Ministries, divisions asked to surrender anticipated savings

The Finance Division has directed all ministries and divisions as well as their attached departments (including programmes/projects/schemes) and subordinate offices and autonomous organisations to surrender the anticipated savings to the Finance Division at least 25 days before the presentation of the budget in the National Assembly.

An office memorandum, while refereeing to the Public Finance Management Act, 2019 on the subject, has directed the ministries and divisions to surrender anticipated savings.

All Principal Accounting Officers (PAOs) have been asked to ensure that the anticipated savings are surrendered as soon as such saving are foreseen but no later than 30th April of each year in any case; the surrender would be communicated on prescribed format; and that the PAOs concerned shall, include in next financial year budget, a requisite demand, if funds are needed against such surrendered savings.

The Finance Division budget wing would issue acknowledgement to concerned office; and it would enter the surrender in the SAP Enterprise Resource Planning (ERP), thereby ensuring reduced the availability of funds to the entity concerned.

The responsibilities of Accountant General of Pakistan Revenue (AGPR) would include; ensuring that the expenditure allowed remains/within updated budget/final grant; and this procedure shall not apply on Revolving Fund Accounts.