deposited into the provincial treasury. It further pointed out that Rs4.30 billion remained...