Finance Ministry instructs to seek its advice for govt. projects

Finance Ministry has requested government institutions and state-owned companies to seek the advice of the Ministry on different projects planned.

A circular sent out by the Ministry read that projects related directly or indirectly to the government debt should be shared with the Ministry. The Ministry also requested for due diligence to be carried out on agreements made with contractors during different processes of the project.

It was also mandatory to ensure that the parties were capable of financing the expenditure of the project. Agreements should also be signed only after confirming background checks on the parties, according to the Ministry.

This new policy was to implement the Strategic Action Plan (SAP) of the government, stated the Ministry.