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Vice President demands transparency from Finance Ministry

Vice President Phankham Viphavanh called for the Party Committee of the Ministry of Finance to work harder to ensure all the sector's party cadres and financial officials performed their professional tasks transparently.

Mr Phankham, who is also Standing Secretary of the Party Central Committee's Secretariat, made the comment last week during the 3rd Party Congress of the ministry.

The comment was made after reports emerged of remarkable revenue leaks believed to have involved some undisciplined officials who exploited their positions for personal gain.

During the last ordinary session of the National Assembly (NA) that took place in October, NA members questioned if the government's plan to introduce an electronic revenue collection system would close loopholes for revenue leaks, noting that information entered into the system would be done so by officials. The NA members demanded regular inspections and hash punishment for those found guilty of wrongdoing.

During last week's meeting, Vice President Phankham called for the Party committee of the ministry to work at ensuring all the Party cadres and financial officials properly grasped political ideology and exercised the spirit of honesty when offering services to the people.

The meeting was told to attach great importance to improving the organisational structure of the ministry's Party organs at all levels for improved performance.

In addition, the ministry's Party Committee was told to improve and streamline the financial sector's organisational structure in order to meet the growing needs of its work requirements.

Mr Phankham told the Party committee to pay more attention to developing and upgrading the professional competence of Party cadres and financial officials and ensuring they carried out their duties with a high sense of professional ethics.

“The Party committee of the Ministry of Finance must consolidate their solidarity, set an example with a good attitude and be clean in performing their duties and lifestyle,” he told the meeting.

“[The Party committee] must always prioritise the interests of the country and the general public beyond their personal interests.”

The Vice President called for the financial sector to give its utmost contribution to pursue and realise the resolution of the 10th Congress of the Lao People's Revolutionary Party and the National Socio-economic Development and Budget Plans for (2016-2020), which set a target for Laos to graduate from the list of least developed country status by 2020.

He also praised the financial sector for the achievements it has made over the past years.


By Times Reporters
(Latest Update
January 25,

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