Finance minister urges austerity measures
Minister says every government department needs to carry out a comprehensive audit and review of its financial health
PHOTO: STOCK IMAGE
LAHORE:
Punjab Minister for Finance Makhdum Hashim Jawan Bakht has said all provincial departments need to take a closer look at their finances.
“Every government department needs to carry out a comprehensive audit and review of its financial health.”
While chairing the austerity committee meeting here on Saturday, the minister said various workshops and training sessions were being planned for finance related capacity-building of almost all government departments. He underscored that there was a dire need to cut down expenses to lessen the burden on the country’s economy.
Bakht said every option and avenue, like the review of state owned land and its usage, would be explored to curtail expenditures and generate required resources.
Provincial Finance Secretary Sheikh Hamid Yaqoob also briefed meeting participants that Prime Minister Imran Khan had initiated an austerity drive to reduce unnecessary expenditure out of public money in order to get the best value of public money. He highlighted that the prime minister had taken lead and imposed restrictions on discretionary grants, luxury vehicles, protocol and unnecessary staff.
In the same manner, the government of the Punjab shall adopt an austerity policy to reduce the current and development budget.
He told members of the austerity committee that the Finance Department earlier issued measures for FY 2018-19 after getting approval from the caretaker government.
According to these measures, all administrative departments, including autonomous bodies, attached departments, local governments, authorities, public sector companies and special institutes, shall remain within the budgetary allocation to minimise incidences of supplementary grants.
The request for supplementary grants, if unavoidable, shall require approval of the provincial cabinet or standing committee on finance and development.
He said there shall be a complete ban on foreign visits of ministers, MPAs and government officers/officials through government funding. The case for foreign visits shall be placed in the austerity committee for consideration and subsequent approval of the chief minister through the submission of a summary.
He further said there shall be a complete ban on treatment abroad at government expense. “New vehicles would not be bought except buses for educational institutes and ambulances which may be purchased after taking approval from the chief minister. “
No discretionary funds will be granted for the renovation of official residences. Approval will be sought from austerity committee before buying durable goods. Strict compliance of aforesaid austerity measures shall be ensured by all concerned.
The committee members expressed their confidence in the austerity measures and also contributed towards the suggestions for upcoming challenges. The meeting was attended by the provincial minister for excise and taxation and the minister for communications and works.
Punjab Minister for Finance Makhdum Hashim Jawan Bakht has said all provincial departments need to take a closer look at their finances.
“Every government department needs to carry out a comprehensive audit and review of its financial health.”
While chairing the austerity committee meeting here on Saturday, the minister said various workshops and training sessions were being planned for finance related capacity-building of almost all government departments. He underscored that there was a dire need to cut down expenses to lessen the burden on the country’s economy.
Bakht said every option and avenue, like the review of state owned land and its usage, would be explored to curtail expenditures and generate required resources.
Provincial Finance Secretary Sheikh Hamid Yaqoob also briefed meeting participants that Prime Minister Imran Khan had initiated an austerity drive to reduce unnecessary expenditure out of public money in order to get the best value of public money. He highlighted that the prime minister had taken lead and imposed restrictions on discretionary grants, luxury vehicles, protocol and unnecessary staff.
In the same manner, the government of the Punjab shall adopt an austerity policy to reduce the current and development budget.
He told members of the austerity committee that the Finance Department earlier issued measures for FY 2018-19 after getting approval from the caretaker government.
According to these measures, all administrative departments, including autonomous bodies, attached departments, local governments, authorities, public sector companies and special institutes, shall remain within the budgetary allocation to minimise incidences of supplementary grants.
The request for supplementary grants, if unavoidable, shall require approval of the provincial cabinet or standing committee on finance and development.
He said there shall be a complete ban on foreign visits of ministers, MPAs and government officers/officials through government funding. The case for foreign visits shall be placed in the austerity committee for consideration and subsequent approval of the chief minister through the submission of a summary.
He further said there shall be a complete ban on treatment abroad at government expense. “New vehicles would not be bought except buses for educational institutes and ambulances which may be purchased after taking approval from the chief minister. “
No discretionary funds will be granted for the renovation of official residences. Approval will be sought from austerity committee before buying durable goods. Strict compliance of aforesaid austerity measures shall be ensured by all concerned.
The committee members expressed their confidence in the austerity measures and also contributed towards the suggestions for upcoming challenges. The meeting was attended by the provincial minister for excise and taxation and the minister for communications and works.