Finance Ministry highlights expenditure reduction

Manama, The Ministry of Finance today briefed management-level officials on the measures underway to reduce government operational expenditures.

The briefing followed a directive issued by the Ministerial Committee for Financial Affairs instructing government departments to begin implementing the Fiscal Balance Program.

The briefing detailed the measures being undertaken by the government, including the establishment of six government task forces. These task forces will be responsible for setting criteria for the procurement of standard products and services, as well as for evaluating all spending requests by government entities.

The briefing also addressed the mechanism by which the task forces will operate. Government entities will submit all purchase requests to the Ministry of Finance who will in turn send them to the Ministerial Committee for Financial Affairs for initial review.

The Ministry of Finance will then send the purchase requests to the relevant task force. Task forces, in collaboration with the Assistant Undersecretary for Joint Financial Services at the Ministry of Finance, will review the purchase requests and submit their recommendations to the Ministry of Finance. The Ministry of Finance will then submit the task force's recommendations to the Ministerial Committee for Financial Affairs, which will make the final decision.

Source: Bahrain News Agency