Thursday , December 13 2018

‘Finance’ urges all state bodies and ministries to avoid exceeding budget

KUWAIT CITY, Aug 4: Ministry of Finance stressed the importance for all state bodies and ministries to avoid exceeding the allocated budgets as part of the rationalization policy adopted by the government, reports Al-Rai daily.

The ministry declared to all public institutions and ministries via a circular that the public institutions, ministries and other departments and bodies that are financed by the public budget are not allowed to exceed the budgets fixed and allocated to them based on the general budget of 2017/2018 fiscal year.

It also banned any transition from one item to the other, and prevented any payments from the petty cash accounts without the permission of Ministry of Finance.

The circular asked different state bodies to empower/enable financial auditors to carry out their tasks based on law No. 23/2015, ensuring their independence while doing their tasks. The state bodies must facilitate their tasks and remove any obstacles that might curb the completion of their work.

The circular stressed that any amount paid illegally must be repaid, asking the monitoring bodies — State Audit Bureau and Financial Auditors Institution — to follow up the execution of this matter.

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