By Bill W. Cooper
The Minister of Finance Development Planning has announced that no minister will take pay without submitting financial their financial performance reports for the accounting period.
Minister Samuel Tweah declared that his ministry will no longer tolerate any form of financial misconduct from ministers of government, thus threatening to withhold the salaries of those who will renege on making their financial performance report.
He made the statement yesterday, May 5, 2023 when the European Union (EU) and Government of Liberian signed four new support programs worth about 80 million euros.
The support program will kick-start the new phase of EU-Liberia development partnership from 2021 to 2025, totaling 191 million euros of US$220 million.
The official signing ceremony took place during the commemoration of the 50th Anniversary of EU- Liberia relations.
In in 1973, the Commission of the European Economic Community established its first office in Liberia, which has since been upgraded to a full diplomatic mission, with delegations of the European Union to the Republic of Liberia.
The agreement is focused in five key areas such as strengthening inclusive and accountable democracy in Liberia-US$16.5 million; Youth Rising: EU Support to Technical and Vocational Education and Training (TVET) for Young People in Liberia-US$31 million; from productivity to product, linking peers to peers (P2P)- US$24 million and Forestry and Conservation for a sustainable economic development- US$16.5 million.
According to Minister Tweah, the Public Financial Management Law gives him the authority to hold back salaries of Government officials who refuses to make financial report on allotments received from the National budget.
He said the internal auditors have found it difficult to audit the books of ministries and agencies due to the lack of reports on the spending of public funds, and as such, the need for these heads government to submit its financial performance report cannot be overemphasized.
He maintained, “So, going forward, all ministers and heads of government institutions will be obligated to make their financial performance reports to the Ministry of Finance and Development Planning before receiving salaries for the ensuing month.”
“Failure of minister and heads of agencies to submit their financial reports has become a major concern for the government as they are required to submit their financial reports on a monthly basis, but most of them have failed to do so,” Minister Tweah observed.
The Minister explained that financial reports are important because they help the government to track the performance of various ministries and agencies as well as also helps them to monitor the flow of funds and ensure that they are being used in the right way.
He warned that ministers who fail to submit their financial report on time will face serious consequences, adding they would not be allowed to take their pay until they have submitted their financial report.
“This is intended to ensure that ministers take their financial reporting responsibilities serious and comply with the rules, and I hope that my colleagues will abide by the decision to ensure that the country’s economy is on the right path, Minister Tweah noted.
