Finance Department has issued The Punjab Delegation of Financial Powers Rules with Effect from 01 July,2016.Under these rules delegation of financial power of various department/ autonomous bodies and institution is defined.
Briefly describing, the Delegation of Financial Powers Rules provide a regulatory framework for the management of expenditure by the Provincial Government Officers. Previously, Punjab Delegation of Financial Power Rules, 2006 were in vogue. However, with the passage of time, the extent of powers delegated to the Administrative Departments and their subordinate offices have rendered inadequate.
Finance Department carried-out an exercise to revise and update these financial powers, especially, the financial powers for issuance of Administrative Approvals, Technical Sanction Estimates and Powers of Departmental Development Sub-Committee (DDSC) for approval of development schemes. It is pertinent to mention that the instant revision signifies a marked departure from the previous Delegation of Financial Powers as the revision draws force from a
detailed analysis of lacunae in the Delegation of Financial Powers Rules, 2006.
This revision will improve financial discipline and remove inherent weaknesses in the framework of financial regulations. Furthermore, amendments in related Financial Rules have also been considered and incorporated in the revised book to make it compatible.
However, any error, mission, if noticed, may be referred to Finance Department for necessary rectification.