ISLAMABAD, April 3 With less than three months left to the closure of fiscal year 20092010, the Ministry

of Finance has decided to restrict the validity of government cheques up to three months or June 30, with a view to improve the financial discipline and streamline the management of public accounts. Necessary amendments in the relevant `Federal Treasury Rules` have been effected and notified by the Finance Division, said a press release of the ministry here on Saturday. As per decision of the ministry, if the currency of the cheque expired, owing to its not being presented at the treasury or bank within the specified period, it may be received back by the drawer who should then destroy it and issue a new cheque in lieu of it provided that the validity of the fresh cheque will expire on the last day of this fiscal year. The finance ministry has asked all ministries, divisions and departments to ensure observance of financial disciple by strictly adhering to instructions that the budgetary allocations placed at their disposal are expended uniformly as far as possible during the financial year. They should further ensure that all validity accrued liabilities are promptly cleared and are not postponed towards the end of the financial year. All releases of funds for development or non-development expenditure should be completed by the ministries and divisions by May 15. Releases of inevitable nature, if any after the said date, would only be made by the Finance Division, after ensuring that the funds are likely to be expended well before the close of the financial year. There should be no re-appropriation or supplementary grant after May 15 to ensure timely processing of claim by the Ministries, Division and Departments. All Ministries, Divisions and Departments should submit and draw their claims from AccountantGeneral (AG) Office for all validly accrued liabilities against the Government on or before June 10 of that financial year. In case of requirement of any additional information by the Accounts Officer (AG Office/District Accounts Office/Agency Accounts Office), Account Office will return the un-passed bill urgently and the concerned departments shall respond promptly and resubmit the bill or claim not later than June 15. In order to adhere to the aforesaid schedule, all the concerned authorities shall ensure the issuance of sanctions, completion of codal formalities and procurement of stores well in time so that the claims can be presented for pre-audit to the respective Accounts Office timely. All PLAs/Assignment Accounts holders should make necessary arrangements to ensure encashment of their cheque well in time. All cheques drawn against PLAs/Assignment Accounts should be cleared up to June 30.

The PIFRA (project to improve financial reporting and auditing) will generate regular reports for information of all Principal Accounting Officers, apprising them of the latest funding positions in respective heads. This would facilitate PAOs to take timely action for making good of the shortfall.