Press briefing of Cabinet Decision taken on 2022-10-17

Public Assets Management Bill

- In the Budget Speech made by the Hon. President for the amendment of the Appropriation Act in respect of the financial year 2022, it was pointed out the necessity of introducing several new Acts and revising provisions of several existing Acts with the aim of building a strong economy, increasing the efficiency of the public service and managing the state resources effectively. As such, the Cabinet approved the proposal made by the Hon. President, in his capacity as the Minister of Finance, Economic Stabilization and National Policies, to instruct the Legal Draftsman to draft a Bill for Public Assets Management, incorporating appropriate provisions enabling to expand the duties of the Comptroller General's Office which is under the purview of the General Treasury and provide legal status to the said office, compile a National Assets Register and introduce a central data base relating to public assets.