Faster payment plans pay off
PUBLISHED: 13 Jun 2024 at 05: 25
Finance Minister Pichai Chunhavajira claims that the government’s expense budget has been distributed in the second quarter of this fiscal year at about 40 %, nearly twice the target, as a result of the accelerated allocation measures.
Mr. Pichai said that the state funding budget’s motion has made it easier for money to flow more quickly in the economy after a conference of the Budget Disbursement and Public Spending Acceleration Committee, which he presided over.
In order to meet the goal of 70 % of the 850 billion bass budget, he said, work will be made to quicken the government agencies ‘ investment budget allocation in the remaining three weeks of this fiscal year.
The meeting was held yesterday at the Finance Ministry, and over 20 agencies, such as the Comptroller General’s Department, the State Enterprise Policy Office ( Sepo ), and various ministries, attended.
According to Mr. Pichai, investment projects are distributed across numerous organizations, and some require coordination with regional operational organizations to address administrative issues.
He also emphasised that common field purchasing must adhere to rules of justice, propriety, accountability, and compliance with the law.
Patricia Mongkhonvanit, producer- standard of the Comptroller General’s Department, said that the distribution goal for the second quarter was set at 21 %, but so far, 38.6 % has already been achieved.
However, some companies are also behind plan, and the financing minister has ordered them to reveal the difficulties.
According to Mrs. Patricia, the current focus is on accelerating funding for provincial clusters and government agencies that have n’t met their goals. The conference prioritized important departments with tasks over 10 billion baht because about ten ministers are lagging.
These ministers are required to report up to the Comptroller General’s Department within a year, especially the Interior Ministry, which oversees all municipal regions, to ensure rapid distribution.
She mentioned that the majority of ministries are still in the procurement process and have not signed contracts, with some ministries having trouble accessing project sites or getting the Budget Bureau’s approval for project changes. These ministries were urged by the meeting to act quickly in their respective departments to meet the disbursement goals.
Tibordee Wattanakul, Sepo’s director- general, said that for state enterprise investment budgets, which total 257 billion baht in fiscal 2024, his office aims for disbursement of no less than 95 % of the total investment budget. As of February, 51 % has been disbursed, higher than the 38 % in the previous year.
Mr. Tibordee claimed that the finance minister had urged all key ministries and state businesses to move more quickly.