Friday Nov 08, 2024
FT
Friday Nov 08, 2024
Wednesday, 10 January 2024 00:20 - - {{hitsCtrl.values.hits}}
In compliance with Article 154 R (7) of the Constitution, the Cabinet of Ministers approved the submission of the Financial Commission’s report concerning 2024, along with the approved recommendations, to the Parliament.
“This step ensures transparency and Parliamentary oversight in the decision-making process related to the allocation of resources for provincial development in 2024,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday.
He also said the establishment of the Financial Commission and the subsequent approval of its recommendations mark a crucial step toward promoting balanced regional development, addressing the diverse needs of provinces and encouraging efficient resource utilisation for overall development.
To achieve a balanced regional development in the country, the Financial Commission was established under Article 154 R of the Constitution to assess the provisions required for the Provincial Councils and to make recommendations for providing more meaningful allocations to provincial councils from the National Budget.
The Cabinet previously approved the recommendations presented by the Commission to the President for 2024. The approved recommendations cover crucial aspects of provincial development, including the assessment of capital and recurrent requirements for 2024. In addition, the Commission has put forward recommendations regarding the allocation of Government grants among Provincial Councils.
