2019/2020 National Budget: Government to reform State and public enterprise
8 June, 2019, 1:20 am
GOVERNMENT is reforming State and public enterprise to make them more customer-oriented, profitable and efficient, Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum said while delivering the 2019/2020 Budget address last night.
“Just last week, we announced the reform of our secure transaction framework and the launch of the personal property security registry which makes it easier for our people to use the access to secure loans,” Mr Sayed-Khaiyum said.
He said it meant easier access to finances, in particular for small to medium enterprises to make investments at lower cost with greater efficiency.
“Since these loans at the end of May, over 7000 loan entries have been reloaded onto the online registry.
“We are also conducting a review of the Financial Management Act 2004, or the FMA as it is commonly known, to make some key changes that enhance higher expectation of transparency and accountability in the modern economy.
“Every year, before the budget announcement, government must table a broad fiscal framework that sets the stage for budget preparation which is what we are going to implement thereby building accountability.”
He said the government of the day would also be required to provide a pre-election economic and fiscal update on the state of the economy.
“That update must be made publicly available at least 20 days before the polling dates.”
* Stay with us as we bring you brief updates from the 2019/2020 National Budget. More detailed reports will be published in tomorrow’s edition of The Fiji Times and also in our e-Edition