Saturday , September 22 2018

Finance Ministry to urge independent and govt agencies to control expenses

‘Ministry not an open treasury’

KUWAIT CITY, Sept 12: Ministry of Finance is considering informing a number of government and independent agencies about the need to avoid exceeding the amounts allocated to them in the budget, especially with current and future contracts, reports Aljarida daily.

According to sources from the ministry, this move is based on the policy of the ministry to control expenses and rationalize spending. They explained that the ministry will meet a number of representatives of those agencies to inform them to cut down expenses, as well as send statements of all the sources of revenues and expenses of this month.

The ministries must provide a statement on the contracts that they prepare periodically and the detailed plan based on which the construction and reforms projects are being implemented. This is in line with the rules for implementation of the budgets of government agencies issued by Ministry of Finance.

Minister of Finance Dr Nayef Al-Hajraf confirmed Wednesday the continuous efforts to find the root of squandering public funds in a bid to serve the interests of citizens, particularly the coming generations. Al-Hajraf made the statement in the first financial forum for 2018 organized by the Ministry of Finance with representatives of various public institutions in charge of the public budget in attendance.

The forum was aimed at urging the relevant institutions to be committed to the principles of drafting the budget, paying attention to the budgetary limits. Al-Hajraf asked the institutions to deal with the comments of the State Audit Bureau (SAB) and National Assembly as part of the enforcement of the relevant Cabinet decision.

He pointed out the ministry is not a treasury open for different institutions to spend whatever they want. He said the ministry is the State’s financial manager; indicating each institution must justify their demands in their own budgets and shoulder their responsibilities in front of the monitoring bodies.

He asserted everybody plays a crucial role in controlling State expenditures; clarifying that the role of the Ministry of Finance is limited to supervision, guidance and monitoring. He added the ministry and monitoring institutions are members of one team which is keen on executing the strategy of the State. Participants in the forum included Assistant Undersecretary for Public Budget Affairs Saleh Al-Sarawi, Assistant Undersecretary for Public Accounting Affairs Abdulghaffar Al-Awadi, and Secretary General of the Supreme Council for Planning and Development Dr Khalid Mahdi.

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