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Discussion on management of public resources

A draft report assessing Sri Lanka's management of public resources will come under discussion at a Workshop today, at the World Trade Centre (36th Floor, East Tower), with stakeholders from the government, parliament, academic institutes, media and civil society, the World Bank said yesterday.

The "Country Financial Accountability Assessment", was undertaken by a team comprising government and World Bank officials. Workshop participants will consider how its main findings and recommendations can be integrated into the government's ongoing programme of fiscal and financial management reform.

Sri Lanka's far-reaching programme aims to reform its financial budgeting, accounting, reporting and monitoring to make them serve the development process more efficiently, and to strengthen the oversight agencies such as the Auditor General's Department, Committee on Public Accounts and Committee on Public Enterprises, including citizen's access to financial information of the government and state run organisations.

The Assessment emphasizes the importance of taking actions that both stimulate demand for prudent financial management and build capacity of the government to respond to the public's requirements for more efficient and effective delivery of services. Much stress is placed on an action oriented approach for strengthening public financial accountability and management that is crucial for economic growth and sustaining a strong economy.

The Assessment makes a number of recommendations for strengthening the primary institutions of public financial accountability. The effectiveness of parliamentary committees, such as the Committee on Public Accounts and Public Enterprises, will improve with greater public access to hearings in Parliament.

"The World Bank will support initiatives aimed at developing an action plan for better management of all public resources. Donors prefer to rely on the government's own financial management and accountability systems rather than impose their controls and reporting requirements on a project by project basis.

The World Bank will provide technical and financial assistance that may be necessary for implementing the final recommendations of the Assessment", said Peter Harrold, World Bank Country Director for Sri Lanka.

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