28-04-2025
- Business
- Business Recorder
KP Finance issues fiscal guidelines to spending, cheque clearance
PESHAWAR: The Finance Department of Khyber Pakhtunkhwa has issued detailed circular guidelines to all relevant government departments and regional bank branches aimed at ensuring fiscal discipline and the efficient utilization of funds for the financial year 2024-25.
To streamline public financial management and avoid year-end bottlenecks, all departments have been directed to ensure uniform expenditure throughout the year and clear all valid liabilities well before the end of the fiscal year. Departments are required to complete all formalities for bill processing and procurement in a timely manner.
The finance department circular stated that the funds placed at the disposal of Departments/Offices are expended uniformly during the current financial year and all valid/accrued liabilities are promptly cleared and are not postponed towards the end of current financial year.
It is mentioned that all the concerned authorities shall ensure the issuance of sanctions, completion of coda formalities and procurement of stores well in time, so that claims can be presented for pre-audit to the Accountant General/respective District Accounts Offices timely.
While all bills against the releases for financial year 2024-25 must be presented to the Accountant General, Khyber Pakhtunkhwa/District Accounts Officers on or before 16, June 2025.
The Accountant General, Khyber Pakhtunkhwa/District Accounts Officers shall issue all cheques/pay orders by 23, June 2025 and the last schedule for the month of June would be sent to SBP before presenting of the cheque for payment.
The circular stated that the cheques of lapsable PLAs/SDAs/Assan Assignment Accounts, Reserve Fund/ SDF, Forest and Works Accounts must be issued well in time and got cleared from the Treasury Officer, Peshawar/DA0 concerned. All cheques drawn against PLAs/SDAs/Assan Assignment Accounts, Forest & Works Accounts shall be encashed up to 30-06-2025.
The finance department stated that the all cheques already issued or to be issued, which pertain to the financial year 2024-25, shall be valid up to 30' June 2025 except salary cheques issued to the DD0s, if any for the month of June 2025 which is payable on or after 10 day of July 2025.
The finance department circular said that the any defect in cheque such as overwriting/deletion, payees address, difference of amount in figures and words and lack of signature of authorized person shall be avoided as a result of which the cheques would be rendered un-passed while the authorities issuing Cheques/pay orders may affix the stamp "not payable after 30, June 2025" on all the cheques/pay orders except salary cheques issued to the DDOs, if any.
It is stated that the State Bank of Pakistan/National Banks of Pakistan will make necessary arrangements for receipts & payments on 30, June 2025 till late in the night to honour all the cheques, so issued. It is stated that the Banks shall not make any transaction from Government's accounts after 30, June 2025 for cheques issued on or before 23, June 2025 except salary cheques issued to DDOs if any.
The circular stated that the Management of National Bank of Pakistan shall issue instructions to all concerned for clearance of their claims under Assignment Accounts up to 30, June 2025, while Regional Chiefs of all the Commercial Banks shall issue necessary instructions to their Branch Officers to present Government Cheques deposited by their account holders to respective State/National Banks for encashment up to 30, June 2025.
The finance department guidelines said that the period of validity of cheques up to 30, June 2025 cannot be extended during next financial year 2025-26.
Copyright Business Recorder, 2025
