DST Patrick Ocailap calls for efficiency in project execution as 9th Retreat for the Directorate of Budget kick-off.
Drake Nyamugabwa
The Deputy Secretary to the Treasury (DST), Mr. Patrick Ocailap today opened a 3-day Directorate of Budget Retreat at Lake Victoria Resort & Spa in Serena Hotel Kigo.
This retreat has been organized for the budget directorate in the Ministry of Finance, Planning and Economic Development.
The Theme of the retreat is: "Repositioning the Budget Directorate to enhance allocative efficiency of the budget.”
DST Mr. Patrick said that to attain the desired growth for the country, there is a need to exercise a high level of efficiency in the allocation of resources to the different public projects while implementing the ministry goal in the budget process to attain allocative efficiency.
"Attaining a high level of allocative efficiency is a critical factor in delivering the 10-fold growth strategy. This approach ensures that every shilling invested delivers the highest return to the economy," he said
Mr. Ocailap called for efficiency in the execution of projects and overall public investment management.
"We remain committed to the implementation of the fiscal consolidation agenda and this should be at the core of all budget decisions," he said
DST Mr Patrick Ocailap (2ndL) with Mr. Ishmael Magona (L) during the opening of the retreat
Meanwhile, the Acting Director of the Budget Directorate, Ishmael Magona, said the reduced fiscal space arising from shortfalls in domestic revenue & external financing coupled with the ever-increasing spending requirements, necessitate a thorough reassessment of the underlying assumptions during budget formulation and implementation.
He added that the retreat offers a crucial opportunity to engage in holistic and open discussions to identify the impediments and solutions to facilitate the accelerated performance of the Directorate.
Minister for Science,Technology & Innovation (STI) Dr.Monica Musenero made a presentation on the role of STI in Uganda's socio-economic transformation.
She emphasised the importance of using scientific knowledge & tools to identify & solve problems,create new products & services and also improve processes and systems.
Musenero said nations have moved from poverty to prosperity by continually manufacturing more and better goods for sale hence creating more wealth,adding that no nation has attained socio-economic transformation without investing heavily in STI.
"It is only STI-led economies that have been able to attain & sustain a qualitative leap and hence socio-economic transformation," said the Minister
This retreat according to the ministry is the 9th in the series for the budget directorate.
