ISLAMABAD: The government has reconstituted Cash Management Working Group (CMWG) and Cash Management and Forecasting Unit (CM&FU) with revised terms of references (ToRs).
The Finance Division, Budget Wing (Borrowing Section), issued a notification, which stated that by superseding Budget Wing’s notification dated 26th November 2019 and 8th December 2O22, the Cash Management Working Group (CMWG) is reconstituted with revised TORs as follows: Joint Secretary, Finance Division (Convener), Chief Operations, Federal Board of Revenue, Chief Operations (Customs), Federal Board of Revenue, Director Domestic Debt, Debt Management Office, Finance Division, Risk Assessment Expert, Debt Management Office, Finance Division, Assistant Director, Finance Department, SBP Representatives of EF, CF and PF Wings, Finance Division Representative of Economic Affairs Division) Deputy Secretary (NTR), Budget Wing, Finance Division Deputy Secretary (TCM), Budget Wing, Finance Division (Secretary) Director (Budget Computerization), Budget Wing, Finance Division Joint Director (PDM), Central Directorate of National Savings Cash Forecasting Specialist, Budget Wing, Finance Division Assist Accounts officer (Borrowing), Budget wing, Finance Division, any other member co-opted on need basis.
Terms of Reference for the CMWG are: Collect, compile, update and maintain comprehensive record of the Government’s cash balances, forecast cash requirements for upcoming three months on a rolling basis, analyse performance of cash flow forecasts by comparison of forecasted and actual figures to identify challenges, shortcomings and variances, and recommend actionable improvements for enhanced accuracy, assess and recommend adjustments to borrowing requirements as per changing scenarios, coordinate with FBR and large spending/ collecting units to ensure timely preparation of cash flow information, provide guidance and training to key ministries and agencies to enhance capacity and prepare and submit recommendations to the CM&FU.
Further, the following CM&FU is constituted with ToRs as follows: Additional Secretary Budget, Finance Division (Convener), Joint Secretary, Finance Division (Secretary), Director (Debt), Debt Management Office, Finance Division, Deputy Director, Finance Department State Bank of Pakistan, Deputy Secretary (TCM), Finance Division, Assistant Accounts Officer (Borrowing), Finance Division.
Terms of reference for the CM&FU are as under; supervise and monitor the working of CMWP to ensure efficient cash management and forecasting ensure availability of sufficient cash buffer for meeting payment obligations in a timely manner facilitate data sharing to enhance accuracy and reliability of cash forecasts Undertake periodic reviews to improve cash management and forecasting provide guidance and training to stakeholders for capacity enhancement.
Copyright Business Recorder, 2025
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