Putting Government Finances on a Sound Basis and Reducing Budget Deficits

1. The current uses of all types of public property are being assessed and specific objectives formulated for actively utilizing public property so as to increase revenues and broaden sources of government funding. (Agencies in charge: Ministry of Finance [MOF], Council for Economic Planning and Development [CEPD], RDEC, provincial and municipal governments, all administrative agencies) *agencies have equal reporting status

2. A comprehensive review of all fee items is being conducted, and rational readjustment of fee standards are being carried out at appropriate times. The principle that all those who use, derive benefit from, or pollute public property must pay for their privileges is being instituted to insure that financial burdens are shared fairly. (Agencies in charge: all administrative agencies)

3. Private participation is being encouraged in public construction projects and the development and use of public property. The establishment of a cooperative style of management involving both government and private parties will enable private resources to be tapped and the government's financial burden to be lessened. (Agencies in charge: Ministry of Transportation and Communications [MOTC], Ministry of Economic Affairs [MOEA], RDEC, provincial and municipal governments, all administrative agencies) *agencies have equal reporting status

4. The current status of the privatization of public enterprises is being reviewed and various feasible methods of privatization are being studied in order to accelerate the privatization of public enterprises. (Agencies in charge: MOF, MOEA, MOTC, Vocational Assistance Commission for Retired Servicemen, CEPD, RDEC, provincial and municipal governments) *agencies have equal reporting status

5. In order to enhance the operating efficiency of public enterprises, stepped-up financial investigations and results assessments are being conducted. (Agencies in charge: MOEA, MOTC, MOF, Directorate General of Budget, Accounting & Statistics [DGBAS], provincial and municipal governments, all administrative agencies) *agencies have equal reporting status

6. A pre-examination of annual government budjet revenue and expenditures is being conducted prudentially and a mid-term plan is being drawn up to guide sound financial policies. (Agencies in charge: DGBAS, RDEC)

7. The promotion of an annual expenditure quota system is being continued in order to lessen uneconomical outlays, reduce waste, and enable a zero-based budgetary approach to take root. (Agency in charge: DGBAS)

8. In order to enhance efficiency, compilation of capital expenditure budgets is being examined and project implementation rigorously audited. (Agencies in charge: RDEC, CEPD, National Science Council, Public Construction Commission [PCC], DGBAS) *agencies have equal reporting status

9. A system of funds earmarked for special purposes is being studied and the scope of centralized expenditures is to be comprehensively broadened in order to boost the effectiveness of fund utilization and conform to the principle of unified payments to and expenditures from the national treasury. (Agencies in charge: MOF, RDEC, DGBAS, all administrative agencies)

10. The functions and objectives of all types of non-operating circulating funds are being reviewed, and specific norms formulated. (Agencies in charge: RDEC, CEPD, DGBAS, all administrative agencies)