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ISLAMABAD: The Finance Ministry has asked all ministries/ divisions to surrender the anticipated savings on a priority basis by May 31, 2022, for proper utilization of funds where required.

The ministry through a circular issued on Saturday stated that all Principal Accounting Officers (PAOs) are requested to sanction the re-appropriation of funds to meet the Employee Related Expenses (ERE) requirements and surrender the anticipated savings on a priority basis but not later than 31st May 2022 for proper utilization of funds where required.

The onerous task before finance minister Miftah

It stated, the undersigned is directed to refer to Sections 11 and 12 of the Public Finance Management Act, 2019 on the subject and to state that all Ministries/ Divisions, their Attached Departments and Sub-Ordinate Offices are required to sanction the re-appropriation of funds and surrender the anticipated savings to the Finance Division by 31st of May each year.

Copyright Business Recorder, 2022

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