LAHORE, Aug 28: Punjab Minister for Finance Hasnain Bahadur Dareshak has expressed optimism that the new National Finance Commission (NFC) Award will be announced before the next fiscal year.
Talking to APP here on Thursday, he said that the Punjab government was making efforts to swap the high-cost debt with a soft-term one.
“We will retire the high-cost Rs15 billion Cash Development Loans (CDLs) this year,” he said.
The Punjab government was negotiating with the Asian Development Bank (ADB) to get a soft-term loan worth US $480 million, the minister said.
Regarding the prevailing dualism of command in the accounts department, he said that accounts would come in the purview of the provincial governments from July 1, 2006, in the light of the federal cabinet’s recent decision.
VISITS TREASURY: Minister Hasnain Bahadur Dareshak paid a surprise visit to the District Treasury Office here on Thursday.
Accompanied by Special Finance Secretary Mian Muhammad Yousaf, the minister inspected the working of various sections of the revenue collection and disbursement facility.
He also asked questions from the officials about the record, especially regarding the sale of stamps and judicial papers, and the payment of pension to retired government officials belonging to Lahore district.
“Major objective of the visit is to obtain first hand knowledge about the situation prevailing in the treasury offices,” Minister Dareshak told newsmen.
He said officials should expedite the payment of pension in 136 pending cases.
He said the district treasury needed its own building. The office also needed to be automated to cut down on the stockpiles of record to a reasonable level.
The minister was informed that the treasury office sold out stamps and judicial papers worth Rs218.8 million last month. “There is adequate supply of stamps and judicial papers from the Controller of Stamps Office in Karachi,” a treasury officer said.
The official said that automation of the treasury office would cost Rs1 million. “This task can be accomplished even under the World Bank-PIFRA’s US $35 million accounts offices automation project, presently in progress at Abbottabad,” he said. The minister also talked with the widow of a pensioner about any problems faced by her in drawing the amount. He directed the treasury officials to expedite her case.