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Investor Presentaiton

Chapter IX - Public Financial Management (PFM) Reform Program for Results (PforR) - Punjab Public Resource Management Program While recognizing the need for PFM Reforms, Finance Department, with the partnership of the World Bank, has developed a USD 330 million Program for targeted reforms in different Provincial agencies: Finance Department, Planning and Development Board (P&D Board), Board of Revenue (BOR). Excise, Taxation and Narcotics Control Department (ET&NC Department). Local Government and Community Development Department (LG&CD Department), Punjab Information Technology Board (PITB), Punjab Revenue Authority (PRA), Punjab Procurement Regulatory Authority (PPRA). The Program Development Objective (PDO) is "to improve collection of Own Source Revenue, management of public resources and disaster risk and use of technology in the delivery of Government services in Punjab”. The Program design is informed by revenue potential and tax administration analyses conducted under Trust Fund for Accelerating Growth and Reforms (TAGR), PEFA and other technical assessments. This is a hybrid Program for Results (PforR) operation with three key result areas under the Results Component (USD 300 million): Strengthened Budget Formulation and Fiscal Risk Mitigation Gov-tech for continuity, efficiency and transparency of Increased Revenue Mobilization by strengthening Administration services The Program will also include a Technical Assistance Component (USD 30 million) to support the implementing entities with interventions that require input-based specialized expertise and capacity building. It will finance automation of business processes and provide technical Assistance for both Finance Department and P&D Board for activities/diagnostics including use of big data in tax administration and tax audit techniques; revenue generation from public properties; business process mapping and simplification to enable automation in tax administration; review of legal framework and technical requirements for public financial management, especially relating to performance-based budgeting and e-procurement etc. The Program is for a duration of 5 years and is expected to initiate in October 2020. The Punjab Government believes that this deep-seated reform will address the systematic deficiencies in the most result-oriented manner. PFMU While the Program is being developed, the Government is very keen on initiating implementation of major PFM reform requirements already identified e.g. e-Procurements, Pension Reforms, development of tax analytics capacity etc. A PFM Unit will be established within Finance Department to undertake Budget Reforms, Revenue Mobilization Reforms and e-Procurement. There would be five distinct work streams within the PFM Unit - Project Finance, PFM, Taxation, Management Information System (MIS) and the e-Procurement. The Unit will collaborate with all Development Partners to help ensure donor coordination for effective implementation of its agenda. Following will be the major functions of the proposed PFM Unit: Page 74
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