PESHAWAR, Jun 19 (APP):The government of Khyber Pakhtunkhwa has taken concrete measures to achieve its important objectives of Public Financial Management (PFM) reforms agenda for an inclusive, transparent, and accountable government.
According to budgetary documents issued here on Friday by the Provincial Finance Minister Taimur Khan Jhagra, PFM encompasses an annual cycle of policy and planning, budget preparation, budget execution, accounting and reporting, performance monitoring, and audit.
The finance department would continue to implement the medium-term PFM Reform Strategy (2017-20) which has approved by the provincial cabinet in 2017.
The strategy involves a sequential approach to PFM reforms and envisions a citizen-centric and responsive governance mechanism ensuring equity, transparency, and accountability in the management of public finance.
The three-year detailed action plan is structured around six key objectives including policy-driven planning and budgeting; comprehensive, credible and transparent budget; predictability and control in budget execution; resource mobilization; assets and liabilities management; and accountability for results. These objectives covered twenty-four reform areas.