Islamabad-based World Bank Financial Management team leader Ismaila B. Ceesay called on NWFP Accountant General Ahmed Rasul Bangash.
They discussed the financial aspects of the NWFP Structural Adjustment Credit (SAC) with special reference to progress on SAC reforms related to financial management, accounting, reporting, and provincial financial accountability assessment-related issues.
Ismaila B. Ceesay of this pre-appraisal mission showed his entire satisfaction especially with regard to the progress achieved in implementation of Pifra project at the district accounts office, Abbottabad and the accountant general office.
Pifra is a World Bank-aided project for improvement in financial reporting and auditing. The mission appreciated the progress in respect of reconciliation of expenditure and receipts figures being carried out between the AG and the provincial government departments.
Bangash assured the World Bank that the pace of reconciliation shall further be accelerated to achieve the hundred percent target with emphasis on expenditure management.
They also discussed the organisational issues regarding internal audit and improved internal controls in the provincial government departments at all levels. The team leader was informed about the up-gradation of seven district accounts offices in major cities in the province.
In fact, both the World Bank representative and the Accountant General agreed on production of more reliable, comprehensive, timely, and accurate financial information pertaining to provincial and district governments transactions.
The NWFP government has embarked on a comprehensive structural reform programme (SAC-II) to overcome socio-economic issues, inefficient expenditure, rigid expenditure structures dominated by establishment costs, debt-servicing, subsidies, heavy expenditure on federal transfers and low tax potential.