Govt units face cuts after appeals for budget boosts
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Some ministries and government offices, which request for an increase of budget allowance for the 2014-2015 fiscal year, may need to scale back their spending schemes.
Their spending plans were recently scrutinised and the proposal to cut the additional budgets would be approved by the parliament in the second week of November, according to members from the Public Accounts Committee of the Lower House.
It is found that some made additional budget requests which are more than 10 per cent of original budget allowance. Particular scrutiny was focused on the Nay Pyi Taw Development Committee and the Office of Auditor-General of the Union. After a negotiation, they agreed to cut their budget requests, said Nyi Nyi Myint, a member of the Public Accounts Committee.
Sai Thiha Kyaw, another member, said: “We made coordination with the ministries that asked for additional budgets. The committee has discussed with the ministries ways to reduce the additional budgets at the parliament. And the additional matters were discussed on November 10. The Additional Budget Bill will be approved in the second week of November.”
The Public Accounts Committee has proposed that the parliament cut Ks 92 million from the additional budgets of the Office of the Auditor-General of the Union and Ks 1.86 billion from the Nay Pyi Taw Development Committee.
Others in this category are the Ministry of Home Affairs, the Ministry of Cooperatives, the Ministry of Environmental Conservation and Forestry, the Ministry of Mines, and the Ministry of Hotels and Tourism.
Altogether, ministries and government units proposed additional spending of Ks 2.67 trillion. Of total, Ks 535.4 billion will be used to repay loan and interest, while Ks 102.65 billion geared for assistance to regional/state organisations.
In the 2013-14 fiscal year, Myanmar had revenue of more than Ks 16 trillion against Ks 19 trillion in spending, leaving a deficit of nearly Ks 3 trillion.
The spending was slightly increased to Ks 19.29 trillion in the 2014-15 fiscal year, equivalent to 29.15 per cent of GDP. The government expected the fiscal deficit of Ks 2.75 trillion in the fiscal year.
Of total, the Defence Ministry asked for a budget of Ks 2.4 trillion or US$2.4 billion for the 2014-15 fiscal year, against $2.2 billion in the 2013-2014 fiscal year.
