Investor Presentaiton
Chapter IX - Public Financial Management (PFM) Reform
The Public Financial Management (PFM) system - the institutions, policies, laws and processes
that govern the use of public funds - plays a key role in ensuring optimal utilization of resources to
achieve service delivery objectives in line with National and Provincial priorities.
A strong PFM system can ensure higher and more predictable budget allocations, reduced fragmentation in revenue streams and funding
flows, timely budget execution, better financial accountability and transparency.
Timely Budget Execution
Reduced Fragmentation in
Revenue Streams
M
Better Financial
Accountability
Predictable Budget
Allocations
PFM
Transparency
Background
Government of the Punjab has been striving to enhance its PFM capacity to provide better services to citizens of Punjab. Finance Department,
being the central agency for financial management in the Provincial Government, has been leading these reforms. Examples of such initiatives
include but are not limited to;
Piloting of
Medium-Term
Budgetary
Framework
(MTBF)
PRA
ㅁㅁ
$
%
PAY
Establishment
of Punjab
Pension Fund
Punjab
Revenue
Authority
GATEWAY
Creation of
tax bases for
Urban
Immovable
Property Tax
Digitization of
Introduction of
e-stamping)
Budget
transparency
reforms
(Medium Term
Fiscal
and Motor
Vehicle Taxes
Framework,
Budget
Establishment
of formula
based fiscal
transfer
systems for
Local
Governments
Initiation of
online
collection of
Strategy
Paper and
Citizens
Budget)
Provincial
taxes/levies
through ePay
Punjab under
the Ease of
Doing Business
umbrella
Need Assessment
The magnitude of the ever-evolving and multifarious Development challenges facing the Government of Punjab and
the limited financial resources available to foster accelerated growth, development and the provision of quality public
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