Public financial management act will become law this year

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Minister Finance Khyber Pakhtunkhwa, Taimur Khan Jhagra on Saturday said that Public Financial Management Act (PFM) is aimed for improving officials’ performance in public financial management, budgeting, accounting and auditing sectors.

In a statement, he said that Khyber Pakhtunkhwa continues on the most aspirational reform journey in the country. He said that new Public Financial Management Act is ready and will be law by this year’s budget, adding it will be the best of its kind in the country.

He said that PFM Act will not just codify existing budget procedures into law. The Act will improve budgeting, financial management and transparency, and be bold and innovative at the same time, he added.

 

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