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Govt to universalize PFMS for transparency in fund allocation, utilization: Haq

Excelsior Correspondent

JAMMU, Mar 1: Minister for Rural Development, Panchayati Raj, Law and Justice Abdul Haq Khan today said the Government aims to universalize the use of Public Financial Management System (PFMS) for all transactions/ payments under different schemes as it ensures transparency and facilitates timely release of funds.
The Minister said this while speaking at the inauguration of 3-day workshop on PFMS, Management Information System (MIS) and Geographic Information System by State Level Nodal Agency, IWMP.
Secretary RDD Kifayat Hussain Rizvi, Director RDD, Jammu RK Bhat, CEO IWMP Abdul Rashid Inquilabi, representatives of JK Bank and other senior officers were present on the occasion.
Abdul Haq said PFMS is an end-to-end solution for processing payments, tracking, monitoring, accounting, reconciliation and reporting and hence provides a unified platform for tracking releases and monitoring last mile utilization.
The Minister said the mechanism will help in bringing transparency in the department and will check the frequent blockade of funds besides effective tracking of fund flow to the lowest level of implementation for fund utilization thus leading to better monitoring, review and decision support system to enhance public accountability in the implementation of schemes. He said the ultimate aim of these online systems is to ensure that funds reach to the beneficiary on time and in full without any hindrance.
He said at the end of the workshop, participants will be able to use PFMS effectively and will be able to explain operations and maintenance of the unified Chart of Accounts and its organizational elements.
He said the objective of the training is to build the PFMS knowledge, skills and performance of mid-level staff, responsible for financial reporting, budgeting/accounting functions and managing the Chart of Accounts (COA).
Minister said several innovative measures have been taken by the government to ensure transparency in the governance. He said the assets in the districts created by Rural Development Department are being geo-tagged and will be a touchstone of transparency that will enforce better monitoring, recording and management of developmental works at the cutting edge level.
Abdul Haq said these initiatives will make the system transparent and will squeeze the space for illegal practices and will empower people to be part of the decision making as nothing will be kept hidden in the process of implementation of schemes.

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