FINANCE and Planning Minister Patrick Pruaitch announced last Friday the appointment of an important Government working group to develop a medium term financial management strategy paper.
“There is an urgent need to achieve fundamental improvement in the way we manage our public finances over the medium term,” Mr Pruaitch said.
“In terms of effectiveness, our expenditures are too often poorly directed and do not always follow Government priorities as set out in the medium term development strategy.
“Delivery of core services in many important sectors still leaves much to be desired.
“Many of our expenditures also involve considerable inefficiencies,” he said.
“There is considerable scope to save significant money by managing our finances more efficiently.
“After many financial scandals over the years, there is also a need to dramatically improve the integrity and transparency of our financial management so that the public could again be confident that their funds are being managed effectively and efficiently in a corruption-free environment.”
He said the working committee would address all aspects of our public financial management system at national, provincial and local government levels.