Revenue generation and Public Expenditure Management (PEM) are two distinct streams of public financial management which complement each other in attaining the strategic macroeconomic objectives of the state. It is significant to understand how public funds are allocated, how are they spent and what outcome is attained as a result of public expenditure. A resource scarce economy like Pakistan needs to have a robust and efficient Public Expenditure Management (PEM) system to ensure that its financial resources are utilized in the most prudent manner while minimizing the chances of misuse or waste. A rupee saved through prudent public expenditure management is rupee earned for Pakistan. The government functionaries made responsible to prepare budget and incur the expenditure need to ensure the operational efficiency of public expenditure while providing public services at a reasonable quality and cost.

Source: The Nation September 26, 2022 00:13 UTC