Changes to State Finance Act Get Thumbs-Up

3 May 2011

Cabinet has approved the proposed amendments to the State Finance Act and authorised FinanceMinister Saara Kuugongelwa-Amadhila to submit the Layman’s Bill to the Cabinet Committee on Legislation and thereafter to Parliament.

Releasing the latest Cabinet decisions on Thursday, the Ministry of Information and Broadcasting said Cabinet approved the changes at its fifth ordinary meeting on March 29.

Government’s financial affairs are currently managed under the State Finance Act of 1991. The act was amended during in 1995. Over the years since 1995, it has been observed that the law still has some areas that need to be re-looked at in order to respond to the current situation of the economy.

Currently the scope of the act is not fully defined and there are a number of omissions regarding policy and management functions, the statement said. These include a lack of clear definitions of those responsible for the administration of certain functions, its relationship with each other and the extent of their mandate.

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