Tag: AGPR

  • Ministry of Finance halts clearing of bills including salaries due to deteriorating financial condition

    Ministry of Finance halts clearing of bills including salaries due to deteriorating financial condition

    The Ministry of Finance and Revenue has instructed the Accountant General Pakistan Revenues (AGPR) to stop clearing bills, including salaries, due to the current economic crisis and the deteriorating financial situation of the country. The ministry has also directed the halt of clearings of attached departments until further notice.

    According to The News, official sources have confirmed that operational cost-related releases have faced difficulties due to the economic hardships of the country. However, attempts to obtain a comment from Finance Division officials were unsuccessful, and the Minister for Finance Ishaq Dar promised to respond after confirming the report’s accuracy, which he had not done by the time of the report’s filing.

    Sources who went to the AGPR office for clearance of their outstanding bills were informed that the Ministry of Finance had directed them to stop clearing all bills, including salaries, due to the prevailing financial difficulties. The reasons for the immediate stoppage of the clearance of bills were not ascertained.

    The lingering financial difficulties are considered to be a significant reason for this move. However, salaries and pensions of defence-related institutions have already been cleared for the following month.

    During a meeting with a delegation of M/s Rothschild & Co on February 22, Finance Minister Ishaq Dar said that the government is committed to steering the economy towards stability and growth, and completing the International Monetary Fund (IMF) programme, and fulfilling all international obligations.

    To this end, on February 20, the National Assembly unanimously approved the Finance (Supplementary) Bill 2023, or ‘mini-budget’, which is mandatory for seeking the $1.1 billion tranche of the IMF. The bill increases sales tax from 17 to 25 per cent on imports ranging from cars and household appliances to chocolates and cosmetics, while a general sales tax was raised from 17 per cent to 18 per cent.

    As the bill was passed, the minister told the lower house of parliament that the prime minister would unveil austerity measures in the next few days, adding, “we will have to take difficult decisions.”

    UPDATE:

    The Finance Ministry has rejected the rumours that the government has instructed to stop payment of pay and pension.

    The ministry stated in a press release, “There are rumours floating around that Government has instructed to stop payment of pay, pension, etc. This is completely false as no such instructions have been given by Finance Division, which is the concerned federal ministry. AGPR has confirmed that pay and pension have already been processed and will be paid on time. Further, other payments are being processed as per routine.”

  • PM’s flood relief fund to be audited to ‘ensure transparency’

    PM’s flood relief fund to be audited to ‘ensure transparency’

    Prime Minister (PM) Shehbaz Sharif on Saturday announced that the government will conduct an audit of the PM Flood Relief Fund to maintain transparency.

    The fund will be audited by the Accountant General of Pakistan Revenues (AGPR) and a private audit firm of “global standing”.

    “As per my commitment to ensure transparency, the government has decided to get the PM Flood Relief Fund audited by AGPR and a private audit firm of global standing. They will audit all incoming and outgoing funds, including where and how the money is spent. The audit reports will be made public,” PM wrote in a tweet.

    Pakistan is experiencing one of the worst floods in its history. In the last 24 hours, 26 more deaths have occurred, which has taken the death toll to 1,290.

    The floods have wreaked havoc across all four provinces. The scale of devastation has been estimated to be upwards of $10 billion.

    Many countries are coming forward to help Pakistan. So far, the country has received aid from China, Saudi Arabia, Qatar, Turkey, Uzbekistan, and the United Arab Emirates among others.

    On Thursday, the UK announced an additional £15 million of lifesaving support for flood victims in Pakistan.

    This week, the United States announced it would provide $30 million for flood victims.

    United Nations (UN) chief Antonio Guterres called the floods a “climate catastrophe” and launched an appeal for $160 million in emergency funding. Meanwhile, western countries have also donated millions of dollars to Pakistan.