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Home Business News Economy

Ngafuan Vows to Overhaul Pay Harmonization Policy, Prioritize Fiscal Reforms

by Blamo N. Toe
September 6, 2024
in Economy, Featured
Reading Time: 4 mins read
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Ngafuan Vows to Overhaul Pay Harmonization Policy, Prioritize Fiscal Reforms

MONROVIA – Finance and Development Planning Minister-designate Augustine Kpehe Ngafuan has disclosed plans to thoroughly review the much-publicized “Harmonization Policy” inherited by the Unity Party regime from the CDC government, with the aim of deriving realistic solutions and ensuring that government employees are paid decently.

Ngafuan’s recent nomination by President Joseph Nyuma Boakai, marking his return to a position he previously held during the first term of former President Ellen Johnson-Sirleaf, came weeks after Boima Kamara resigned from the post, citing health issues.

Facing the Senate Committee on Ways, Means, Finance, and Budget, chaired by Bong County Senator Prince Kermue Moye, on Capitol Hill on Thursday, September 5, 2024, Ngafuan recounted the mixed reactions generated since the policy was instituted by the former Coalition for Democratic Change (CDC) government under ex-President George Manneh Weah.

“A few years ago, in the wake of a stagnating revenue envelope, the path taken by the GOL to address the high ratio of the public service wage bill to the total budget envelope was to develop and implement the GOL Pay Harmonization Program, with the professed aim of ensuring the sustainability of the public sector wage bill,” he said.

Ngafuan acknowledged that the policy and its implementation have raised concerns among some stakeholders. However, he emphasized his determination to create an appropriately incentivized and motivated government workforce, which he believes is critical to government success.

If confirmed as Minister of Finance and Development Planning, Ngafuan vowed to strike the right balance between maintaining a sustainable public service wage bill and paying government employees fairly.

“One of my top priorities as Minister of Finance will be to work with the CSA and other government institutions to conduct a thorough review of the policy and its implementation, with the singular purpose of deriving appropriate and realistic solutions to whatever genuine concerns exist,” he stated.

Ngafuan recognized the enormous challenges accompanying the position of Finance Minister, as well as the high expectations of the Liberian people and the international community. “I must concede that I don’t come with a magic wand to instantly deliver prosperity on Broad Street or elsewhere in our country,” he admitted.

The Minister-designate also outlined his vision for fiscal reforms, aligning the ministry’s priorities with the Boakai-Koung ARREST Agenda for Inclusive Development (AAID). He promised effective resource allocation by focusing on government priorities, ensuring that funds generated through domestic sources, grants, and loans are directed toward the nation’s development goals.

Ngafuan highlighted the need for raising additional resources for development, stressing that robust strategies and interventions are necessary. He emphasized the importance of unlocking the potential of the energy sector, connecting the country with paved roads, and improving revenue generation from key sectors, including mining.

The financial expert also promised to support the Liberia Revenue Authority’s push for technology and digitization to close revenue leakages and significantly boost government revenue. “We shall push all revenue-generating agencies to their full potential, but we must be cautious not to overburden them,” Ngafuan cautioned.

In his testimony, Ngafuan further pledged to work with the Ministry of Commerce and Industry, the National Port Authority, and other government agencies to ease the process of registering and doing business in Liberia.

He also expressed a commitment to enhancing the capacity of the Ministry of Finance and other relevant agencies to develop more realistic revenue forecasts, particularly targeting the extractive and other complex sectors. According to him, better revenue forecasting will contribute to budget credibility by avoiding frequent recasts and appropriation cuts due to revenue shortfalls.

Ngafuan outlined his administration’s focus on reducing bureaucratic delays, particularly in processing allotments and payments through the Ministry of Finance. He promised to establish and monitor average timelines for business processes within the ministry to ensure adherence.

The Minister-designate also vowed to support Liberia’s climate action agenda, working alongside the Environmental Protection Agency and other relevant bodies to leverage climate finance opportunities for the country.

Drawing a parallel between the Ministry of Finance and the human heart, Ngafuan likened the ministry to the heart of government, with other institutions representing the body. “The heart pumps blood to other parts of the body. If it fails to pump blood to a particular part, that part suffers paralysis or other serious complications,” he said.

He stressed that the effectiveness of the entire government depends on the proactive functioning of the Ministry of Finance and Development Planning. “My role as Minister of Finance, if confirmed, will be to ensure that the ministry works well, and that’s precisely what I intend to do,” Ngafuan said.

Tags: Augustine K. NgafuanLiberiaMinistry of Finance & Development PlanningPay HarmonizationSalary Harmonization
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Blamo N. Toe

Blamo N. Toe

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