Financial Attest Audlit Report on the Accounts of
National Immtunization Support Project (NISP)
Ministry of National Healthi Serv.ices, Regulations and
Coordination
(IDA Credlit No.5786-PAK)
For the Financial Year 2017-18
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Aiditor General of   t Pakistan slamab ad
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TABLE OF CONTENTS
LIST       OF     A  BBREV          IATIONS            ...................................................................................................
PR    EF ACE         ................................................................................................................................. ii
P A   R  T  -1I.......................... 1............................         ......................   .....................-     ..................................      1
PROJECT             OV     ERVIE W            .................................................... ...................................................... 2
A   U  DITOR          S   REPORT             TO      TI      M   A   NAG       EM     E NT................................................................ 3
FINAN         CIA      L  STATEMEN                TS     ................................................................................................. 4
P  A  R  T  -11  ...................................... 1..................................... 1.            ................ .....................................      5
CO     VLRING            L        T 1i iE  R  'lTO T liI     ' M A NAGEM           ENT        E   TTER         ..............................................I'l         6
EXECUTIV              E   SUMM          AR       ...................................................................................................... 7
M   ANAG         EM      ENT       LETTER            ...............     .....................................                 ..........................      ..... 8
1. INTRODUCTION                        .............................................................................................................                     9
2. AUIDIT          OBJECTIVE                  ........................................................................................................ 10
3. AUD          SCOPE          AND         M1ET3H11        DO     LOG       Y   ................................... ...................................... 10
4. AUD            I     ND     INGS        A  N   ID  R1ECO        M   M      N  DATION            S  ......................................................... 10
4.1        Organization             and     M    anagement ................................................................................ 10
1,4.2     linancial M           anagem         ent ...................................................................,.......,................. Il
4.3        M   onitoring         and     Evauation.........               ..................................          .    .................................12
4.4        Sustainability.................................................................................................                                 .... 12
4.5        Overall Assessm                 ent..................................................................................................13
5. CONCLUSIO                   N                                                                                                                                           13................................................................................................................. 13
ACKNO            W      EDG       ENIENT          ...................................................................................................... 14
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LIST OF ABBREVIATIONS
AGP               Auditor General of Pakistan
ECNEC             Executive Committee of the National conomie Council
EP1I              Expanded Program on Iimmunization
FY                Financial Year
FSs               Financial Statements
[DA               International Development Agency
[[SAS             International Public Sector Accounting Standards
ISSAls            International Standards of Supreme Audit Institutions
MONISR&C          Ministrv ol' National l lealth Services. Regulations and Coordination
N 1SIP            National lmimniiizaiion Support Project
N BP              National Bank of lPak istan
FSC               Federal Steering Cominhttec
SBl               State Bank of Pakistan
VPDl)             Vaccine Preventable deceases
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PREFACE
Auditor General of Pakistan conducts audits subject to the Articles 169 and 170(2) of the
Constitution of Islamic Republic of Pakistan, 1973 read with Sections 8 and 12 of the Auditor-
General's (Functions, Powers and Terms and Conditions of Service) Ordinance, 2001. The audit of
"National Immunization Support Project (NISP) under Ministry of National Health Services,
i         Regulations and Coordination (MONHSR&C) was carried out accordingly.
Directorate General Audit (Federal Government) conducted audit of the project during October,
2018 for the period 2017-18 with a view to report significant findings to stakeholders. Audit
examined the economy, efficiency, and effectiveness aspects of the project. In addition, Audit also
assessed, on test check basis, whether the management complied with applicable laws, rules and
regulations in managing the project. The Audit Report indicates specific actions that, if taken, will
help the management to realize the objectives of the project.
The report consists of two parts. Part-I contains Auditors Report (Audit Opinion) and Financial
Statements, while Part-Il contains Executive Summary, Management Letter and Audit Findings.
The report has been prepared for submission to the World Bank in terms of IDA Credit No. 5786 -
PAK with the Government of the Islamic Republic of Pakistan.
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Dated: 10.12.2018                             '(MAQBOOL         MAD GONDAL)
Place: Islamabad                                       DIRE    R GENERAL
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Pa rt- I
1. PROJECT OVERVIEW
2. AUDITOR'S REPORT TO THE MANAGEMENT (Audit Opinion)
3. FINANCIAL STATEMENTS
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PROJ1 ECT OVERVIEWNV
Name:                         National lmmunization Support Project (NISP)
Sponsoring Agency:            World Bank
Executing Agency:             Federal EP Cell. lie Departments of Ieali of the Provinces
Loan No:                      5786-PAK
PC-I cosi:                    Federal EPI Sharc-  Rs. 3.746.981 million
LProvincial Share-  Rs.25,568.985 million
FEC share -       Rs. 8.328.706 million
Total             Rs.37.644.682 million
Date of ('ommencement:        1 .07.2015
Actual D)at of Commencement:  01.09.2016
Date of Completion (as per PC-l):  30.06.2020
Date ofapproval by ECNEC:     08.03.2016
f'tilizaton Status in  Y  2017-18:  Rs.297.557 mil11011
Progressive E £xpenditure upto last  Nil
FY:
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AUDITOR'S REPORT TO THE MANAGEMENT (Audit Opinion)
Mr. Zahid Saeed
Secretary
Ministry of National Health Services, Regulations and Coordination
Islamabad
Auditor's Report on the National Immunization Support Project (NISP) Financial Statements
We have audited the accompanying Financial Statements of National Immunization Support Project
L          (NISP), IDA Credit No.5786-PAK, Ministry of National Health Services, Regulations and
Coordination, Islamabad that comprises Statements of Receipts and Payments for the year ended
June 30, 2018.
Management Responsibility
It is the responsibility of the project management to establish and maintain a system of internal
16         controls, and prepare and present the Statement of Receipts and Payments in conformity with the
requirements of Cash Basis IPSAS, Financial Reporting under the Cash Basis of Accounting
Standard (CBAS).
Auditor's Responsibility
The responsibility of the Auditor is to express an opinion on the financial statements based on the
audit conducted. We conducted audit in accordance with the International Standards of Supreme
Audit Institutions (ISSAIs). These standards require that we plan and perform the audit to obtain
L          reasonable assurance about whether the financial statements are free of material misstatements. The
audit process includes examining, on a test basis, evidence supporting the amounts and disclosures
3          in the financial statements. It also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall statement presentation. We
believe that our audit provide a reasonable basis for our audit opinion.
L       Opinion
In our opinion:
a)    The financial statements present fairly, in all material respects, the cash receipts and
payments made by the project for the year ended June 30, 2018 in accordance with Cash Basis
I         IPSAS, Financial Reporting under the Cash Basis of Accounting Standard.
b)    The expenditure has been incurred in accordance with the requirements of legal agreements.
aqbool Ahm    Gondal)
Director Gener
Directorate General Audit (Federal Government)
Benevolent Fund Building, Zero Point, Islamabad
Dated:    Io.12.2018
31Page


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FINANCIAL STATEMENTS
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National Immunization Support Project (NISP)
Statement of Cash Receipts and Payments
under IDA Credit No. 57860-Pak (Assignment Account No.4139031239)
For the Period from July 1, 2017 to June 30, 2018
(PKR "in Million")
2018                          2017
Receipts I        Payments by  Receipts         Payments by
Payments          Third Parties Payments        Third Parties
controlled by                 controlled by
the Project                   the Project
Note
RECEIPTS
Funds received/ paid directly by the World Bank                                270.296               -
Advance- received by Project                            8                        -               523.800       -
Reimbursement - received by provinces                   9                        - 
TOTAL RECEIPTS                                                                  270.296          523.800
PAYMENTS
Program Related Payments:                              10               -      270.296               -
Incremental Operating Cost                             11           12.859
Consultants Services                                   12           14.402
Other Eligible Payment                                 13              -        2
2721  270.296-
Operation Related Payments:
Adverlisement and Publicity                                             -        -
TOTAL PAYMENTS                                                      27.261     270.296
NET RECEIPTI (PAYMENT) OF PROJECT FUND                               2L261)         -             523800
INCREASE / (DECREASE) IN CASH                                        (27,261)                     523.800      -
CASH AT BEGINNING OF THE YEAR                                       523800 
CASH AT END OF THE YEAR                                14           496.539                       523.800      -
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The annexed notes I lo 20 form an integral part ofthese financial statements
Financial       agement Specialist                         Nation      rogramme Manager
(Federal)- NISP                                                      (EPI/ NISP)
ZULFIQAR ALI
FINANCIAL MANAGEMENT SPECIALIST                                                                                 P. a am
Expanded Programme on Immunization R SY                               SM
ilo NOSR&C,Govemmenlt of Pakistan,                               Nat0na Prigfam    e
Natinamabadam                                            Manager            Ad W  i O f'r- e
Federai EApanded Program on     D.G. Audit (F Gov)
lmmuniz8lion M1o NHORC, Islamabad        llilr0
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National Immunization Support Project (NISP)
Statement of Expenditure
For the Period from July 1, 2017 to June 30, 2018
2018                 2017
Note    PKR "in Million"     PKR "in Million"
EXPENDITURE
Incremental Operating Cost                    11              12.859
Consulting Services                           12              14.402
27.261                   -
The annexed notes I to 20 form an integral part of these financial statements.
50"
Financial      agement Specialist             National     rogramme Manager
(Federal) - NISP                                (EPI/ NISP)
ZULFIQAR ALI
FINANCIAL MANAGEMENT SPECIALIST
Expanded Programme on Inmitunization
MWo NHSR&C,Government of Pakistan,             DR. SYED SAQLANAMDGLN
ftsfaPaa                                National Programe Manager
Federal Expanded Program on
immunizatiOn M/ NHSR&C, Islamabad


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L
National Immunization Support Project (NISP)
Notes to the Financial Statements
L    For the Periodftom July 1, 2017 to June 30, 2018
!W         I REPORTING ENTITV
L           The financial statements are for'National Immunization Support Project'. These financial statements encompass the reporting
entity as defined in the Trust Fund Agreement between the Islamic republic of Pakistan (" Borrower") and International Development Association
("IDA"). This Grant Agreement was signed on 31-08-2016 for an amount of US $ 39,680,000. The project closing date is 31-12-2021,
L           The Executing Agency (EA) of the aforesaid project is'Ftdcral EPI Cell, MONHSRC'.
V           The objective of"National Immunization Support Project (NISP)' is to help the Government of Pakistan (Gap) by increasing the
L           equitable coverage of services for immunization against VPD, including poliomyelitis, for children between 0 and 23 months in Pakistan-
The project shall comprise:
I - Strengthening Management, Governance and Stewardship functions ("Component I
L           2- Improving Service Delivery Performance ("Component 2");
3- Demand Generation ("Component 3") ,
4- Vaccine Supply Chain ("Component 4")
L           5- Improving Capacity for increased immunization coverage ("Component 5");
fim         Financing
L           The financing is made from the Multi donors Trust Funds under International Bank for Reconstruction and Development.
Responsible Agency
A primary responsibility for overall progress and management of the Multi Donors Trust Funds has been assigned to
'Federal EPI Cell, MONHSRC'.
2 CERTIFICATION BV PROJECT MANAGEMENT ON APPLICATION OF FUNDS
Federal EPI Cell, MONHSRC certifies that funds have not been applied/ expenditure have not been incurred
for the purposes intended in the loan agreement,
3 ACCOUNTING CONVENTION AND STATEMENT OF COMPLIANCE
These finwicial statements have been prepared in accordance with Cash Basis IPSAS Financial Reporting under the Cash Basis of
Accounting.
These cash basis accounting recognizes transactions and events only, when cash is received or paid by the entity,
4 REPORTING PERIOD
L           The reporting period of these financial statements is the financial period commencing from July I , 2017 to June 30, 2018,
5 REPORTING CURRENCV
Im          The reporting currency of these financial statements is PKR which is Execming Agency's (Federal EPI Cell, M0NHSRQ
functional and presentational currency.
L         6 SIGNIFICANT ACCOUNTING POLICIES
6.1 Revenue recognition
Revenue is recognized on the date of receipt of money by bank or clearance of cheque. Revenue is recognized on gross basis and
any related costs are recorded separately.
6.2 Foreign Currency Transaction
Cash receipts and payments arising from transactions in foreign currenci I es are recognized in PKR by applying to the foreign
currency amount, the weighted average exchange rate between the PKR and the US Dollar, For disbursements (payments), the
rate of the first tranche would be utilized and likewise, 'First In First Out'would be the basis for convertion in subsequent payment
transactions,
However, cash balances held in foreign currency is reported using the closing rate.
6.3 Rteognition of Expenditure
Expend itute i s recogn ize d on the date whe n paymen t i s made or cheque is issued. F inan c ial year to wh ich the payments pertain is
L           determined by the date on which a cheque or payment advice is issued.
6.4 Employte Terminal Benefits
Service benerms of deputation employees are accounted for in their respective departments while no service terminal
L          benefits are paid to the contractual employees.
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National Immunization Support Project (NISP)
N Notes to the Financial Statements
For the Periodfrom July 1, 2017 to June 30, 2018
6.5 Payments by Third Parties
6.5.1 The payments made by third parties do not constitute cash receipts or payments controlled by the project but do benefit the Project
as the Project does not receive cash (including cash equivalents) directly from, or gain control of the bank accounts or similar
facility established for its benefit by, the third parties. Payments by third parties, if any, are disclosed in the Payments by Third
Parties column on the face of Statement of Cash Receipts and Payments and Notes to the Financial Statements.
6.5.2 In pursuance of the Agreement, Payment of US$ 2442 M equivalent to PKR 270.296 M was made to UNICEF
directly by the World Bank for procurement of Cold Chains.
6.6 External Assistance
External assistance was received in the form of Loan and Grant bearing reference IDA Loan No. "5786-PK" and lBRD Grant
No.TF A2189 Pak from the world bank under Financing Agreements dated 31st August, 2016 for the purpose of "National Immunization
Support Project". The following amounts were received by the project during the period.
2018               2017
PKR                PKR
Note        jin Millie          in Million
Reimbursement                           6.6.1                0                  a
Advance for Imprest Fund                 6.6.2            -               523.800
I-                                                                                    523.800
6.6.1  This represents funds transferred to the Projects designated Bank Account by the world bank on the
basis of Withdrawal Applications submitted by the Project Management. Presently, the reimbursement is zero.
6.6.2  This represents the world Bank's advance disbursement from the Grant amount for deposit to an imprest Account to be used exclusively for
the Multi Donors Trust Funds for eligible expenditures.
6.6.3  Disbursement Procedures such as 'Direct Payment' and 'Commitment' are not used for funds transferred to the project,
6.6.4  There has been no instance of non-compliance with the terms and conditions of the loan and project agreements between the world bank
and GoP, which have resulted in cancellation of loan.
6.7 Undrawn External Assistance
Undrawn balance of loan at reporting date represents amount specified in the loan agreement between the world bank and GoP that the
the world bank will disburse for Project purposes.
USD               PKR
Note     in Million        in Million        us S
.Closing halance                              6.8          2980            3,116.400 PKR.105.0
29.680          3.116.400
N       6.8 Closing Balance of IDA Credit US $ 40.000 Million (against total committed US$50.00 M) is converted @PKR 105 per US $
fo r rep orti ng pu rpose.
7 COUNTERPART FUNDS
Government of Pakistan (GoP)              7.1         1581.200         29,315.975 as provided in PC-1
3                                                                 1610.880         15.089.525
7.1 GOP funding to the Project is US $ 1581.200 million as per Project Appraisal Document (PAD) equivalent to PKR 29,315.976 million
asper approved PC-1.
8 Advance of US$ 5.00 M equivalent to Rs.523.800M was received on 10th May 2017 through Withdrawal Application to operate US Dollar Revolving
Fund / Assignment Account under Grant No.TF A 2189-Pak during FY 2016-17. The same is credited in the Projects designated account.
9 This receipt is to be received by provinces under Eligible Expenditure. Presently there is zero reimbursement.
10 This reflects program related eligible expenditure. Presently, it is zero expense,
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National Immunization Support Project (NISP)
Notes to the Financial Statements
For the Period from July 1, 2017 to June 30, 2018
2018          2017
PKR           PKR
Note                                 in Million    in Million
S11 Incremental Operating Cost
Expenditure related to support capacity building activities in areas of
financial management, procurement, environment and social etc.          12.859
12 Consultants Services                                                    14.402
L    13 Other Eligible Payment
27.261         -
2018        2017
14 CASH AND BANK / CASH AT THE END OF THE YEAR                       in Million    in Million
Cash at Bank                                                          496.596      523.800
496.596     523.800
14.1 This account is being maintained in National Bank of Pakistan and designated for the world bank
funded project "National Immunization Support Project (NISP)".
I        15 EXCHANGE GAIN/ LOSS
The rate of exchange applied by the State Bank of Pakistan (SLIP) for converting foreign currency into PKR for that tranche
at the time of receipt of funds in the SBP from the donor. In case of more than one tranches, the rate applied for each
I          tranche will be used for project reporting purposes and funds received in the first tranche will be utilized first and the
utilized balance shall be attributed to the last tranche.
Therefore by adopting the aforesaid policy; being issued by the Finance Division, GoP; it does not result any exchange
gain/ loss.
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National Immunization Support Project (NISP)
Notes to the Financial Statements
For the Period from July 1, 2017 to June 30, 2018
2018          2017
PKR           PKR
Note                                 in Million    in Million
*     11 Incremental Operating Cost
Expenditure related to support capacity building activities in areas of
financial management, procurement, environment and social etc.          12,859
12 Consultants Services                                                    14.402
13 Other Eligible Payment
27.261         -
2018        2017
14 CASH AND BANK / CASH AT THE END OF THE YEAR                       in Million    in Million
Cash at Bank                                                          496.596     523.800
496.596     523.800
14.1 This account is being maintained in National Bank of Pakistan and designated for the world bank
funded project "National Immunization Support Project (NISP)".
15 EXCHANGE GAIN/ LOSS
The rate of exchange applied by the State Bank of Pakistan (SBP) for converting foreign currency into PKR for that tranche
at the time of receipt of funds in the SBP from the donor. In case of more than one tranches, the rate applied for each
tranche will be used for project reporting purposes and funds received in the first tranche will be utilized first and the
utilized balance shall be attributed to the last tranche.
Therefore by adopting the aforesaid policy; being issued by the Finance Division, GoP; it does not result any exchange
gain/ loss.


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National Immunization Support Project (NISP)
Notes to the Financial Statements
For the Period from July 1, 2017 to June 30, 2018
2018
USD            PKR
16 PROJECT COST- MOVEMENT                                          Note                       in Million     lin Million
Total Committed Loan by the world bank's share in total Project            161                      50.000     5,250.000
Total IDA Trust Funds                                                      162                      79.600     8,358.000
GoP share in total Project Cost- PKR as reflected
in approved cost of PC-I                                                   16.3                  1,581.200    29,315.976
Total Project Cost- 'C=(A+B)'                                                                    1,710.800    42,923.976
Loan instalment received directly by Provinces- 'D'                                                  5,000      5231800
Total payments by Project-'E*                                                                       7.442       653.070
Cash at bank- F'                                                             17                      4740      523.800
Loan instalments received by the Project- 'G=(E+F)'                                                 12.182     1,176.870
3           Total withdrawals (loan instalments received)- 'H=(D+G)'                     8                      17.182   12700.670
Undrawn total Project proceeds- '=C-l'                                                          1,693.618    41,223306
Undrawn foreign loan proceeds- 'J=A-H'                                      6.7                     32.818    3,549.330
16.1 Total Committed Loan by the world bank under Loan No.5786 Pak is converted into PKR 105 per US $
16.2 Total IDA Trust Funds under Grant of TF A 2189 Pak is converted into PKR 105 per US S
16.3 GOP funding to the Project is US $ 1581.200 million as per Project Appraisal Document (PAD) equivalent to PKR 29,315.976 million
as per approved PC-1.
17 CASH AND BANK / CASH AT THE END OF THE YEAR                                      in Million
Cash at Bank on 30th June 2018                                                     496.596
496.596
18 CORRESPONDING FIGURES- COMPARATIVE FINANCIAL INFORMATION
Comparative financial information are not stated in these financial statements, as the receipts / payments took place in the
current financial period However, the Loan and ProJect Appraisal Agreements were signed
on 31st August 2016 and 17th March 2016 respectively,
19 AUTHORIZATION FOR ISSUE
These Financial Statements have been authorized for issue by National Programme Manager EPI/NISP on 14-09-2018.
20 GENERAL
20.1 Level of Precision
Figures in these Financial Statements have been rounded off to the nearest million of PKR, unless otherwise stated.
Financial        nagement Specialist                            Nation      Programme Manager
(Federal) - NISP                           (EPI /     ISP)
ZULFIQAR ALlIR                                             YDSQAI       HA     IA
FINANCIAL MANAGEMENT SPECIAUST                              DL                  MAD GILN
Expanded Programme on Immunization                              National rg     g
Mo NHSR&C,GovernMent of Pakistan,
sama                                                                              Federal Expanded Program on
Immuization M/o NHSR&C, Islamabad
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