Today is the last day of the 15-day extra session of the Legislature requested by President Joseph Nyuma Boakai, and the lawmakers must do all in their power to ensure that the draft recast budget is passed in order to avert the shutdown of the government.
Members of the House are reported to be on course and would very decisive in acting on the draft recast budget, if developments on Capitol Hill are anything to go by.
The House's Joint Committee on Ways, Means, Finance and Development Planning and Public Accounts & Expenditure, on Thursday, September 12, announced that it would submit the final report of the Draft Recast National Budget on today, September 13, "for subsequent passage and forwarding to the Senate for concurrence."
The announcement was made by Deputy Speaker Thomas Fallah, who presided over the 7th day special sitting on Thursday, 12 September 2024.
All necessary expenditure lines, revenue forecasts, and other pertinent and related documents are expected to be presented to the Joint Committee on Ways, Means, Finance and Development Planning and Public Accounts & Expenditure since Wednesday to facilitate a thorough review and ensure the completion of the process
It may be recalled that members of the House of Representatives and the Senate returned from their second break two weeks ago for a Special Sitting to act on pressing national issues and legislations -- especially time-sensitive matters including the draft recast budget.
Confirmations of nominees with the Minister of Finance and Development Planning- designate, Augustine Ngafuan, who topped the list has been unanimously confirmed by the Senate.
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The "Certificate to Reconvene" was signed and issued by the Legislature, while The "Proclamation for a Special Sitting of 1st Session of the 55th Legislature" was issued by President Boakai, from Thursday, August 29, 2024, to Thursday, September 19, 2024.
According to the preliminary report from Rep. Dixon Seboe, chairman on the House's Joint Committee on Ways, Means, Finance and Development Planning and Public Accounts & Expenditure, the Committee is considering in putting back the US$17 million which was cut in the recast budget resulting to US$721 million.
Rep. Seboe said the Committee is also considering to increase the Recast Budget to about US$749 million if the House and the Senate ratified and amended legislations of time-sensitive and integrity bills including a law to put royalties on iron ore, gold, and other base metals (non-Concessional); as well as Withholding taxes on gaming winnings and betting, withholding on services rendered, among others.
President Boakai, through the Ministry of Finance and Development Planning, submitted the draft recast budget for Fiscal Year 2024 to the Liberian Legislature. The draft budget, totaling US$721.5 million, was presented to the Speaker of the House and to the Senate through the office of the Vice President on Friday, August 16, 2024.
