Daily Times

LAHORE: The Executive Development Institute (EDI) of National School of Public Policy (NSPP) Friday organized a two-day workshop on public financial management.

The course was officially introduced by EDI Dean Ahmed Nazir Warraich, who highlighted the importance of fiscal discipline and efficient financial management. He pointed out that the government was also emphasizing result-oriented financial management.

Over 25 participants from all-over the country attended the session including academicians, civil servants and private sector executives. A team of eminent professionals were invited to conduct the course. Secretary Planning, Development & Special Initiatives Hamed Yaqoob Sheikh told the participants about the budget cycle in Pakistan and its legal and institutional framework.

He reiterated the fact that proper public finance management could be achieved by efficiency and effectiveness of expenditure through observance of laid down budget planning process. Former governor of State Bank Tariq Bajwa explained the theoretical framework of public financial management and concept of fiscal federalism, along with National Finance Commission Award (NFC).

He said that sound public finance policies, institutions and outcomes were critical for making far-reaching and sustained progress in promoting shared prosperity. Amjad Saleemi, a legal and regulatory reforms expert, gave a detailed account of auditing and accounting.

Faisal Rasheed, a public financial expert, explained in detail the role of public procurement and expenditure in effective public financial management. He apprised the participants of the procurement cycle and principles of procurement. He also gave a holistic view of the whole process as well as the snags in the procurement.

Dr. Hafeez Pasha, former deputy chairman, Planning & Development Division, was the chief guest in the closing session. He praised the efforts of NSPP and EDI for organizing a course on such a vital issue, especially at a time when Pakistan’s economy is going through a challenging time.

He highlighted the importance of public financial management and its role in service delivery for development. He reiterated that investing in social sector particularly could bear fruit for the public, and also emphasized determining the sectoral priorities and the need to invest in neglected sectors.

Rector NSPP Dr. Ijaz Munir highlighted the importance of EDI for providing a workable platform to the public and private sectors to collaborate and develop strategies and also to work for ongoing professional development. While emphasizing the need for PFM course, he said that efficient management of expenditure and resources in an equitable manner is essential for good financial management.