In a move likely prompted by the current economic challenges, the government has directed all ministries to surrender any unspent funds by May 15th, according to sources within the Ministry of Finance.
Previously set for May 31, 2024, the Ministry of Finance issued a letter to all ministries and divisions, underscoring the urgency of surrendering funds to alleviate economic pressures.
Federal Secretaries of various ministries have been notified, with Principal Accounting Officers instructed to promptly inform the Budget Wing about the status of funds.
The government's decision to expedite the surrender of unused funds suggests a pressing need to manage its finances more effectively.
