Doha: The Minister of Finance H E Ali Shareef Al Emadi said yesterday that establishing modern public sector institutions to provide excellent public services, achieving financial sustainability, and a more competitive, productive and diversified economy are some of the main targets of the Ministry of Finance.

H E Ali Shareef Al Emadi highlighted the strategic plan and main targets for the Ministry of Finance for the years 2020-2022, in a detailed presentation during yesterday's cabinet meeting. The weekly cabinet meeting was chaired by the Prime Minister and Minister of Interior H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani at the Amiri Diwan. 

During the meeting H E Al Emadi also provided the details of the follow-up plans for executive programmes and projects of the Ministry of Finance. In the medium-term the Ministry aims to achieve a stable state of income and revenue for the country and optimize the use of financial resources and public expenditures linked to the strategic plans of the state. 

The Ministry also aims to ensure efficient revenue for government procurement. For this, it is working on appropriate fiscal policies that maintain economic stability and prosperity. H E Al Emadi also noted that the Ministry is also working for the effective management of state projects and quality capital assets. As part of Strategic Objectives, the Ministry of Finance is developing and managing the state's financial resources and ensuring their sustainability by achieving the highest levels of financial and economic stability for the country. 

Among other strategic objectives, the Ministry of Finance is also aiming to raise the level of efficiency and effectiveness of financial planning and operations. To achieve this goal, the Ministry is reinforcing and strengthening the financial governance and activating the supervisory role. 

The Ministry is also developing and implementing effective medium to longterm financial policies to strengthen its financial sustainability. Some of the main programmes and projects include a draft review and regulation of state government fees; Draft statistical data reports; Financial Information Management System Project; a project to prepare a disbursement plan linked to the 2nd National Development Strategy 2018-2022. 

The Ministry is also working on several other programmes and projects, such as a project to provide financial data readiness according to the requirements of the SDDS standard (second stage) and on a draft medium-term strategy for debt.

On the economic front, the main target of the ministry is to establish a more competitive, productive and diversified economy, and a more dynamic and contributing private sector to the national economy among other targets. 

Under the medium-term target, the Ministry aims to boost the contribution of the nonhydrocarbon sectors to the GDP, in particular through the priority sectors; increasing the private sector's contribution to the local economy, and reinforcing the position of the State of Qatar as a regional centre of excellence for the priority sectors. 

The Cabinet approved a draft decision to establish a technical committee regarding the classification and evaluation of contractors, suppliers and service providers, and this committee is concerned with providing technical advisory opinion on the classification and evaluation of the performance of contractors, suppliers and service providers stipulated in the tenders and auctions law and its implementing regulations. 

It also proposed rules, standards, and determinations for classifying and evaluating the performance of contractors, suppliers and service providers in all specialties, and requesting classification, reclassification, classification amendment, and determination of the class for each company. 

The committee submitted its recommendations to the department concerned with regulating government procurement at the Ministry of Finance. The meeting also sought approval to join the framework agreement to establish the International Solar Alliance (ISA), and a new working group in the field of renewable energy within the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC), and the Arab Renewable Energy Commission. 

The third approval included a draft protocol amending the agreement between the governments of the State of Qatar and the government of Guernsey regarding the avoidance of double taxation and the prevention of financial evasion with regard to taxes on income.

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