The National Audit Office discloses that Milko Pvt paid a total of Rs. 85,573,095 as bonuses to executive and non-executive officers in the years 2020, 2021, and 2022, contradicting circular documents preceding the audit of annual financial statements.
In 2020, against circular guidelines for 1350 officers, a bonus of Rs. 19,086,375 was paid at the rate of Rs. 15,000 per officer.
In 2021, on April 9th, an amount of Rs. 25,921,238 was paid at Rs. 20,000 each per officer, and on December 21st, Rs. 14,800,907 was paid at Rs. 11,657 each per officer.
Contrary to regulations, in 2022, on April 11th, a bonus of Rs. 13,044,888 was paid, and on December 23rd, Rs. 12,719,687 was paid.
Milko Pvt acknowledged deviating from government business circulars in bonus payments, citing decisions made by the board of directors. The audit report covers the years 2020, 2021, and 2022 regarding Milko’s transactions.