State Council hosts World Bank team

MUSCAT: The Economic Committee of the State Council hosted delegation of World Bank last week. Shaikh Mohammed bin Abdullah al Harthy, Head of the Economic Committee, welcomed the delegation, noted its role in providing technical support for preparing the criteria for performance indicators in monitoring the implementation of budgets. The meeting addressed the objectives and procedures of the budget of programmes and performance. The delegation also made a presentation on legislative oversight of the budget. The presentation titled, ‘Programme-Based Budgeting and Legislative Oversight’, highlighted the types of oversight, the stages of annual budget process, public financial accountability, its benefits, disadvantages, the role of legislatures in global parliaments and the role of committees in global parliaments.