Financial affairs of departments will be more transparent through Financial Management Act: CM Punjab

Lahore: (Staff Reporter) Chief Minister (CM) of Punjab Chaudhry Pervaiz Elahi said that the financial affairs of the departments will be made more transparent through the Financial Management Act.

According to the meeting regarding the Financial Management Act was held under the chairmanship of CM Punjab. The Financial Management Act was reviewed in detail. It was given an immediate finalization with directions to settle the related matters soon.

In this regard, Pervaiz Elahi said that the Act is very important for transparent utilization of government expenditure and good governance.

Furthermore he said the financial affairs of the departments will be made more transparent through the Act, adding that balance in expenditure and receipts will improve economic affairs. Financial performance of government departments will also be closely monitored, he added.

Meanwhile CM Punjab further stated that financial management and financial affairs will be reviewed every three months. He said necessary reforms will be made to improve the financial affairs of the departments and the government departments will be held accountable in case of financial irregularities.