ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed National Accountability Bureau (NAB) to surrender its lapsable funds in future so that they could be budgeted in the next fiscal year by the Finance Division, well-informed sources told Business Recorder.
Sharing the details, sources said that NAB in its briefing to the ECC on November 1, 2024 noted that the Bureau had been authorized to apply prescribed percentages on account of government/NAB share on various types of recoveries made through its operations vide Finance Division’s No. of July 6, 2000.
The amount so determined was deposited into the Federal Consolidated Fund (FCF) and subsequently allocated to NAB through a Technical Supplementary Grant for utilization under Recovery and Reward Rules 2002.
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The unutilized amount at the close of the financial year was re-allocated to NAB by July 15 of each financial year as provided vide Rule 5(7) of Recovery and Reward Rues 2002 and item iv of the revised procedure of recovery and disposal of amount recovered by NAB on account of corruption money as prescribed by Finance Division on June 05, 2009.
During the financial year 2023-24, an amount of Rs.958 701 million had been allocated in terms of the laid down procedure. However, a sum of Rs.376.096 million remained unutilized at the close of the financial year. As provided under the rules, the unutilized amount was to be re-allocated enabling NAB to meet the budgetary requirements.
Finance Division advised NAB to move a summary for the ECC for consideration of additional budget of Rs.376.096 million for recoupment of Assignment Account, through a letter of September 6, 2024.
Law Ministry sought approval of the ECC for approval of a Technical Supplementary Grant for allocation of funds of Rs.376.096 million, in terms of Article 84 of the Constitution of Islamic Republic of Pakistan 1973, in favour of NAB for meeting the expenditure in terms of Recovery and Reward Rules 2002.
During the ensuing discussion, the ECC observed that if NAB had surrendered its lapsable funds timely then the same could be budgeted in the next fiscal year by the Finance Division, a line of action which would save the hassle of submitting TSGs to the ECC in future.
After brief discussion ECC headed by the Finance Minister approved the proposal of TSG of Rs 376.096 billion and also directed NAB that in future it should timely surrender its lapsable funds so that same could be budgeted in the next fiscal year by the Finance Division in order to avoid submitting cases of TSG to the ECC.
Copyright Business Recorder, 2024
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