Institutional losses in public sector ‘reduced’ to Rs143 bn

F.P. Report

ISLAMABAD: Institutional losses in the public sector reduced to Rs143 billion in 2019 as compared to the Pakistan Muslim League-Nawaz (PML-N) tenure, the details have emerged after a cabinet committee meeting headed by Finance Minister Shaukat Tarin.
According to details, Shaukat Tarin chaired a meeting of the cabinet committee on public institutions and reviewed their performance during the Fiscal Year 2018-19.
The losses in the public institutions reduced to Rs143 in 2019 as compared to Rs286 billion during the last year of the five-year PML-N tenure from 2013 to 2018.
“National Highway Authority (NHA) was however not able to minimize its losses,” a handout issued regarding the meeting noted.
It added that the report on the financial performance of the public institutions would be prepared soon. The finance minister was quoted as saying during the meeting that the institutions should be given monthly and quarterly targets to assess their performance.
It is pertinent to mention here that the federal government introduced institutional reforms in the civil services, bringing a new policy of promotion and rotation for government employees.
The renewed promotion and rotation policy for government employees under which officials facing a reference from NAB and FIA would not be promoted came into force across the country from January 01.
Sharing the details of the policy devised by the institutional reforms committee headed by him, Shafqat Mahmood said that the core part of it
was civil reforms and they have brought down the strength of the Pakistan Administrative Services (PAS), besides also changing the policy of commissioned officials’ transfer to the provinces. “No government employee or official will be promoted in case of a NAB or FIA reference against him, however, the promotion will be considered in case the reference remained pending for three years,” he said.