close
Wednesday May 18, 2022

AGP training course

By Our Correspondent
January 17, 2022

LAHORE: Performance audit wing organised an interactive three-day training course on ‘Value for Money’ for the officers of the executive departments of government of Khyber Pakhtunkhwa and Gilgit-Baltistan under Auditor General of Pakistan (AGP).

The course was attended by the officers from governments of Khyber Pakhtunkhwa and Gilgit-Baltistan. Value for money has been defined as a utility derived from every purchase or every sum of money spent. Value for money is based not only on the minimum purchase price (economy) but also on the maximum efficiency and effectiveness of the purchase. The primary objective of this activity was to apprise the participants on how economically, efficiently and effectively (3Es) the departments and agencies may utilise public resources.

The concept of ‘Value for Money’ (VfM) in everyday life is easily understood as “not paying more for a good or service than its quality or availability justify”. In relation to public spending, it implies a concern with economy (cost minimisation), efficiency (output maximisation) and effectiveness (full attainment of the intended results). VFM is not only important from government point of view but it has a great relevance and importance to stakeholders - parliamentarian, PAC, donors, NGOs and general public.

It is the taxpayers’ money which has to be spent keeping in view 3Es.The participants were trained with skills, tools and techniques on how to improve value for money while dispensing the official business. Deliberations were also made on the responsibility and accountability and related governance patterns.

Moreover, a detailed discussion was made on organisational culture and ethical practices, roles and responsibilities framework in the public sector entities.

Comments