THE Enugu State Government says it will establish a Debt Management Office (DMO) to enable it manage its internal and external debts for socioeconomic development of the state.

This followed a report presented by the Joint Committee on Finance and Appropriation, Public Accounts and Anti-Corruption and Judiciary, Public Petitions, Ethics and Privileges, at its plenary in Enugu on Tuesday.

The bill for the establishment of the Debt Management Office, House Bill No. 17, 2018, which was an executive bill presented by the Leader of the House, Mr Ikechukwu Ezeugwu has been pending since September, 2017.

Presenting the report, the Chairman of the joint committee, Mr. Chuka Eneh (PDP Udi South) said the committee conducted a one day public hearing on the bill.

Eneh, who is also the Chairman, House Committee on Finance and Appropriation, said that important personalities and influential stakeholders attended the public hearing and made inputs that would help in the passage of the bill.

The lawmaker stressed that the bill, if passed into law, would help the state to monitor its debt portfolio and determine when and how to pay back its debts.

He pointed out that it would also help the state to manage its assets and liabilities as well as its stocks and securities effectively.

Meanwhile, the bill had passed first and second reading and was now awaiting third reading and passage.

In a related development, the assembly also received two reports on a bill for a law to provide for the establishment of the Enugu State House of Assembly Service Commission, its functions and other related matters connected therewith, House Bill No1, 2015.

The assembly however, adjourned sitting till March 29 for deliberation on the reports.

– Mar. 27, 2018 @ 16:17 GMT |

BIE