The European Union will provide a grant of €13 million for improving public sector financial management in the federal and provincial governments of Sindh and Balochistan.
The financing agreement on ‘Public Financial Management Support Programme-II’ between Pakistan and the EU was signed here on Friday. Secretary Economic Affairs Division, Dr Syed Pervaiz Abbas and EU Ambassador in Pakistan, Androulla Kaminara signed the agreement on behalf of their respective sides. Minister for Economic Affairs, Hammad Azhar witnessed the signing ceremony. The thematic area being targeted under the EU support will improve governance with an aim to reduce impact of poverty and social inequality.
How will this help Pakistan?
This programme will further the support to reform the public finance management, in particular with, the planning and budgeting systems, and the internal controls in budget execution with a view to achieve fiscal discipline, enable strategic allocation of budgetary resources, and will help to strengthen aid coordination mechanisms.