The government has approved the Treasury Single Account Rules 2020 aimed at meeting its capital needs by placing all the public money of ministries, divisions and their attached departments into a single account to ensure availability of cash. Moreover, the rules paved the way for institutional and administrative arrangements for an effective cash management system, including placement of public money into a treasury single account. The draft Cash Management and Treasury Single Account Rules 2020 will be sent to government offices ie ministries, divisions and executive departments, including the attached departments and subordinate offices. Sources told The Express Tribune that the Finance Division had solicited approval of the cabinet in a recent meeting for the Cash Management and Treasury Single Account Rules 2020. The cabinet considered the summary titled Treasury Single Account Rules 2020 dated July 15, 2020, submitted by the Finance Division, and approved the proposal.

Source: The Express Tribune August 06, 2020 03:22 UTC