Principal Accounting Officers Ordered to Strictly Follow the Public Finance Management Act
The Finance Division has warned Principal Accounting Officers to ensure that no expenditure (employees related or others) is incurred without the available budget and conduct business in accordance with provisions of the Public Finance Management Act, 2019 and General Financial Rules in true spirit.
Finance Division (Budget Wing) has issued an office memorandum to all finance secretaries, additional finance secretaries and PAOs of Ministries/Divisions.
According to the Finance Division, refer to the Public Finance Management Act, 2019, it is to state that PFM Act has been enacted to strengthen the management of public finances in the Federal Government. It clarifies institutional responsibilities related to financial management and strengthen budgetary management. Section 10 relates to changes in the schedule of authorized expenditure while Sections 23 and 25 of the Act also elaborate expenditure out of the budget grants.