8
28.
Further details of the sectors and programmes implemented to utilise these funds are
listed at Appendix I which indicates that focus will be placed on the priority areas such as
Economic Growth, Job Creation, Competitiveness and Innovation and Poverty Reduction and
Human Capital Development
.
Limitations of the Three-Year PSIP 2014-2016
29.
In the formulation of the Three-Year PSIP 2014-2016 similar challenges as experienced
in 2013 prevailed. Specifically, Ministries and Departments failed to comply with the
requirements of the Minister of Finance Call Circular No. 3 dated March 12, 2013. This Circular
stated that Ministries and Departments would be required to submit indicative resource
requirements for the three-year period, as this would be used as a planning tool to guide the
Ministry of Planning and Sustainable Development in the determination of allocations of
resources over the period. Consequently, the projected requests are significantly understated,
hindering the Ministry of Planning and Sustainable Development’s ability to assess the
requirements of each Ministry or Department over the medium-term.
30.
The understated requests for 2015 and 2016 reaffirm the role of the Ministry of Planning
and Sustainable Development to conduct training and coaching for the Line Ministries to ensure
compliance with these guidelines over the next fiscal year.
31.
The total requests for funding for 2014, 2015 and 2016 were $31,736.2 million,
$18,026.8 million and $10,412.3 million, respectively. This general decline in requests for
funding continues to be atypical since it has historically been trending upwards and in recent
years has averaged at approximately $30,000 million per year. This decline may be explained by
the following:
•
a general lack of properly developed new projects and programmes, including
pipeline projects, which are actively being considered for implementation over the
medium-term
•
the non-compliance of some Ministries and Departments in submitting requests for
funding for 2015 and 2016 even where projects are to be continued
•
among those who did comply, a less than rigorous approach used in considering
funding requirements for future years
32.
The Ministry of Planning and Sustainable Development will continue to work with the
Ministries and Departments, and the THA to address these deficiencies over the course of the
2014 fiscal year to refine their requests for funding for the 2015-2017 Estimates.
33.
In this regard, the Ministry of Planning and Sustainable Development is in the process of
strengthening the systems to effectively institutionalise the three-year PSIP. A recent
Consultancy was undertaken and a Programme of action has been developed for implementation.
In fiscal 2014, through this Programme, the Ministry of Planning and Sustainable Development
will work alongside Ministries and Departments to effect greater compliance with the Call
Circular requirements as well as create a more robust Three-Year PSIP, commencing in fiscal
year 2015.
