Newly appointed Finance Services Bureau (DSF) Director Stephen Iong Kong Leong said on Thursday that the government would start consulting the public on Tuesday about the government’s budget framework bill.
Speaking to reporters after his swearing-in ceremony, Iong said the consultation period would last for 45 days, adding that a public presentation about the bill had been scheduled for the middle of the month.
Iong said the bill includes funding rules for specific uses, adding that it also proposes mid-term reports about the spending of public funds.
This came after years of public criticism of misuse of government funding and the government’s failure to keep track of the way public money is spent, namely overspending on public infrastructure projects such as the Light Rail Transit (LRT).
Iong also said the budget framework bill would also include specific rules on the government’s investments.
Meanwhile, Iong also said one of his tasks was to amend the regulations for local accountants. He said the possible amendments concerned accountants’ professional qualifications and their internship requirements, adding that both amendment bills were expected to be submitted to the legislature for debate and vote later this year.
The budget framework bill, if passed by the legislature, would replace legislation enacted in 1983. (macaunews/macaupost)