Amenah Pangandaman, the budget secretary, said on Thursday that she believes the Marcos administration's financial…
DBM will work to advance the PBBM’s top legislative priorities
On Tuesday, the Department of Budget and Management (DBM) vowed to promote the legislative agenda of the Marcos administration with all of its might.
The DBM stated in a statement that it will work closely with Congress to ensure that the government’s top priorities are passed this year.
This occurred as Congress reopened for business on Monday.
The National Government Rightsizing Program (NGRP), the Maharlika Investment Fund (MIF), the Budget and Treasury Management System (BTMS), and the Progressive Budgeting for Better and Modernized (PBBM) Governance Bill are some of the legislative reforms, according to the DBM.
To promote fiscal discipline in the allocation and utilization of budget resources, the PBBM Governance law aims to institutionalize the cash-based budgeting system, which was established by virtue of Executive Order 91 enacted in 2019.
The bill also attempts to guarantee the effective execution of government initiatives.
On the other side, the proposed BTMS is a crucial digitalization strategy that aims to enhance the Government Integrated Financial Management Information System.
As a central database, the BTMS will make it possible to map transactions in real time from purchase to payment.
The bill requesting the implementation of NGRP, a reform mechanism that will strengthen the government’s institutional capacity to perform its mandate and deliver better services while assuring the optimal and efficient use of resources, is the other priority initiative of the Marcos administration.
The comprehensive strategic evaluation of projects, programs, and functions that will straddle many agencies will be a part of the rightsizing initiatives.
The government is also working to create the nation’s first MIF, an independent fund that upholds the ideals of good governance, accountability, and openness.
The national government’s contributions, the announced dividends of the Bangko Sentral ng Pilipinas, investible money of specific government financial institutions, and other sources will all be used to create the planned wealth fund.
According to the DBM, the planned MIF “may be a powerful instrument to promote economic growth and enhance social development,” as stated by the nation’s economic administrators.
According to the statement, “this can also help in hastening the implementation of the government’s major infrastructure and high-profile projects that support the Philippine Development Plan.”
The government’s legislative reform plan, according to DBM Secretary Amenahh Pangandaman, will support “transparency, efficiency, and responsiveness” in the public sector.
“President Ferdinand R. Marcos Jr. stated in his budget message that his goal is to create a government workforce that is lean, effective, and responsive, “added Pangandaman.
“With the steadfast backing of our diligent parliamentarians, who likewise desire a well-functioning government that assures prompt and effective public service delivery, we can do this, she continued.
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