Six task forces formed to reduce expenditure | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Six task forces formed to reduce expenditure

Deputy Prime Minister and Chairman of the Ministerial Committee for Financial Affairs and Rationalising Expenditure Shaikh Khalid bin Abdullah Al Khalifa yesterday announced forming six task forces to cut down the government’s operational expenses.

An edict 2/2018 authorising the formation of the task force has been issued. Pursuant to this edict, Shaikh Khalid issued circular 3 / 2018 on the regulations of disbursement of operational expenditure. The initiative aims to reduce the government’s operational expenditure to achieve a balance between expenditure and government revenues by 2022 and contribute to the sustainability and stability of the financial situation.

The circular includes updated procedures for requests which shall be referred to the Ministry of Finance after following the approved internal regulations and filling out the form of the purchase orders on the central financial system. The Ministry of Finance, then, shall submit the requests to the Ministerial Committee for Financial Affairs and Rationalising Expenditure for the initial review. The Ministry of Finance will, then, forward the requests to the respective operational expenditure task forces.

After a study in coordination with the Ministry of Finance Assistant Undersecretary for Joint Financial Services, the Ministry of Finance shall receive the recommendations of the teams and prepare the necessary reports thereon to be submitted to the Ministerial Committee for Financial Affairs and Rationalising expenditure for a final decision to be taken.

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