The three-year Public Financial Management (PFM) reform strategy (2017-20) has been accepted by the Khyber Pakhtunkhwa (KP) cabinet which visualises a comprehensive roadmap for reforms aimed at budget transparency, improved systems and governance.
This reform strategy is the first of its kind in the province and was initiated by the KP Finance Department in consultation with stakeholders. The DFID funded Sub-National Governance Programme (SNG) provided technical support in the formulation of the strategy.
The underlined six objectives of this strategy involve policy-based planning and budgeting; comprehensive, transparent and credible budget; improved predictability and control in budget execution and accountability.
PFM foresees an institutional platform-oversight committee to be presided by the finance minister with the sole objective of overseeing implementation of reforms under the ambit of the PFM strategy.
There is an intense focus on bringing change which aima at greater transparency, accountability and openness in the public sector governance. It is the core agenda of ensuring equitable development, improved service delivery and a corruption-free government system, stated KP Finance Minister Muzaffar Said.
This new strategy also consolidates on the accumulated gains of the integrated PFM reform strategy adopted by the incumbent government in the year 2010. The strategy is in line with the ongoing accountability and transparency regime, devolution reforms of the present government, Local Government Act 2013 and 18th constitutional amendment of the Federal Government enacted in 2010.
Muzaffar Said stated that this strategy aims at reinforcing key public financial management structures and processes. The govt has incorporated strong system for ensuring equitable resource allocation, transparent and efficient budget execution and fiduciary risk mitigation for well-being of the citizens.
