Sunday Sep 22, 2024
Sunday Sep 22, 2024
Thursday, 5 September 2013 00:00 - - {{hitsCtrl.values.hits}}
Dr. P.B. Jayasundera,
Secretary,
Ministry of Finance and
Planning,
Secretariat Building,
Colombo 1.
Dear Sir,
MILODA, the Academy of Financial Studies, to establish a multi-stakeholder platform for intellectual review of public policy and socioeconomic and environmental issues impacting on sustainable long term growth, development and prosperity of Sri Lanka and its people
I warmly welcome the nationally value adding initiative taken by you to establish MILODA, the Academy of Financial Studies, operating under your directions as a part of the Ministry of Finance and Planning.
I would be most grateful for your kind consideration and evaluation of the national economic value, of MILODA setting up a multi-stakeholder platform for intellectual review of public policy and socioeconomic and environmental issues impacting on sustainable long term growth, development and prosperity of Sri Lanka and its people.
It is suggested that as a part of this initiative, MILODA arranges regular monthly multi- stakeholder reviews to be conducted under Chatham House rules (say once a month review meetings, excluding the holiday season months of April and December each year) for;
1. Regular review of public policy and socioeconomic and environmental issues impacting on sustainable long term growth, development and prosperity
2. Special reviews of the following;
a. Annual Budget Proposals and their Expected Outcomes (both financial and non financial)
b. Mid Year Budget Review
c. Reports published in terms of the Fiscal Responsibilities Act
d. Annual COPE and PAC Reports
by specially selected and invited 32 members, made up of four members each representing the under noted groups:
1. Ministry of Finance & Planning
2. Central Bank
3. Members of Parliament representing both government and opposition
4. Relevant Ministries/Departments
5. Private Sector Business Chambers
6. Academia
7. Professional Associations and Independent Think Tank Institutions
8. Media
These reviews could begin with a professional presentation by MILODA’s professional staff of 20 minutes duration, encapsulating the area of review (i.e. public policy and socioeconomic and environmental issue) followed by two separate 15 minute presentations each, by two invited professionals representing the multi stakeholders, setting out positive arguments supporting the policy/ issue/action and negative arguments against the policy/ issue /action. These presentations will be followed by one and half hours of deliberations, ending with a 15 minutes of summing up of the outcomes of the deliberations. These review sessions will be limited to a maximum of three hours.
MILODA staff will provide all required administrative and research facilitation for these reviews. They will circulate to all invited stakeholders, an agenda for the meeting along with any useful background material.
At the end of each review MILODA staff will prepare a position paper setting out the issues reviewed, outcomes of the review, the agreed recommendations and action strategies recommended, setting out in addition the accountability recommendations for implementation and further follow up actions, if any.
MILODA should in addition establish an interactive, easy to access and user friendly web site to support this initiative. This web network could provide an effective and transparent communication platform on issues reviewed and position papers developed post reviews. The web site should also have facilities for the public to leave suggestions for review at regular or special meetings and further provide an opportunity to interactively comment on policies and issues reviewed, as well as areas suggested for future review.
I am convinced that an initiative built around the above basic suggestion, enveloping the suggested framework, will enhance multi stakeholder awareness, acceptance and support for implementation of policies and actions of the State.
Such a framework will in addition enhance the public accountability and transparency of the Ministry of Finance in dealing with development issues, financial management and allocation of national resources.
Yours sincerely,
Chandra Jayaratne
cc. The Governor, Central Bank
of Sri Lanka,
The Country Directors, International Monetary Fund and Other International Financial Institutions,
The Leaders of Business Chambers, Academia, Professional Associations, Think-Tanks and Media
