Finance Ministry Implements Strict Measures to Curb Additional Expenses

MV+ News Desk | February 24, 2024
Photo: People’s Majilis

The Ministry of Finance has announced stringent measures aimed at curbing additional expenses in line with the state budget for the current fiscal year. 

A circular issued by the Ministry outlines various directives to be adhered to by government bodies, with the overarching goal of fiscal discipline.

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One of the key directives stipulates that any recruitment of new personnel by government entities must be pre-approved by the Ministry of Finance. This measure aims to regulate workforce expansion and ensure that hiring decisions align with budgetary constraints.

Furthermore, the circular emphasises the necessity for prior approval from the Ministry for any adjustments to employee salaries or the introduction of new allowances. This includes adhering to the salaries and allowances allocated in the current budget without deviation.

In addition to personnel-related measures, the Ministry has instructed government agencies to refrain from conducting non-essential work during overtime hours, aside from essential tasks outlined in official working schedules.

The circular also highlights several key points, including the requirement for prior approval from the Ministry for official trips abroad, restrictions on the issuance of new scholarships, limitations on expenditure for repairs unless permitted from the recurrent budget, and the necessity for Ministry approval for promotions.

These measures come amidst broader efforts by the government to reduce expenditure and streamline budgetary allocations. President Dr. Mohamed Muizzu has underscored the importance of financial prudence, particularly in controlling subsidy costs while ensuring targeted assistance for those most in need.

The Ministry’s proactive steps reflect a commitment to bolstering the state’s financial position and implementing measures to stabilise expenses in accordance with the prevailing economic climate.

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