The Minister of Finance, Seth Terkper disclosed this to the Public Accounts Committee (PAC) of Parliament when he was answering questions on issues contained in a recent Auditor General’s Report on financial management in his ministry.
He promised that, just as the government did with the tax laws which were passed by parliament, a PFM bill will come to the House for consideration.
“.. and we believe that this will improve the work of the finance and publics accounts committees of the house,” Mr Terkper said.
He also indicated that although the Auditor General’s report provided enough recommendations on how to resolve some of the identified financial mismanagement in public service, it does not mean nothing is being done.
He gave the assurance that when the Public Finance Management Bill is finally passed by parliament, it will help solve most of the problems the Ministry is having as far as financial management and misappropriation of funds are concern.