Finance: Foreign exchange budgeting ordered

LAHORE: The Finance Department has directed all provincial departments, heads of various authorities and autonomous bodies to prepare their foreign exchange budget for the financial year 2012-13 presuming an exchange rate of Rs93 to US dollar. The Finance Department has informed all department heads that their foreign exchange requirements would only be considered for projects which had been included in the public sector Annual Development Programme. The departments were directed that the goods manufactured within the country should not be included in the foreign exchange allocations. The departments were directed to provide information regarding likely expenditures on delegations to be sent abroad and donations likely to come in.

Published in The Express Tribune, March 10^th, 2012.