The Department of Finance led whole-of-government Public Expenditure and Financial Accounting (PEFA) review program in the second half of 2015, culminated in the public release of the PFM reform Road Map 2015-2018. It provides a comprehensive and sequenced program of reforms to be taken forward over the next three years.
The Financial Framework Review, since its inception in 2010, moved at a slow pace until this year (2016) when the pace has increased substantially. The FFR has took a holistic approach and comprised of reviews on Public Finance (Management) Act (PFMA) 1995, Financial Management Manual (FMM) and the Financial Instructions.
As part of the Implementation of PEFA Road Map reforms, the National Government through the National Executive Council (NEC) has finally approved an additional budget funding of K2million for the Financial Framework Review to support the Public Financial Management (PFM) reforms; (NEC Decision No: 288/2015 (gazetted)
A Technical Advisor to lead the Financial Framework Review (FFR) was engaged for 9 months by European Union after a diplomatic approach by the Government of PNG. The Department of Finance appreciates the level of assistance from the European Union, as well as other donor partners (Canberra Finance-Australia, Asian Development Bank, IMF), for the FFR project since inception
The FFR Project is guided by approved Terms of Reference. The FFR Project time-line is fixed and the draft Bill is expected to be introduced in Parliament in June Sittings – 2016 Parliamentary Calendar.
Members of the Technical Working Group comprised of the departments and agencies of Finance (Chair), Treasury, National Planning, Prime Minister & NEC, Personnel Management, Constitutional Law Reform Commission (CLRC), State Solicitor’s Office, Office of Auditor-General, Central Supply and Tender Board (CSTB), Works, Health, Education and a Representative of Provincial Treasurers.
The FFR Secretariat was established to provide high level of technical support to the FFR Project. It is comprised of key Technical Officers of the Department of Finance appointed by the Secretary, to undertake this very important national project.
The FFR Team has had several meetings with key state agencies outside of the normal TWG meetings, for example:-
For further information on the Government’s Public Finance Management Reform Project please contact the Financial Framework Review Secretariat on telephone numbers: 3288208, 3288606, 3288117, and 3288124