Within Budget

A new law aims to hold ministers responsible for meeting performance targets while keeping spending under control.rn

rnThe proposed Economic Management Law will require ministers to submit annual and quarterly accounts on time.

Violators of the law will have their funding cut in the latest government effort to curtail spending and hold legislators responsible for delivering results.rn

rnIn addition, ministries will also be required to submit performance reports to the Ministry of Finance on a regular basis.rn

rnThe law is expected to impose strict time limits for the submission of accounts and performance reports.rn

rnThe law, proposed in the 2003 budget is expected to come out by the third quarter next year.rn

rnldblquote This law says that every ministry will have to give every quarter a statement of expenditure,
dblquote explains Central Bank
quote s consultant Dr. Wickrema Weerasooria.rn

rnldblquote If not given, the third quarter money is not paid. The secretary of the ministry or the mini