Excelsior Correspondent
JAMMU, Mar 17: The Finance Department of J&K Government today issued several austerity instructions for fiscal prudence and economy that shall come into immediate effect in case of Public Sector Undertakings (PSUs).
There will be a complete ban on creation of posts in the PSUs while the posts that have remained vacant for more than two year are not to be revived except under very rare and unavoidable circumstances and after seeking clearance of the Department of Finance.
Besides, there will ban on holding of meetings and conference at five star hotels as well as purchase of vehicles while utmost economy shall be observed in organizing conferences/seminars/workshops.
Holding of exhibition/fairs/ seminars/conferences abroad is strongly discouraged except in the case of exhibition for trade promotion, reads the circular, adding that facility of video conferencing may be used effectively.
In all cases of air travel, the lowest air fare tickets available for entitled class are to be purchased and no companion free ticket on domestic/international travel is to be availed of, further reads the circular.
Pertinent to mention that Finance Department has been issuing such austerity instructions from time to time with a view to containing non-developmental expenditures and releasing of additional resources for priority schemes.
As per the circular, release of grant-in-aid shall be strictly as per provisions contained in GFRs and Government instruction and the departments shall not transfer funds under any scheme in relaxation of conditions attached to such transfers.
Further, not more than 30 percent of the Budget estimates should be spent in the last quarter of the financial year while the payments in the last month of the year may be made only for the goods and services actually procured and for reimbursement of expenditures already incurred.
Rush of expenditures on procurement should be avoided during the last quarter of the fiscal year and particularly in the last month while no fresh financial commitments should be made on items which are not provided for in the budget approved by the Parliament, reads the circular.
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