Banking & Finance

DBM adopts More Government Budgetary, Fiscal Reforms

Date: 23 November 2018; Type: Legal News; Source: Philippine News Agency

TAGAYTAY CITY, Nov 23 (PNA) - The Department of Budget and Management (DBM) is adopting more budgetary and fiscal reforms for an innovative, effective, and responsive government in the long term, Budget Secretary Benjamin E. Diokno said on Thursday.

The reforms include the budget and treasury management system; modernized Philippine government procurement system; and Project DIME or the Digital Imaging for Monitoring and Evaluation, Diokno said during the opening ceremony of the “International Conference on Public Sector Productivity”, hosted by the Development Academy of the Philippines (DAP) and the Asian Productivity Organization (APO) at the DAP Conference Center here.

“This event is very timely given the reforms under the Duterte administration are internally implemented for more innovative, effective and responsive government in the long-term,” he said.

The budget chief told some 200 delegates composed of national and local executives, economic and industry experts and public sector analysts that innovation is important.

A public sector that will not adapt to changing circumstances will become too rigid, rendering it incapacitated in delivering public goods and services, resolving complex problems, and achieving national development goals, he said.

To change the way of doing things, Diokno said the DBM has introduced budgetary and fiscal reforms after assessing that the country’s public financial management (PFM) system is highly fragmented with thousands of spending units.

He said the Budget and Treasury Management System is aimed at eliminating multiple stand-alone systems that are used for different PFM activities, including accounting and fiscal reporting and provide real-time online monitoring on budget information.

It also aims to standardize and automate processes, formats, and reporting across the national government and consolidate government-wide reports for a systematic, real-time reporting of all revenues, expenditures and liabilities.

He said the budget and management department is undertaking to modernize the Philippine Government Electronic Procurement System (MPhilGEPS) in a bid to set in place a single, central electronic portal that will serve as the primary and definitive source of information for government procurement using cloud-based technology, a reliable system for various users.

The MPhilGEPS is the modernized upgraded system that aims to replace the old practice of posting of bids and awards, notices, and uploading of eligibility documents. It includes an e-bidding and e-reverse auction functionality to make procurement more transparent.

“To complement this, the new electronic procurement system would now be using a platform for online shopping for common-use supplies and equipment with an e-wallet and virtual store,” he explained.

The DBM secretary also introduced Project DIME, which will be adopted to monitor selected high-value government projects by comparing fund use vis-à-vis physical accomplishment to instill transparency and accountability, such the use of drones, LIDARs and satellites.

Project DIME was hatched to verify that the people’s money is well-spent in the provision of goods and services and that this will also assist the implementing agencies in the provision of their programs, activities and projects.

“We are making headway in training personnel in agencies about Project DIME in utilizing the technologies provided to us by the Department of Science and Technology (DOST), specifically on the use of various imaging technologies and geo-tagging applications,” Diokno said.

He said the DIME project technology is necessary, especially in overseeing projects in remote areas wherein in-person physical inspection would prove difficult.

Citizens in the vicinity are also engaged to ensure implementing agencies are accountable for their unfinished projects because they are encouraged to upload photographs of the projects with the date, time and even the GPS coordinates to the DIME portal.

He also assured to institutionalize two budgetary and fiscal reforms through legislative measures, such as the Budget Modernization Bill and the Government Rightsizing Bill that would be permanent before President Rodrigo Duterte’s term ends by 2022.

“The budget modernization bill is meant to strengthen the government’s accountability to the people for the use of public funds through greater transparency,” Diokno said.

He confirmed that the budget reforms thus far established would be irreversible; set more results-focused budgeting system; strengthen discipline in government to implement the annual budget as legislated; and increases the capacity of government to implement projects, activities and programs.

On the other hand, the government rightsizing bill enhances its institutional capacity and delivery of public services.

The bill includes the elimination of functions, programs and projects that are already redundant or no longer needed, as well as the abolition of agencies with overlapping or redundant operations and functions.

According to Diokno, both bills, which have already passed the third and final reading at the House of Representatives, are in the period of interpellation at the Senate.

Notice: The Publishers of Asean LIP acknowledge the permission granted by the relevant official/ original source for the reproduction of the above/ attached materials. You shall not reproduce the above/ attached materials in whole or in part without the prior written consent of the Publishers and/or the original/ official source. Neither the Publishers nor the official/ original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/ attached materials. The Publishers and the official/ original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, Asean LIP and contents herein are subject to the Terms of Use.

Get ASEAN LAW ALERT

Legal updates by e-mail. It's Free.

INDUSTRY UPDATES

MAS scores, sets Benchmark for Others

The Monetary Authority of Singapore's (MAS) enforcement report has revealed how it polices the financial markets under its charge, and is a welcome indicator of the greater openness the market has long sought, as the report mainly focused on market abuse, financial services misconduct, and money laundering-related control breaches.

Read More

INDUSTRY UPDATES

PRRD terminates Appointment of GRP Panel Members

MANILA, Mar 20 (PNA) - Malacañang on Wednesday confirmed the termination of the appointments of government peace negotiators with communist rebels "in view of the termination of the peace negotiations" with the Communist Party of the Philippines-New People's Army-National Democratic Front (CPP-NPA-NDF).

Read More

INDUSTRY UPDATES

Malanjum keeping Mum about his Successor

KUALA LUMPUR, Mar 20 (Bernama) - Chief Justice Tan Sri Richard Malanjum, who is due for compulsory retirement in April only smiled broadly and chose to remain secretive when asked about his successor.

Read More

INDUSTRY UPDATES

MP Noh Omar expelled from Dewan Rakyat for Three Days

KUALA LUMPUR, Mar 19 (Bernama) - Tanjung Karang MP Tan Sri Noh Omar has been expelled from the Dewan Rakyat for three days from today.

Read More

INDUSTRY UPDATES

ICC Prosecutors to be deported if they Probe Drug War

MANILA, Mar 18 (PNA) - Prosecutors of the International Criminal Court (ICC), who will enter the Philippines to investigate the Duterte administration’s war on drugs, may be deported, Malacañang said on Monday.

Read More

INDUSTRY UPDATES

Selangor wants tougher Environmental Laws

SHAH ALAM, Mar 17 (Bernama) - The Selangor government wants to enforce more stringent laws to address issues related to environmental pollution in the state, said Menteri Besar Amirudin Shari.

Read More

INDUSTRY UPDATES

Rosmah's Graft Case transferred to High Court

KUALA LUMPUR, Mar 15 (Bernama) - The High Court here today allowed the prosecution's application to transfer from the Sessions Court to the High Court the case involving two graft charges filed against Datin Seri Rosmah Mansor, who is the wife of former Prime Minister Datuk Seri Najib Tun Razak.

Read More

INDUSTRY UPDATES

IBP condemns Slay of another Lawyer in DavNor

MANILA, Mar 14 (PNA) - The Integrated Bar of the Philippines (IBP) on Thursday urged authorities to take action on the latest killing of a lawyer, Rex Jasper Lopoz, who was gunned down last March 13 in front of a shopping mall in Tagum City, Davao del Norte.

Read More

INDUSTRY UPDATES

IPOPHL brings IP-focused MCLE Program to Cebu

MANILA, Mar 14 (PNA) - The Intellectual Property Office of the Philippines (IPOPHL) will be mounting the 2019 edition of the Mandatory Continuing Legal Education (MCLE) this March in Cebu, to expand its education drive and reach out to IP practitioners in the Visayas.

Read More

INDUSTRY UPDATES

ASEAN aims at creating Future Digitally-Skilled Youths

Jakarta, Mar 14 (ANTARA) - Seven ASEAN member states, through the ASEAN Digital Innovation Programme initiated by the ASEAN Foundation in collaboration with Microsoft, aim to create digitally-skilled youths prepared to tackle challenges of the digital workspace in future.

Read More

INDUSTRY UPDATES

Tanintharyi Landholders sued under New Law

Local government officials and companies are already using the recently amended land law to remove villagers from disputed land, according to lawyers in southern Myanmar.

Read More

INDUSTRY UPDATES

SC to facilitate Greater Investor Inclusiveness

KUALA LUMPUR, March 14 (Bernama) - Opening local corporate bonds and sukuk to retail investors who meet the requirements set are among the steps taken by the Securities Commission Malaysia (SC) to promote investors inclusiveness in the local market.

Read More

INDUSTRY UPDATES

SC aims Further Expansion of Islamic Capital Market, says Chairman

KUALA LUMPUR, March 14 (Bernama) - The Securities Commission (SC), the regulatory body of the capital market, aim to foster growth that is premised on long-term value creation by intensifying efforts to further expand the Islamic capital market as well as the closely-linked sustainable finance segment.

Read More

INDUSTRY UPDATES

National E-Document Exchange Platform launched

Hanoi, Mar 12 (VNA) - The Government Office held a ceremony in Hanoi on March 12 to launch the National E-Document Exchange Platform, a move towards a digital government and economy.

Read More

INDUSTRY UPDATES

Cabinet approves 5Bn Baht Agro Subsidies

BANGKOK, Mar 13 (NNT) - The weekly Cabinet meeting has allocated another five billion baht to support rice agriculture during the current production year.

Read More