Credit back wrongly parked money by Mar 31: Govt to DDOs

Srinagar, Feb 16: The government has asked Drawing and Disbursing Officers (DDOs) to pay back funds, which  they have ‘wrongly parked’ in accounts for a long period of time without utilising them on development works.

The Finance Department has learnt the Drawing and Disbursing Officer’s (DDOs) have retained huge sum of money in bank accounts for long period.

“It has been observed that huge amounts of money has been parked in the accounts of DDOs for pretty long periods. The amounts parked in the accounts have either been drawn from treasuries in advance or subsequently not utilised within prescribed time or these relate to schemes of the Government, the works in respect of which have not been executed within the schedule,” an order by Finance Commissioner Arun Kumar Mehta reads.

He said the parking of money outside exchequer has resulted in a “commensurate impact on the liquidity of the Union Territory”.

“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,” Mehta in the order said.

The government has ordered director finances of every department to ensure the compliance of these instructions by the finance department.

Finance Commissioner has also directed the departments to remit all the receipts into the treasury, adding the “amounts required for immediate use will be drawn from treasury for immediate disbursement.”

“Accounts against the drawls of money drawn 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,” he said.

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Presently Senior reporter at The Kashmir Monitor with an experience of nine years in reporting business, crime, defense, politics and environment.Have also contributed to reputed media organizations including First Post, India Spend, Forbes India

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