The Public Finance Management Amendment Bill of 2021 which aims to amend the Public Finance Management Act and align it to the constitution has been described as an important piece of legislation that will help in the fight against corruption in the country.
Corruption in public finance management remains a major cause for concern as the country seeks to create a corruption free nation.
In this vein, the Public Finance Management Amendment Bill of 2021 that aims to enhance transparency and accountability in the management of public resources stands to be an important piece of legislation in the country’s quest to ensure financial prudence in all sectors of the economy including parastatals and state entities.
In an interview on the sidelines of a workshop to unpack the Bill in Mutare this Saturday, Zimbabwe Anti-Corruption Commission spokesperson Commissioner John Makamure noted the importance of legislative reforms in the fight against graft.
“Zimbabwe Anti-Corruption Commission has identified public finance management as one of the areas highly prone to corruption. We did a study on the impact of corruption in public financial management and our findings pointed out to staggering levels of corruption.
“So the start of point is to have a very important piece of legislation. So we are participating in this workshop with a view to ensure that parliament is going to pass us a progressive piece of legislation,” said Mr Makamure.
For theParliamentary portfolio committee on Budget, Finance and Economic Development and Public Accounts, unpackingthe bill is a continuous and important process for the country.
The Chairperson Parliamentary Portfolio Committee on Budget, Finance And Economic Development, Honourable Dr Matthew Nyashanu, said, “It is a continuous process of making sure that we enhance our Public Finance Management Act. We have to ensure that the Public Finance Management Act itself is water tight in many areas.
“The two committees need to understand the Bill as they are key in the formulation of this Bill. The unpacking of the Bill to the committees will help in fostering appropriate recommendations.”
The Second Republic seeks to improve the management of public resources, which is key for the country to achieve an upper middle income economy by 2030.