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Bahrain to get tough on public spending

Manama, January 4, 2011

Tough new auditing measures are on the way in Bahrain to prevent any public money being squandered.

Strict and extensive self-auditing procedures will be enforced in government departments to ensure money is spent according to plans and none is misspent.

The move was revealed yesterday as His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa received His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Economic Development Board chairman.

'The government is resolved to enforce tougher internal auditing procedures to avert any waste of public money,' they said.

'The measures aim to protect public money, deter any tampering and crackdown on excessive spending.

'His Majesty King Hamad's trust in the government pushes us to be tougher and keener, particularly when it comes to promoting and protecting resources,' they said.

They pledged to develop government resources to cater to development needs and improve citizens' living standards.

'The government does not tolerate any spending packages other than those approved in the budget,' they said.

They also reiterated their resolve to protect Bahrain's competitiveness and openness and consolidate its economic and trade liberalisation.

'The policy of openness is irreversible and can't be rolled back - being an enriching economic pillar and a driving force of growth,' they said.

They stressed resolve to follow up impediments, likely to curb procedures or legislations, pledging constant review of elements serving economic growth.-TradeArabia News Service




Tags: Bahrain | economy | investment | finance | Spending | audit | public money |

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