Bank-of-Tanzania

Tanzanian Vice-President Samia Suluhu Hassan on Tuesday launched the 5th phase of the public finance management reform program aimed at improving management of public funds.

“Improved public management of funds is key to achieving sound macro and micro-economic results for poverty alleviation,” Samia said in the political capital Dodoma.

The program estimated to cost 7.5 million U.S. dollars will be implemented in five years from 2017/18 to 2021/22 by putting in place proper ways to mobilize, utilize and allocate resources to improve proper public funds management to ensure finances were well managed to achieve sound results.

The official said the launch of the program created a base for the achievement of various development targets.

She said a robust public fund management system was key to development, adding that the government will scale up resources mobilization, including tax and non-tax revenues to promote financial discipline and tame corruption.

“We in the government re-affirm our commitment to continue working with all stakeholders to ensure that public fund management is not just the program but a way in which the government should operate,” she said.

She said the government will continue cutting unnecessary spending and acquire new technology in managing public finances.

Philip Mpango, the Minister for Finance and Planning, said the launch of program was an indication of the commitment by President John Magufuli’s administration to ensure public funds were well managed.

Mpango said various achievements have been made since 1998 when the first phase started to be implemented, including legal reforms, improvement of budgeting processes and the establishment of the Internal Auditor General’s office. Enditem

Source: Xinhua/NewsGhana.com.gh

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