House To Begin Budget Performance Report Hearing
The House of Representatives Committee on Ways, Means and Finance is expected to begin budget performance report hearing at the Capitol Building for various line ministries and agencies shortly.
According to a release from the House’s Press and Public Affairs, the purpose of the hearing is to review the spending of public funds by these entities to ensure that they are fulfilling their objectives in an efficient and effective manner. This involves assessment of whether the SOEs and agencies are using the resources allocated to them in the budget appropriately and achieving the expected results.
The hearing will focus on the entities’ performances for FY-2022 Consolidated Report, FY-2023 First Quarter Report and FY-2023 Revenue Performance to-date (for revenue-generating agencies only).
The appearance of SOEs is consistent with Section 8a of the Budget Law 2023.
The hearing, which kicks off on Thursday, May 25, 2023 will see the following institutions appearing: Liberia Revenue Authority (LRA), Ministry of Finance and Development Planning (MFDP) and the Bureau of State Enterprises; Friday, May 26: Liberia Telecommunications Authority (LTA), Liberia Immigration Service (LIS) and National Road Fund (NRF); Monday, May29: Liberia Maritime Authority (LiMA), Labor, Mines & Energy ministries, and the Forestry Development Authority (FDA); Tuesday, May 30: Ministry of Justice (MOJ), National Port Authority (NPA), Liberia Petroleum Refinery Company (LPRC) and the National Fishery and Aquaculture Authority (NaFAA); and May 31: Health (MOH), National Public Health Institute (NPHIL) and the Ministry of Education (MOE).
The committee will climax the hearing on June 1, with the appearance of the Ministry of Commerce (MOCI), Ministry of Agriculture (MOA), and Ministry of Public Works (MPW).
Meanwhile the Committee says the failure of any agency to attend will bring into application sections F & G of the Budget Law 2023 along with other available sanctions as expressed in the Public Financial Act and the House’s Rules and Procedures.