Ministry seeks refund of unused budget
While the budgetary measures show that the government is trying to offset the adverse effect of inflation on the poor, they do not indicate any significant remedy for the present financial malaise. Photo: file
The federal government has made significant progress in budgeting for the upcoming fiscal year 2024-25.
The Ministry of Finance has issued directives to all ministries and divisions to return unutilized funds for the fiscal year 2023-24 to the Finance Ministry's budget wing by May 15.
In this regard, an official circular has been issued. All ministries and divisions have been instructed to transfer unutilized funds for the current fiscal year by May 15, 2024, instead of May 31, 2024.
Principal accounting officers of all these ministries, divisions, and departments are instructed to ensure that all orders for fund returns are issued by May 15 so that they are received by the budget wing in due time.