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.