The Ministry of Finance has finalised a strategy regarding release of funds for the financial year (FY) 2012-13 for current and development expenditure. The release of funds for the current and development expenditure has been restricted at level of 20 per cent of budget estimates for the period of July-September 2012, official sources informed APP. During October-December 2012, 20 per cent of budget estimates may be released and 30 per cent of budget estimates during January-March 2013, the sources further added. Moreover, the remaining balance of 30 per cent may be released during the last quarter of financial year 2012-13, they added. However, all releases and payments may be made pre-audit system of Auditor General of Pakistan Revenue (AGPR) or through Assignment Account Procedure and any direct payment through State Bank of Pakistan (SBP) may be made as special case with the prior approval of the Finance Secretary. Proposals for re-appropriation and technical supplementary grant out of lump provisions in the budget 2012-13 may be referred to budget wing for comments and clearance.
