Fiscal Consolidation Programme

In the efforts of the government to increase the country's economy, initiatives to achieve the Balanced Budget should be continued. This is due to the less correlation of the government's revenue with the GDP, unlike with other countries that has a more diverse source of revenue. Hence, the Minister at the Prime Minister's Office and Second Minister of Finance and Economy explained that the government will continue to implement initiative under the Fiscal Consolidation Programme which has been introduced to ministries at the Financial Year 2018/2019.

Yang Berhormat said that the programme should be carried out continuously. The outcome of every planned initiative or has been started to be implemented by ministries, will likely only impact the position of Fiscal for the next few years. As of now, through the initiative under the Fiscal Consolidation programme, a number of projects are planned such as corporatization several government departments namely the Printing Department and Postal Service Department as well as full privatization of ship's pilotage service functions entering the Muara Port under the Darussalam Pilotage Services.

Aside from that, Yang Berhormat added that His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented to the establishment of PQube Sdn Bhd on 14th of May 2019 as a subsidiary company under Brunei Economic Development Board to review project proposals of Public Private Partnership or PPP including the implementation of project management or potential government asset to use the PPP approach. Since its establishment, a number of government projects and services have been identified to be implemented with the PPP.

Source: Radio Television Brunei