The Ministry of Planning and Development this week unveiled new policies, which will radically reform the format for the identification of projects/proposals, submitted for funding under the Public Sector Investment Programme (PSIP) 2007. 

The restructuring of the process has become necessary in view of the shortcomings in developmental effectiveness of the current system which is not aligned with the policy objectives, goals and outcomes for national development. Moreover, since there is limited emphasis on measurable targets and outputs, this system does not allow for rigorous accountability and transparency.   

Mr. Anthony Bartholomew, Permanent Secretary in the Ministry of Planning and Development who outlined the new format, emphasized that the new approach will focus heavily on programming, monitoring and measurement of progress, and benchmarking that progress against measurable outputs. 

The operationalisation of this new method has begun with the hosting of a series of Programming Meetings by the Ministry of Planning and Development with all line Ministries and Government agencies, to ensure that their submissions for PSIP funding fall within the five strategic development priorities contained in the Vision 2020 Strategic National Development framework.  The development priorities are as follows:    

·        Nurturing a Caring Society

·        Developing Innovative People;

·        Governing Effectively;

·        Investing in Sound Infrastructure & Environment; and

·        Facilitating Competitive Businesses

The Programming Meetings will continue until July 4, 2006 at the Ministry of Finance Building.   

The implementation of the new system will allow for greater predictability of the financing needs of Ministries and Agencies. With this special focus on policy objectives outcomes, the nation will undoubtedly derive greater value for monies spent on investment projects.