The Ministry of Finance, Economic Stabilisation, and National Policy has released a comprehensive circular aimed at tightening the reins on state institutions' spending.
The directive addresses various aspects, including overtime payments, travel allowances, and welfare expenses.
Highlighting the challenging economic climate, the Finance Ministry emphasized the critical need for fiscal prudence due to increased public expenditure and limited government revenue. In the pursuit of short-term economic recovery plans, the circular underscores the imperative of stringent adherence to regulations and circulars designed to curtail costs.
The directive explicitly prohibits the use of government funds for organizing festivals, gatherings, exhibitions, convocations, opening ceremonies, conferences, unless specified in the annual estimates as national festivals with allocated provisions.
Furthermore, the circular emphasizes early identification of needs to avoid abrupt purchases, with procurement activities mandated to align with approved plans to minimize delays.
Notably, the document also imposes a freeze on new recruitments for essential positions, requiring the explicit approval of the Management Services Department before any hiring can proceed. This comprehensive approach reflects the government's commitment to cost control and financial discipline in the current economic context.
