Dubai forms gov't team to develop financial plan

Dubai’s government announced on Monday that His Highness Sheikh Ahmed bin Saeed al Maktoum, chairman of the Dubai Supreme Fiscal Committee, had authorised the formation of the Dubai Government Finance Team.

The move comes as part of a series of financial reforms by the Dubai government to emphasise the need for further cooperation and coordination between the various components of the emirate’s financial systems.

The newly formed team will have a number of responsibilities, such as the development of a medium term financial plan for the emirate, for the 2011 to 2014 period.

It will also suggest improvements to government spending efficiency and provide recommendations on the development of a new structure for the government’s revenues.

The recommendations will be delivered directly to the Supreme Fiscal Committee.

In a statement, the government said that the team’s formation will also serve to bolster the rules that form the basis of Dubai’s fiscal policy and enhance the efficiency of government spending, both capital and operational.

The team will also discuss and comment on quarterly reports and invite support from any third party with the expertise and knowledge deemed necessary to achieve targeted financial objectives.

Spearheaded by Jamal Hamed Al Marri, director of Central Accounts at the Department of Finance, the team will include representatives from the Department of Finance, Dubai Police, Dubai Municipality, the Roads and Transport Authority, Dubai Customs, Dubai Health Authority and Dubai Airports Authority.

Abdulrahman Al Saleh, director general of the Department of Finance, said that cooperation between government departments and authorities and the financial team was essential, and stressed that all parties must work closely together to achieve the emirate’s aspirations and goals within the agreed timelines.