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news details
FM calls for strengthening audit mechanism
9/13/2017 10:13:55 PM
Early Times Report
SRINAGAR, Sept. 13: Minister for Finance, Labour & Employment Dr Haseeb A Drabu today reviewed the modalities for replacement of the existing Treasury system with Pay and Accounts Office (PAO) as was announced by him in the state legislature while presenting budget 2017-18.
Principal Secretary, Finance Navin Kumar Choudhary, Director General Accounts & Treasuries Altaf Hussain Mirza, Director Codes Mohammad Rafi Andrabi and other senior officers of the Finance Department were present at the meeting.
During the meeting, a detailed presentation on Pay and Accounts Office (PAO) system was made to the Finance Minister. The meeting was informed that a committee of senior officers was constituted to study the PAO system of GoI so that it helps in coming up with own such system in J&K. The Committee after having several deliberations and discussions evolved a workable PAO model for the state.
It was further informed that many key elements of GoIs PAO system have been incorporated in the proposed system which would ensure better understanding of the department resulting in accurate forecasting, budgeting, accounting and reporting. An inbuilt pre-check mechanism in PAO system would be able to monitor and control the purpose and objective of payments, budgetary sanctions and ceilings, proper classification, and excess payment issues.
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