K-P govt has discovered Rs82 billion in different bank accounts held for projects under various departments
PESHAWAR: Across Pakistan a common thing among the provincial and local governments is the shortage of funds, generating losses and taking loans to finance the many development projects. Amid the usual loss generation of governments, recently the K-P government discovered a huge sum of Rs82 billion in different bank accounts held for projects under various government departments. The province’s finance secretary regarded the issue as a system failure however, what he did not address was if the sum being discovered shows that the amount allocated had not been spent by the respective departments, implying that the projects have remained pending over the period. Further, was there no coordination between the former and the latter who never bothered to inquire about the unavailability of funds from their government. Besides, when provincial governments run their own financial institutions in the form of banking units, allowing the departments to keep money in private monetary institutions seems irrational and impractical.
Ammara Mohsin
Published in The Express Tribune, November 12th, 2017.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.
