By Wezzie Gausi:
The Ministry of Finance has said it will now start working on having a funding guideline on how the budget will be implemented in ministries, departments, and agencies (MDAs).
The budget funding guideline is based on the best estimates and detailed plan of the funding required by each MDA.
According to Secretary to the Treasury Betchani Tchereni, an understanding needs to be made by all Malawians that what the Minister of Finance did was just telling the nation about budgetary allocations to MDAs.
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He said after budget preparations, the ministry now has to work on a funding framework through the guidelines.
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“Now as a ministry, we will be working on how best to get resources and work out on actual funding to the MDAs. This is done in phases; it may be monthly, quarterly, or annually depending on the need.
“Coming up with the funding guideline is very crucial as it is a road map as that shows how much has been disbursed by the accountant general,” Tchereni said.
Parliamentary Committee on Budget and Finance Chairperson Gladys Ganda said it is commendable for the Treasury to start working on the guideline as soon as possible.
She said it would be impossible to track down funding that is made without the allocations.
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“The committee is impressed with the pace the Treasury is taking to make sure that MDAs are funded. We believe the framework will reflect what has been allocated in the budget document,” Ganda said.
The 2024-25 national budget has been pegged at K5.98 trillion, with a deficit of K1.43 trillion as the government expects to mobilise K4.55 trillion
