PFM Act will be implemented this year: Jhagra

PESHAWAR    –   KP Minister Finance, Taimur Khan Jhagra on Saturday said that Public Financial Management Act is aimed at improving officials’ performance in public fi­nancial management, budgeting, accounting and auditing sectors.

In a statement, he said that Khyber Pakhtunkh­wa continues on the most inspirational reform journey in the country. He said that new Public Financial Management Act is ready and will be law by this year’s budget, adding it will be the best of its kind in the country.

He said that PFM Act will not just codify exist­ing budget procedures into law.

The Act will improve budgeting, financial management and trans­parency, and be bold and innovative at the same time, he added.

The finance minis­ter said the officials in the government sectors would have to work hard to increase their com­petence in the financial management matters to improve the level of good governance and elimi­nate corruption.

He said the KP gov­ernment was utiliz­ing all available re­sources to ensure transparency in finan­cial matters and undoing corrupt practices.

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