Autonomous bodies urged to open joint accounts in state-owned banks

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has directed all autonomous bodies in the province to close their bank accounts, urging them to open joint accounts in state-owned banks.

The government has clarified that all accounts must be laps-able by June 30, 2022, otherwise development projects funds will not be issued.

According to sources, the principal accounting officers of all administrative departments have been authorised to open accounts of their autonomous bodies so that  the government transfer funds for all development projects to the same account and in case of non-utilisation by June 30, the funds can be withdrawn.

Currently, several autonomous institutions transfer funds to their accounts instead of utilising them efficiently; however, the government is given the impression that the money is untilised due to which the KP finance department remains in the dark regarding the actual situation.

Article continues after this advertisement

According to sources, many autonomous institutions have billions of ‘untilised’ funds at present.

- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisement -

Must Read

Engro Fertilisers inaugurates first Engro Learning Centre to strengthen academia-industry linkage,...

KARACHI: Engro Fertilizers Limited, Pakistan’s premier seed-to-harvest solutions provider, has established and formally inaugurated a solar-powered Engro Learning Centre at the University of Agriculture...