Govt. gazettes Parliamentary Budget Office Bill

Monday, 15 May 2023 05:48 - - {{hitsCtrl.values.hits}}

PBO will be independent and accountable to Parliament
Will assist Parliament, political parties through non-partisan analysis related to budget and other matters
Budget Office CEO to be appointed by President on recommendation of CC
Application for post to be called once Bill is enacted

The Government has gazetted the Bill for the setting of a Parliamentary Budget Office (PBO) which shall be an independent body accountable to Parliament.

Cabinet gave approval in April for the proposed Bill on a proposal by President Ranil Wickremesinghe, in his capacity as the Minister of Finance.

The objectives of the PBO are to assist Parliament in the performance of its public finance responsibilities under the Constitution and any recognised political party or any independent group through the provision of independent, non-partisan analysis related to the budget, the medium-term economic and fiscal outlook, and the cost implications from a financial, revenue and expenditure perspective of policy proposals as provided for in the Act.

The Parliamentary Budget Officer, who will be the chief executive officer of the PBO will be appointed by the President on the recommendation of the Constitutional Council for a term of five years.

Applications will be called for eligible candidates by the Secretary General of Parliament once the law is enacted.

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