Government of the Punjab established a Debt Management Unit in Finance Department during fiscal year 2015 - 2016 for developing and implementing a comprehensive plan for management of sub-national debt. This entails raising the required amount of borrowing at low cost, diversifying the sources of borrowing, and maintaining a maturity profile that avoids excessive repayments in any one year.
The functions performed by this unit are:
- Preparation and execution of debt management strategy
- Developing an automated database of debt and guarantees
- Developing and implementing the policies and procedures necessary for sound administration of debt
- Assisting Government of the Punjab in developing and implementing a legislative framework for effective debt management