GUJRAT: The Punjab government has asked the local bodies institutions across the province to open new bank accounts entitled “Development Fund Account” as funds for the development expenditures will only be transferred to these accounts.

In a notification issued by the Punjab local government and community development department dated January 30, 2017, the mayor of Lahore Metropolitan Corporation, all the mayors of municipal corporations, all the chairmen of the districts councils, municipal committees and union councils in Punjab, have been directed to open the ‘Development Fund Account’ in any branch of Bank of Punjab (BoP). If no BoP branch existed in an area, the local governments are allowed to open the account in any branch of National Bank of Pakistan (NBP), it adds.

The notification says that the funds in these accounts should be strictly used for the development expenditures.

The Lahore metropolitan account will be operated and maintained by the resident director (Audit and Accounts), accounts officer and chief officer jointly, whereas the accounts municipal corporations, municipal committees and district councils will also be jointly operated by three different officials concerned.

However, the accounts of union councils will jointly be operated by the concerned chairmen and UC secretary.

Published in Dawn February 1st, 2017