Development authority given powers to approve, modify budget

By amending the Upper Swat Development Authority Act 2021, the Khyber-Pakhtunkhwa (K-P) Assembly has empowered the authority to approve and modify the budget.

Under the new tweaks, the director general has been mandated to submit a financial status report within three months of every financial year.

The bill was presented by the concerned minister in the assembly on Monday. 

According to the amended Section 20 of the bill, the director general will submit the annual budget estimates and work plan to the authority, which will then use its powers to either approve or modify grants.

Similarly, the accounts of receipts and expenditures of the authority shall be kept in such form as may be prescribed by regulations.

The director general shall submit the annual statement of accounts, audited balance sheet, profit and loss account and auditor's report within three months of the end of each financial year.

Published in The Express Tribune, September 20^th, 2022.