– Actgn. Min. Wolokolie
The Government of Liberia through the Ministry of Finance and Development Planning has achieved transformative development namely regularization of payrolls, prudent cash management process, tax policy reform, and financial reporting.
Acting Minister of Finance and Development Planning, Dr. Samora P. Z Wolokolie made the disclosure at the MICAT regular press briefing on Thursday in Monrovia.
He acknowledged the leadership of Hon. Samuel D. Tweah Jr. for leading the team at the Ministry of Finance and Development Planning to a successful transformative development process.
He said the government has successfully cleared the “backlog” of unpaid salaries, regularization of salary payment, and took proactive steps to clean the payroll of any defects.
He commended the Civil Servant Agency (CSA) team for the collaboration done with the Ministry of Finance and development planning and the Internal Audit Agency (IAA)
Dr. Wolokolie revealed that in order to strengthen fiscal transparency at the Ministry of Finance and Development Planning; the ministry has embarked on a first in first out (FIFO) approval process at the cash management and financial approval unit.
He explained that the FIFO approval process will enable ministries and agencies to receive alerts or cell payments whenever payments are approved in the financial budget.
However, he indicated that the ministry has embarked on a working relationship with the Internal Audit Agency (IAA) to improve on the Public Financial Management (PFM) reinforcement by also fast-tracking the payment process flow.
He said in order to foster fiscal transparency, a weekly fiscal report is published on the ministry of finance and development planning website that details the inflow and outflow of government budget execution.https://thenewdawnliberia.com/tax-reform-digitisation-key-to-financing-development/