MONROVIA – In a move aimed at enhancing fiscal transparency and accountability, several State-Owned Enterprises (SOEs) have committed to appear before the House Committee on Ways, Means, and Finance for upcoming expenditure hearings.
This commitment follows a high-level conference convened by the Committee, which took place on Tuesday.
The conference brought together key representatives and heads from major SOEs, fostering an environment of collaboration to review fiscal performance in alignment with Liberiaโs national budget goals.
House Chairman of the Committee, Representative P. Mike Jurry, praised the leadership of the attending SOEs for their cooperation and their crucial role in driving the national budget.
โWhile our budget is still relatively small compared to our regional counterparts, I am optimistic that with ongoing collaboration and accountability, we can reach the billion-dollar mark in the coming years,โ remarked Representative Jurry, underscoring the importance of the SOEs in mobilizing domestic revenue.
During the meeting, Rep. Jurry provided an update on the governmentโs fiscal performance, noting a revenue deficit of $17 million in the first quarter that had improved to $6 million in the second quarter, reflecting positive trends in revenue generation.
The Committee has set a target of over $800 million for the current fiscal year, with Hon. Jurry expressing confidence that significant strides can be made toward strengthening the national budget.
Participating SOEs at the conference included:
National Port Authority (NPA)
Liberia Petroleum Refining Company (LPRC)
Liberia Water and Sewer Corporation (LWSC)
National Oil Company of Liberia (NOCAL)
Forestry Development Authority (FDA)
National Fisheries and Aquaculture Authority (NaFAA)
National Social Security and Welfare Corporation (NASSCORP)
National Housing Authority (NHA)
Liberia Civil Aviation Authority (LCAA)
Road Fund
The upcoming hearings will serve as a platform for these enterprises to present their expenditure reports, discuss challenges, and propose solutions to improve efficiency and enhance revenue generation in support of national priorities.
The House Committee reiterated its commitment to fiscal discipline and reforming public financial management to ensure accountability among all revenue-generating institutions, emphasizing the vital role they play in Liberia’s development agenda.
