The Cabinet of Ministers on Monday approved proposal forwarded by the President in his capacity as the Finance, Economic Stabilisation and National Policies Minister to publish the draft Bill on State Asset Management in the Government gazette notification and submit the same in Parliament for approval.
The move comes following the clearance received by the Attorney General to the draft prepared by the Legal Draftsman.
On 17 October 2022, Cabinet approved identifying movable or immovable non-finance assets that a State institution fully owns, transferred, acquired, divested or borne by or utilized and to prepare a national assets register while updating it from time to time and to introduce a law on State assets management including provisions for confirming the receipts of proper benefits of those assets to the State institutions.
There are almost more than 1,600 government-owned institutions and their assets are not properly managed. There are about 91,000 vehicles in those institutions. The government is ready to pay more attention to the fixed assets and manage them properly and provide more effective service to the people, according to the minister.
The move intends to evaluate and properly manage the non-financial assets belonging to the State up till now politically and purposely shut down by successive regimes during the past several decades.
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