PFM deemed key to accountability

Public financial management is not only crucial in meeting fiscal targets and the effective utilisation of resources but are also critical to economic governance and essential in establishing the performance, legitimacy and accountability of functional states.

Speakers said this during an orientation session organised by the Khyber-Pakhtunkhwa (K-P) Finance Department in collaboration with the UK Foreign, Commonwealth and Development Office (FCDO) funded Sub-National Governance Programme. The session was organised for lawmakers of the provincial assembly to enhance their understanding of public finance management, budget analysis and challenges of the 2020-21 budget. They said that public financial management (PFM) assists the government in setting future priorities and ensuring fiscal sustainability.

K-P Assembly Speaker Mushtaq Ahmad Ghani and Finance Minister Taimur Saleem Jhagra chaired the session. The speakers said that PFM leverages effective administration of funds collected and spent by governments. Moreover, the budget is an important document in ensuring transparency, accountability, comprehensiveness and good governance.

Published in The Express Tribune, September 3^rd, 2020.