Minister reviews proposed draft of Public Finance Management Act

LAHORE: Punjab Finance Minister Makhdoom Hashim Jawan Bakht chaired a meeting and reviewed the proposed draft of the Public Finance Management Act, a statement said on Tuesday.

Finance secretary Iftikhar Amjad, additional secretary Salman Ghani and a team from the Sub-National Governance Programme attended the meeting.

Under the act, the Punjab Finance Department will prepare infrastructure for the prompt delivery of services under the development plans.

The budget will only be approved for the financial affairs of the development schemes. Other frameworks will be completed before the approval of the budget. The next budget will include 80 per cent ongoing projects and 20 per cent new schemes.

The meeting was briefed that the output-based medium-term planning will improve the performance of departments, as well as the medium-term budgeting process.

Earlier, the minister reviewed the proposals of LUMS researchers for controlling air pollution and stressed the need for the promotion of green financing, encouraging use of modern technology in industries, transfer of kilns to ZigZag technology and use of clean fuel in vehicles.

The government would finance green projects from the next fiscal year, he said, adding that under the proposed model of ZigZag brick kiln, kiln owners will be provided with training and resources on the proper use of technology.