Images News Netwok

DDOs directed to credit ‘wrongly parked’ money into exchequer

Decrease Font Size Increase Font Size Text Size Print This Page

Jammu, Feb 16: Jammu and Kashmir administration has asked the drawing and disbursing officers (DDOs) to credit all the “wrongly parked” balances into the exchequer within a week’s time, an official spokesman said on Sunday.

“The amounts parked in the accounts have either been drawn from treasuries in advance and subsequently not utilised within the prescribed period or these relate to schemes of the government, the works in respect of which have not been executed within the schedule.

“This results in parking of money outside exchequer and has a commensurate impact on the liquidity of the union territory,” the spokesman said, quoting an order issued by Financial Commissioner Arun Kumar Mehta here.

As a matter of procedure, the order said, all receipts of the government have to be remitted into treasury at the earliest and all amounts required for immediate use have to be drawn from the treasury for immediate disbursement.

The order said accounts against the withdrawals made in advance from treasuries also have to be rendered at the earliest and in any case not later than the closure of the financial year.

Contrary to the procedures, it has been observed that huge amounts of money have been parked into the accounts of DDOs for pretty long periods.

“In order to bring these amounts back into the exchequer, it is impressed upon all the DDOs to credit all the wrongly parked balances of money as of March 31, 2019 to the Major Head 8443-Civil Deposits or revenue of the government as the case may be, within a week’s time from the issuance of these instructions,” the order said.

It said the Director Finances of respective departments shall ensure compliance of these instructions by the DDOs under their administrative control.

Leave a Reply

Your email address will not be published. Required fields are marked *