He further said,  an Integrated Treasury Management Information System (ITMIS) has been established and this system will be introduced for the Ministries of Education and Health for the first time in 2016.  This system helps to report the value of the assets of all public institutions. This was introduced to the country to bring its accounting standards to the level of international accounting standards, the Minister said. 

 

 

In the year 2015 the capital expenditure that was incurred for the education sector out of all other Ministries amounted to  Rs. 42.1 Billion and for the year 2016 a total  sum of  Rs. 144.3 Billions is estimated to be incurred.  This consists of Rs.62.3 Billions through the 2016 appropriation bill and Rs.82 billion from the new budget proposal. he said.

 

 

I have also proposed to establish an auditing firm to enhance the professionalism of the officers who are engaged in financial activities in the public sector.  There isn't an auditing firm in the public sector for public financial officers. 

 

 

The Minister while appreciating the attention the Parliamentarians' have shown towards 2016 Budget proposals expressed finance ministry's flexibility to make corrections to shortcoming if any.