The Integrated Treasury Management Information System (ITMIS) is to be fully implemented bythe budget for 2022. Secretary to the Treasury S. R. Attygalle noted that utilisation of ITMIS was already quite high and as with government policy there would be more utilisation of digital channels.
Attygalle said,“Budget 2021 was worked through ITMIS.” 80% of 2021 budget data is done throughITMIS. This includes over 2000 spending units within the government. He noted that ITMIS would be fully implemented by 2022.Attygalle was speaking on February 22 at the Public Sector Best Annual Reports and Accounts Awards –2020 held at the BMICH.He said, “I commend the decision in 2013 to implement ITMIS. I am a strong believer that there forms to be successful must be led from the front and by those within the system itself.” Attygalle said, “I believe the compilation, submission, and publication of financial accounts within an acceptable framework is required to address the issues that come up among the stakeholders.Credible data in atimely manner is important to establishing trust.”
Also required that when presenting information to the public, it should be done in a manner that is simple and consistent to improve the financial literacy of the people.” Attygalle noted that the narrative on Public Policy was often distorted.
He commended the operations of the Public Sector in its management of COVID-19.He said, “Public sector operates within a controlled framework of financial regulation,documentation guidelines, and administrative regulations that would be deemed to be barriers for unorthodox responses but public institutions responded really well.”The Secretary noted that from releasing ethanol for sanitiser manufacture to ensuring pensiondistribution during the pandemic the treasury worked tirelessly to assist the economy.
Public sector accounts have mostly been compiled and will be submitted for audit shortly. Attygalle said, “This is a public sector that needs to be appreciated.” Attygalle called for confidence in the economy.
He cited exports of US$ 10 billion and public sector revenues that are better than expected in comparison to the growth figures. He said, “Sometimes Irealize that our own institutions fail to grasp this narrative that is unfolding.” By the end of 2020,the government had already settled Rs 300 billion unpaid dues to the private sector.
Commending the monetary policy approach of the current monetary board, he said, “The unemployment level of only 5% reflects the effectiveness of the policy undertaken including the decision to maintain a low-interest rate regime.”On recent measures to curb imports, he said, “Most of these decisions are not easy, nor are they popular, but they have ensured that the economy remains stabilised.”
