SrinagarA day after Finance Minister Haseeb Drabu was dropped from the cabinet, the ambitious public accounts office (PAO) system he had envisaged was put in abeyance till March 31.
The implementation of Pay and Accounts Office System rolled out vide government order no.43-F of 2018 is kept in abeyance till 31st March 2018 in the first phase, reads an order issued by Princiapl Secretary Finance, Navin K Choudhary.
The readiness of stakeholders as well as foolproof technical plateform will be reviewed before rollout of the system early next financial year, the order added.
The functionally aligned PAO system was proposed by then Finance Minister Haseeb Drabu to replace the present Treasury System.
For all receipts and disbursements of the Government, the Pay and Accounts Offices would be departmentally aligned. They would deal with those heads of accounts which are related to the function of their concerned departments.
Instead of receiving the receipts and disbursing the payments of numerous departments in the treasury system, the PAO would deal with just one department. This will ensure better understanding of the department resulting in better forecasting, budgeting, accounting and reporting, he had said in his budget speech.
The new PAO system, he had said, will be able to monitor and control the purpose and objective of payments, budgetary sanctions and ceilings, proper classification, and excess payment issues.
For budget control mechanism of audit and invoice checking at the department level, the bills and challans and invoices would not be physically carried to treasuries. Instead, a computerized Integrated Financial Management System (IFMS) will process all those functions online.
The new system will be in vogue from October 1, 2017 and complete the transition by March 31, 2018, he had said.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.