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Ministry of Finance Holds PIM Consultation

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Monrovia, Liberia - The Department of Budget and Development Planning at the Ministry of Finance and Development Planning, on Thursday October 6, 2022; held a one-day Public Investment Management Policy Development Stakeholders’ Consultation at the Corina Hotel, in Sinkor, to develop a public investment management policy for Liberia.

Speaking at the opening of the stakeholders’ consultation meeting, Emmanuel D. Williams, Director of Public Investment Unit who proxied for Deputy Finance Minister for Budget and Development Planning Hon. Tanneh Brunson, said the development of a Public Investment Management Policy is a critical part of Liberia's reform and the IMF’s structural benchmark.

“Developing this policy is important because it brings all the broken pieces and disjointed layers of Public Investment Management into one-fold for more effective planning, coordination, allocation, implementation and reporting’’, He added.

Mr. Williams further said the Department of Budget and Development Planning is tasked with coordinating the formulation and implementation of development plans and the efficient allocation and utilization of financial resources.

He urged participants of government agencies to think in terms of what is good for the country and not their personal interest.

“I urge everyone to participate in this very important process and contribute meaningfully in the interest of our nation”.

He explained that the development of the public investment management policy is directly related to function four of the department mandate which states: Prepare development plans and provide guidance to all government agencies for formulating development programs and projects.

The general objective of the public Investment Management policy reform is to develop a comprehensive policy and operational manual that will guide public investment management across government in Liberia.

The development of PIM policy is linked to the Ministry of Finance and Development Planning five--years strategic plan 2019-2023; SECTION 3: MFDP STRATEGIC PRIORITIES 2019 to 2023: PRIORITY PROGRAMMES. Program 4 states: Full Migration to the PAPD Framework: By 2022, roll out an integrated project pipeline through a restructured PSIP that reflects medium to long term commitments for external and domestically-financed investment spending—and that supports the regional development plans.

In attendance at the consultations were Directors of units at the Ministry of Finance and Development Planning and it is the beginning of a series of engagements with line Ministries and Agencies and Commissions in the development of the PIM Policy.

 

 

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