The government of KPK will announce three year Public Financial Management (PFM) reforms plan (2017-20) which will include policy driven budget roadmap and deliverables for its effective execution.
A session in this regard will be held today to officially announce the PFM strategy. Along with media, heads of provincial departments, researchers, development partners representatives, academia and civil society will attend this session.
Minister of Finance KP Muzaffar will chair the session, while provincial cabinet has already approved PFM strategy paper for implementation, said in an earlier press release.
According to the details of strategy paper, six objectives have to be achieved including; policy driven budgeting and planning, transparent and credible budget, control in budget execution, resource mobilization, assets & liability and accountability for required results. All of these objectives ought to be achieved through a set of activities spanning over 3 years.
The strategy paper chalks out the roadmap for reforms integrated with key performance indicators so that the results of the reforms could be measured and monitored through targets set in the paper.
One of the important elements in reform is to make budget information accessible to the public as well as making specialized units to control financial resources and accountability for results.
The reform strategy paper if implemented successfully will set the benchmark for other provinces in order to improve government’s performance, introduce reforms, control the budget, introduce accountability, manage financial resources efficiently and implementing transparency.