More BARMM offices get hike in budget

COTABATO CITY - To fulfill its crucial role in the formulation, institutionalization, and administration of the fiscal policies of the Bangsamoro Government, a 21.49% increase from the Ministry of Finance, and Budget and Management's (MFBM) current budget has been approved by lawmakers.

After a thorough scrutiny, the Finance and Budget Management Committee (CFBM) of the Bangsamoro Parliament has approved the ministry's P435.30 million budget proposal for 2024.

Of the entire proposed budget, P26 million will be allocated for the institutionalization of Islamic finance and banking system. A huge chunk of the budget will also be set aside to support the ministry’s operations and general administrative services.

CFBM Subcommittee D Chair Atty. Mary Ann Arnado, along with MFBM Minister Atty. Ubaida Pacasem and other key officials, defended the ministry’s budget before the committee.

The Committee on Finance, Budget, and Management also approved the proposed budgets of the Development Academy of the Bangsamoro (DAB) and the Ministry of Environment, Natural Resources, and Energy (MENRE).

Following a series of deliberations last month at the subcommittee level, Member of the Parliament Atty. Raissa Jajurie, presented and defended the proposed budgets before members of CFBM.

As the central human capital development training and research arm of the Bangsamoro Government, DAB’s proposed P56.8 million will be allocated for its academy operations and tool development, human capital development services, and policy promulgation.

Meanwhile, MENRE’s P834.2 million budget will fund the ministry’s various natural resources and environmental, and energy programs in the region.

MENRE is responsible for the exploration, utilization, management, conservation, protection, and sustainable development of the region’s environment, natural resources, and potential energy sources. After the deliberation, CFBM will submit a committee report to the plenary for further discussion. (LTAIS- Public Information, Publication, and Media Relations Division)