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Tuesday, June 25, 2024

Lao Vice President Calls for Self-Examination During Mid-Term Plenary Meeting

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The Vice President of Laos has issued a directive to government representatives in the Ministry of Finance calling for self-examination, deep reflection, and improvement based on feedback and criticism received from party members and the public.

Vice President of Laos, Bounthong Chitmany, emphasized the importance of unity within the Party Committee of the Ministry of Finance during the mid-term plenary meeting on Saturday.

According to Vice President Bounthong, in response to varied opinions from residents and party members alike, officials in the Ministry of Finance should properly examine any criticism that might come their way, regardless of whether they agree with it.

The president pointed out that comments and criticism are usually constructive suggestions for improvement within the ministry, which concerned officials can implement in the future.

The Ministry of Finance has recently faced public criticism over a range of issues, including its involvement in scandals related to civil service examinations in 2022. During this time, certain candidates were invited to reappear for interviews despite not having passed the initial examination.

At the same time, the public has been highly vocal about the nation’s financial challenges, which encompass issues like inflation, foreign currency exchange regulation, the devaluation of the national currency, and the issuing of saving bonds.

In an attempt to address these concerns and improve financial management, the ministry and the Bank of the Lao PDR signed a memorandum of understanding in May this year.

The agreement aims to enhance cooperation between the two entities in various areas, including the management of luxury goods, revenue collection in foreign currency, debt settlement, and the review of legislation pertaining to monetary and financial matters.

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