Construction of new buildings for Government institutions has been stopped for the next two years. In instances where the bulk of the work is complete, the Treasury will release funds to finalise such projects.
With regards to recurrent expenditure, the Finance Ministry has noted that while the Consolidated Fund gives a substantial amount of funds for the welfare of State sector workers.
The Finance Ministry has also instructed government institutions which have investments, such as fixed deposits, Treasury bills, etc., to utilise the income from those for their urgent financial needs instead of seeking money from the Treasury.
The institutional heads have been asked to submit their Budget estimates for 2021 and 2022-23 forecast by 15 September.
In preparing the Budget estimates, heads of institutions have been directed to focus on priority areas identified by the Government, such as rural economy, housing, education reforms, vocational training, infrastructure, rural roads, and small and medium enterprises (SME) development.
The Finance Ministry Secretary said all these programs are in keeping with the Government policy of providing prompt relief to the public, and instructed that all rural and regional offices be strengthened for the successful implementation of prudent fiscal policies.
(LIN)