Yesterday afternoon's session has approved the budget allocation for the Prime Minister's Office and the departments under it for the Financial Year 2018/2019, which was over 537 million dollars. The council also deliberated the Ministry of Finance's budget focus and priorities for the Financial Year 2018/2019. Yang Berhormat Dato Seri Paduka Dr. Awang Haji Mohd Amin Liew bin Abdullah, Second Minister of Finance deliberated the budget proposal of over 747 million dollars.

The Second Minister of Finance said for the Financial Year 2018/2019, the Ministry of Finance's budget focus is to improve the public and private sector's productivity level, through the provision of services, facilities and infrastructures that can contribute towards the nation's economy sustainably. Therefore, the Ministry of Finance's action plan will be more towards the measures as follow; Improve efforts to reduce revenue arrears from any related parties to the government; Improve efforts to raise government revenue by strengthening revenue collection monitoring and management, as well as review new potential sources of revenue without affecting the low-income group; Ensure that expenses are according to the plan and revenues obtained based on the stipulated Key Performance Indicators, KPI, and finally; Ensure that the payment process is in order and in line with the Client's Charter. Therefore, for the Financial Year 2018-2019, the proposed budget allocation for the Ministry of Finance and its departments is 747 million 328 thousand and 313 dollars. Meanwhile, another 5 million dollars and planning cost of 10 million dollars have been allocated for the setting up of the Brunei Darussalam stock exchange which is currently ongoing.

Source:
@BRUDIRECT.COM

by BruDirect.com

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