Senate President Marcel Niat Njifenji chaired the plenary sitting dedicated to the tabling of the bills on July 2, 2018.
In the coming days, the Senate will adopt the bill to lay down the Cameroon Code of Transparency and good governance in public finance management and that relating to the fiscal regime of the State and other public entities.
The two bills were forwarded by the Speaker of the National Assembly, Hon. Cavaye Yeguie Djibril to the Senate on June 30, 2018 after adoption by the said House, according to Article 30 of the Constitution.
The President of the Senate, Marcel Niat Njifenji on July 2, 2018 chaired the plenary sitting of the Upper House of Parliament in which the bills were tabled. This was in the presence of the Minister of Public Service and Administrative Reform Joseph LE who represented the Vice Prime Minister, Minister Delegate at the Presidency in charge of Relations with the Assemblies, Amadou Ali.
The bill to lay down the Cameroon Code of Transparency and good governance in public finance management seeks to domesticate Directive No. 06/11-UEAC-190-CM-22 relating to the Code of Transparency and Good Governance in Public Finance Management adopted on 9 December 2011 by the CEMAC Council of Ministers. The purpose of the directive is to harmonise finance laws in the Sub-region and align them with international standards.
The bill aims to establish the fundamental principles of transparency and good governance that should govern public finance management in Cameroon and reflects government's determination to comply with community laws and continue with the modernisation of this sector of activity on which it embarked in 2007 with the establishment of the programme-budget. The bill besides the central administration and its branches, is also intended for civil society actors, citizens and taxpayers, investors and development partners.
The objective of the bill relating to the fiscal regime of the State and other public entities, government explained, is that it lays down the conditions under which the entire finance medium-term budget policy shall be established. It also lays down the rules relating to the nature, content, presentation, preparation and adoption of finance laws, as well as the execution and control of the budget.
According to the bill, public funds are resources of the State and any other government service, as well as funds granted them by national and international donors, foreign States or international financial institutions.
By the time of going to press, the Minister of Finance, Louis Paul Motaze was defending the two bills in the Committee on Finance and the Budget of the Senate.