KP govt lifts ban on interdepartment fund transfers 

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has decided to lift the ban on the transfer of funds from slow spending provincial departments to departments which are more efficient.
According to the details, the provincial government has decided that departments
with a slow rate of spending will have their funds deducted, which will be transferred to departments which are efficient in spending.
In this regard, sources in the Planning and Development (P&D) department told Profit that the provincial government had banned the transfer of funds from one department to another and from one project to another within the same department.
However, due to this ban, most of the funds could not be utilised while the financial year is near its end. Therefore, the planning and development department has reverted to the old method to ensure the speedy utilisation of uplift funds.
According to sources, the P&D has sought details from the departments which have used more funds, on the basis of which the funds will be withdrawn from under performing departments and transferred to the former.
Similarly, the ban on the transfer of funds from one project to another within departments will also be lifted, after which any department will be able to transfer funds from one of its slow-moving projects to a fast-moving project. However, the department will have to seek permission from the P&D department.

It may be mentioned here that the ban may result in the non-utilisation of more than 35 per cent of development funds.
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

NPMC meeting chaired by Tarin

Federal Minister for Finance and Revenue Shaukat Tarin presided over the meeting of the National Price Monitoring Committee (NPMC). Economic adviser finance division briefed the...