MoF takes steps to strengthen monitoring cell
Wednesday, 3 November 2010
FE Report
The Ministry of Finance (MoF) has undertaken steps to strengthen the monitoring cell of finance division in a bid to enhance its capacity of performance evaluation and financial management improvement of state-owned enterprises (SoEs).
A recent intra-departmental meeting of finance division, chaired by the finance secretary, proposed necessary steps after reviewing a concept paper that was prepared for enhancing monitoring cell's effectiveness and strength.
The monitoring cell was established on 1 July 1992 with a view to institutionalising the performance evaluation of SoEs and the process of continually upgrading their financial management.
The meeting asked for implementing modified recruitment policy that was sent to administrative branch-3 to ease promotion congestion of the monitoring cell. Besides, the speakers at the meeting proposed to abolish one of the two posts of computer programmer and convert it to a post of systems analyst.
Currently, there are seven vacant posts that need to be filled immediately including one computer programmer, three research officials, one senior computer operator, one research assistant and one MLSS.
The meeting also proposed to implement a digital network among SoEs and a knowledge base to aggregate information of SoEs' activities and accounts of income and expenditure so that they can be readily used by stakeholders, policymakers in decision making. Information collection process of the monitoring cell should be integrated into its website, the meeting also proposed.
To increase professionalism, the meeting proposed to ensure participation of monitoring cell officials in int'l training programmes.
The monitoring cell started its operation as a UN-funded project in 1985 which turned into a finance division organ in 1992 and is currently overseeing budgeting, adjusting and evaluating financial activities in line with government finance policy of 48 SoEs. Besides, it occasionally gives support to reform programmes taken by World Bank, IMF and ADB.
The Ministry of Finance (MoF) has undertaken steps to strengthen the monitoring cell of finance division in a bid to enhance its capacity of performance evaluation and financial management improvement of state-owned enterprises (SoEs).
A recent intra-departmental meeting of finance division, chaired by the finance secretary, proposed necessary steps after reviewing a concept paper that was prepared for enhancing monitoring cell's effectiveness and strength.
The monitoring cell was established on 1 July 1992 with a view to institutionalising the performance evaluation of SoEs and the process of continually upgrading their financial management.
The meeting asked for implementing modified recruitment policy that was sent to administrative branch-3 to ease promotion congestion of the monitoring cell. Besides, the speakers at the meeting proposed to abolish one of the two posts of computer programmer and convert it to a post of systems analyst.
Currently, there are seven vacant posts that need to be filled immediately including one computer programmer, three research officials, one senior computer operator, one research assistant and one MLSS.
The meeting also proposed to implement a digital network among SoEs and a knowledge base to aggregate information of SoEs' activities and accounts of income and expenditure so that they can be readily used by stakeholders, policymakers in decision making. Information collection process of the monitoring cell should be integrated into its website, the meeting also proposed.
To increase professionalism, the meeting proposed to ensure participation of monitoring cell officials in int'l training programmes.
The monitoring cell started its operation as a UN-funded project in 1985 which turned into a finance division organ in 1992 and is currently overseeing budgeting, adjusting and evaluating financial activities in line with government finance policy of 48 SoEs. Besides, it occasionally gives support to reform programmes taken by World Bank, IMF and ADB.