Finance Minister Cassiel Ato Forson has expressed confidence that the newly created Office for Value for Money will help curb inflated public contracts and reduce unnecessary government spending.
Speaking after President John Dramani Mahama assented to the bill establishing the office, Dr Forson said the initiative would strengthen fiscal discipline and improve efficiency in the use of public funds.
“The Office for Value for Money will stop inflation and padding of contracts,” the Finance Minister stated.
According to him, the office is expected to generate substantial savings for the state by closely examining public procurement processes and ensuring government projects deliver value for money.
Dr Forson added that the institution would eventually “pay for itself and reduce public expenditure.”
He further explained that the savings generated through the office’s operations would create additional fiscal space for government to invest in other key sectors of the economy.
The Office for Value for Money forms part of the government’s broader public financial management reforms aimed at improving transparency, accountability and efficiency in public spending.
Source: 3news.com.gh
