Cabinet has approved the publication of a new draft Public Procurement and Disposal of Public Property Bill.
This information was revealed this week through a statement from the Office of the Prime Minister.
That Bill will be made available to the general public by December 16, 2020 for review and feedback; “and debt Portfolio Review which will be laid in Parliament next Wednesday, December 16, 2020.”
According to the statement, during the 2020/2021 Budget Address, the Prime Minister and Minister for Finance informed the nation that his government was finalizing a draft Procurement Bill for Publication; and promised that the Government would develop Fiscal Rules that would allow the country to better weather economic shocks.
“Today I am happy to report that the Cabinet of Dominica has made significant progress in advancing these measures which are critical to the development of a Dynamic, economic resilient Dominica. We have approved of,” the statement said.
The statement said also that these efforts speak to this Government’s continued commitment to fiscal prudence and ensuring that Dominica, can better withstand external shocks and natural disasters.
“The Development of a Fiscal Rules and Responsibility Framework which will establish parameters that allow us to build fiscal resilience—note that from October 2020 we have been making contributions to Government Vulnerability Risk and Resilience Fund at the East Caribbean Central Bank; in the amount of EC$500,000.00 per month,” the statement revealed.
It stated that the Dominica government recognizes that events such as natural disasters, the impact of global crises and the likes will continue to occur.
“We have no control over these,” according to the statement. “What we must continue to do is to prepare for the inevitable by building resilience in our systems, including our public finance management system.”
The statement added, “These will result in a more prosperous Dominica that all of us, our children and grandchildren can enjoy.”