Public Finance Management Reforms In Pakistan: A Case Study Of The Treasury Single Account Regimen
Mahmood Khalid and
Talib Hussain Baloch
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Ayezza Sattar: Ministry of Science & Technology, Islamabad
Mahmood Khalid: Pakistan Institute of Development Economics
Talib Hussain Baloch: Ministry of Finance, Islamabad
No 2023:8, PIDE-Working Papers from Pakistan Institute of Development Economics
The Public Financial Management (PFM) refers to the regime of laws, regulations, processes and institutional, organisational and management systems which are established to ensure that the public monies are raised and used in an effective and efficient manner so as to ensure achieving delivery of services in accordance with the national policies (Williams, 2010). The implementation of a sound Public financial management thus becomes a yardstick to measure how successfully the Government conducts its business. In case of Pakistan, before the promulgation of the Public Finance Management (PFM) Act 2019-there was no policy framework in terms of cash management in the country. Hence there was an urgent need for a reform in the system so as to create a credible financial management for the government. PFM ACT 2019 encompassed the whole system of public finance management but in this paper only the concept of Cash Management would be dealt with—and the introduction of the Treasury Single Account system (TSA) has been taken as a case study for empirical research.
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