KABUL - The Ministry of Finance (MoF) Saturday announced the approval of the Public Financial Management Reform (PFMR) document which is aimed to reform government's financial sector and increase national income and revenue.
Once reforms are brought in government institutions, the national income will be increased, said Minister of Finance Eklil Hakimi.
Meanwhile, President Ashraf Ghani has said that the establishment of the Public Financial Management Strategy was a milestone in implementing reforms in the financial sector in the country.
The PFMR outlined by government is aimed at managing national budget allocations on the basis of national needs, execution of projects and helping the budgetary units report on their spending with clarity and transparency.
Ghani said that every government institution is responsible for implementing the rules contained in the document so that spending in government institutions is undertaken with clarity.
"We can not define the 80-20 formula in one certain field, 80 percent of the budget is spent by 20 percent of institutions, the government was formed to serve the people," said Ghani.
"The document enables us to improve the financial system in government institutions and several other institutions will be included in the financial reform agenda," said Hakimi.
Ghani also called on donors to allocate aid to projects needed by the people of Afghanistan.
"Our message is that every single project is not beneficial to us, our people's demand is that mega projects must be implemented," he said.(Tolonews)