The federal government has directed all ministries and divisions to return any unutilised funds from the current fiscal year by April 30, 2025. The decision has been taken as part of the preparation process for the upcoming federal budget for the fiscal year 2025–26. According to sources in the Ministry of Finance, clear instructions have been issued to all Principal Accounting Officers (PAOs) across ministries and divisions, setting the April 30 deadline to ensure the recovery of anticipated surplus funds from the fiscal year 2024–25. Officials stated that the move follows guidelines issued by the Public Accounts Committee. The finance ministry stressed that the timely return of these funds is essential not only for finalising the revised estimates for the current fiscal year but also for strengthening the projections for the upcoming federal budget. The returned funds are expected to include savings from civil government expenditures, subsidies, and development allocations. As per ministry figures, the total development budget for the current fiscal year was set at Rs1,100 billion. However, only Rs450 billion has been spent so far. The remaining unspent funds will be reallocated to sectors that require immediate financial support. The finance ministry has reiterated its commitment to ensuring prudent fiscal management and efficient resource allocation as it gears up for the new financial year.
from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/8f3VTCN
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