Govt to ban use of discretionary funds at disposal of PM, ministers

News Image

MG News | August 24, 2018 at 07:17 PM GMT+05:00

0:00

Information Minister Fawad Chaudhry, while briefing a press conference after the Federal Cabinet meeting chaired by Prime Minister Imran Khan said that the government is now banning the use of discretionary funds at the disposal of the Prime Minister, president, and other ministers.

The decision to do so comes about as part of the government’s austerity measures designed to earn public trust and give the public a sense of confidence that their money is not being wasted, before reaching out to possible sources for fund raising, said the minister.

Fawad also said that the government has approved the dissolution of the useless Capital Administration and Development Division.

Responding to media questions, he said that all commitments to projects related to CPEC that have been guaranteed under agreements, will be honored by the new government and shall be completed in a timely manner. The minister added that directions have been given to the respective provincial authorities to work on these commitments, including the Orange Line.

He further added that the new finance minister, Asad Omer, would be coming out with an interesting package for overseas Pakistanis in order to attract funds and fill the national exchequer.

While assuring that the mass transit projects like the Orange Line initiated by the prior government would be completed in time, he went on to inform the media that the government has decided to conduct forensic audits of these projects, including the Orange Line, Peshawar Metro and Multan Metro bus project.

He also said that all projects will be discussed in the parliament, and if necessary, the scope of these audits/investigations could be extended through the FIA.

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,755.00 120,695.00
117,575.00
-2480.00
-2.06%
BRENT CRUDE 68.93 69.17
68.85
-0.28
-0.40%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.65 66.99
66.55
-0.33
-0.49%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 15, 2025 at 06:16 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg