Macau (MNA) – The project resolution about the execution of the budget for fiscal year 2016 was unanimously approved by the plenary on Tuesday in spite of a call by legislators about the necessity to increase mechanisms for overseeing the performance and efficiency of public companies.
In reply to questions raised by legislators Leong Sun Iok and Agnes Lam Iok Fong, who pointed out that more than MOP6 billion was invested in public companies during 2016 without proper oversight and the regular filing of fiscal reports by the latter, the Secretary for the Economy and Finance, Lionel Leong Vai Tac, acknowledged that there are various points to be improved in this regard.
On the one hand, the Secretary argued that the low execution level observed in some public companies, as appointed by the legislators, was mainly attributable to elements such as the revision of legal texts and the submission of plans to related departments which require evaluation, thereby contributing to delays.
“With the new law, we will be able to resolve these problems, and continue to pay attention to this work and improve the situation,” stated the Secretary in his brief address of the matter.
The Secretary also claimed that it is necessary to create mechanisms of internal control to oversee the conduction of works and acquisition contracts as well as establishing more efficient timetables to regulate the activities of public companies.
Mr. Leong added that he did not discard establishing an entity dedicated to overseeing annual accounts of public companies.
“In the next phase, we will reinforce overseeing capabilities toward the use of public moneys, considering the consolidation of oversight mechanisms, while working closer with the committee,” the Secretary concluded.
The total number of votes was 30. No declaration of vote followed the approval.
