Long-term reforms hinge on strong parliamentary oversight: Mchechu

He emphasised that the success of the Long-Term Indicative Plan and the anticipated reforms cannot be achieved without strong oversight, policy guidance, and sustained support from Parliament through the relevant committee.

Mr Mchechu highlighted the importance of this cooperation in harmonising legal and institutional frameworks, strengthening corporate governance within boards and management of public entities, and creating an enabling environment for managing government investments on commercial, accountable, and competitive principles.

Furthermore, he noted that the PIC holds a unique position in ensuring the continuity and stability of these reforms for the benefit of the nation.

He pledged that the Office of the Treasury Registrar (OTR) would remain open and fully engaged with the committee on matters of monitoring, evaluation, and oversight of public investments, including providing all necessary clarifications and information required for the execution of parliamentary responsibilities.

For his part, PIC chairperson Masanja Kadogosa outlined his expectations for the OTR to implement its mandate effectively and deliver measurable results, particularly in improving the performance of public entities, increasing non-tax revenue, and reducing reliance on government subsidies.

He stressed the need for public entities to operate efficiently, thereby contributing to the GDP and improving the lives of citizens.

“We expect to see transparency, good governance, and accountability in the management of public investments,” he emphasized.

“As a committee, we are more than willing to support the Office of the Treasury Registrar in implementing reforms within public entities.”

The seminar was part of Parliament’s capacity-building framework, aimed at enhancing the committees’ understanding of the institutions they oversee. This framework enables them to discharge their parliamentary duties effectively, professionally, and in the broader national interest.

The engagement sought to provide PIC members with a deeper understanding of the structure, mandate, and strategic direction of the OTR in managing government investments, along with a presentation of the Long-Term Indicative Plan for the period 2026–2050.

Through this parliamentary framework, committees gain insight into the roles, challenges, and plans of the institutions under their oversight, contributing to improved decision-making, supervision, and advisory functions.

In its presentations, the OTR outlined its historical establishment and the institutional and legal reforms undertaken to enhance its effectiveness in the current economic, commercial, and administrative environment.

The committee was informed that the Office carries out its core responsibilities across four key areas: safeguarding government assets on behalf of the public, advising the government on investments and the management of public entities, overseeing the performance of public institutions and corporations, and managing restructuring and privatization processes where necessary in accordance with existing policies and laws.