LAHORE: To improve financial management at the administrative level, the Punjab government is introducing the Public Finance Management Act. “This will ensure medium-term financial planning based on comprehensiveness and revenue in the budgeting process.

Under the new law, a comprehensive policy will be introduced to improve the performance of public corporations and investment at the government level,” said Punjab Finance Minister Makhdoom Hashim Jawan Bakht while addressing a meeting of the Sub-National Governance Programme, held here on Tuesday to review the proposed Public Finance Management Act in Punjab.

Punjab Finance Secretary Iftikhar Amjad, Additional Secretary Salman Ghani and a team from the Sub-National Governance Programme were present in the meeting. The Minister further said that the finance department will ensure Schedule of New Expenditure (SNE) matters will be handled in parallel with the preparation of infrastructure for the prompt delivery of services under development plans.

Copyright Business Recorder, 2021