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Politics News

House passes Public Financial Management Act of 2009

The House of Representatives has passed the Public Financial Management Act of 2009 and forwards same to the Senate for concurrence. According to report from the House’s committee on Ways, Means Finance, as per the mandate of plenary, they conducted a vigorous and thorough scrutiny of the draft legislation consistent with rule 52.4 of the House’s rules and procedures through public hearing and consultations and implementation framework analysis by the Ministry of Finance
and Development Planning.

At those hearing testimonies, views and concerns were gathered from the Ministry of Finance and Development Planning supported by public financial experts and past experienced comptrollers and officials of government.

After these consultations and public hearings, the committee notes that the bill, when enacted, will make more pronounced the effectiveness and efficiency of the public financial management system here.

It also states it will strengthen legislative oversight on all sectors of the government, including the Central Bank of Liberia, and provide a strong and effective internal control of the government budget preparation, execution and accounting processes, in which the office of the comptroller and accountant general would have direct control over all comptrollers and accountants in line ministries and agencies, among others.

By Bridgett Milton–Editing by Jonathan Browne

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The New Dawn is Liberia’s Truly Independent Newspaper Published by Searchlight Communications Inc. Established on November 16, 2009, with its first hard copy publication on January 22, 2010. The office is located on UN Drive in Monrovia Liberia. The New Dawn is bilingual (both English & French).
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