Government will Release 20% of the Development Budget
During the first quarter of the current fiscal year 2021-22, the federal government will disburse 20% of the development budget for the projects.
According to the specifics, the Ministry of Planning, Development, and Special Initiatives will disburse 20% of the Development Budget for the first quarter, 30% for the second and third quarters, and 20% for the fourth quarter.
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The Finance Division shall limit or impose limitations on budget appropriation in accordance with Section 24 of the Public Finance Management Act, 2019 if actual expenditures in the first two quarters are less than 40% of the approved appropriation (July-December),
While executing development projects, the MoPD&SI shall guarantee compliance with the terms of Chapter III of the Public Finance Management Act, 2019.
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According to Rule 3(2) and Rule 3(3) of the Cash Management and Treasury Single Account Rules for 2020, no direct payments shall be made through the State Bank of Pakistan without the prior consent of the Finance Secretary.
All payments must be processed via the pre-audit system of the Accountant General Pakistan Revenues/Military Accountant General/Accounting Offices/Sub-Offices, or the Assan Assignment Account Procedure 2020 provided by the Finance Division.
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