- A parliamentary budget office is likely to be established shortly, with two officials enjoying extensive power associated with the post.
The Sunday Times reports that the President has introduced a new bill to establish a parliamentary budget office with adequate powers to handle and analyze public finances.
It is stated that this powerful Parliamentary Budget Office is free of any judicial intervention and has the power to obtain information from any government agency and its employees at any time. In addition, the office is vested with the power to raise its own funds.
As the Minister of Finance, Economic Stabilization, and National Policy, President Ranil Wickremesinghe has recently submitted the bill to Parliament. The Sunday Times further stated that this new office will also be tasked with conducting an independent analysis of public financial liabilities and studying the country’s economic and financial impact.
The said budget office has the power to raise funds in the form of grants, donations, gifts, or otherwise for the purpose of establishment and functioning, and necessary provisions have been made to grant full indemnity from prosecution to the staff in the discharge of their duties.
It is stated that this powerful Parliamentary Budget Office is free of any judicial intervention and has the power to obtain information from any government agency and its employees at any time. In addition, the office is vested with the power to raise its own funds.
As the Minister of Finance, Economic Stabilization, and National Policy, President Ranil Wickremesinghe has recently submitted the bill to Parliament. The Sunday Times further stated that this new office will also be tasked with conducting an independent analysis of public financial liabilities and studying the country’s economic and financial impact.
The said budget office has the power to raise funds in the form of grants, donations, gifts, or otherwise for the purpose of establishment and functioning, and necessary provisions have been made to grant full indemnity from prosecution to the staff in the discharge of their duties.
Bona fides with respect to the duties performed by said committee are exempt from any action. It is stated that laws have also been made to exempt individuals from any form of responsibility for any omissions in the discharge of their lawful duties.
The two officers with relevant powers have been named Parliamentary Budget Officer and Deputy Budget Officer, and they are to be appointed by the President on the recommendations of the Constitutional Council. The Act has also proposed giving them sufficient powers to run a separate office in the Parliamentary Complex. These two officials should possess unblemished records and have at least 15 years of experience in public budget management. These two high-powered officials will be appointed for a five-year term.
The two officers with relevant powers have been named Parliamentary Budget Officer and Deputy Budget Officer, and they are to be appointed by the President on the recommendations of the Constitutional Council. The Act has also proposed giving them sufficient powers to run a separate office in the Parliamentary Complex. These two officials should possess unblemished records and have at least 15 years of experience in public budget management. These two high-powered officials will be appointed for a five-year term.
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