THE DEPARTMENT OF FINANCE (DoF) is forming a technical working group (TWG) to help the newly formed Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) run its economic departments and crafting policies that will “ensure the region’s long-term fiscal stability.”

This was the directive of Finance Secretary Carlos G. Dominguez III following an Aug. 8 meeting between DoF Undersecretaries Gil S. Beltran and Bayani H. Agabin, and Minister Eduard Uy Guerra of the Bangsamoro Ministry of Finance, Budget and Management (MFBM).

“They agreed that the DoF will give a briefing on the structure (of the finance and budget department) so that they can properly set up their own structure. We’ll help them interface with the other departments as well,” Finance Undersecretary Bayani H. Agabin was quoted as saying in a statement on Sunday.

The TWG will be made up of representatives of the Department of Budget and Management, Bureau of Customs, Bureau of Internal Revenue, Bureau of Local Government Finance and the Commission on Audit.

Mr. Beltran said in the same statement the TWG will “design more briefings” to tackle other areas, particularly fiscal management, budget management and financial planning.

The DoF also committed to assist the new Bangsamoro government in setting up Islamic Banks.

The DoF will also tap the Philippine Tax Academy to instruct BARMM officials on fiscal management, financial planning and budget matters.

The BARMM was formed under Republic Act No. 11054, or the Organic Law for the Bangsamoro Autonomous Region in Muslim Mindanao, enacted in July 2018. In a plebiscite early this year, the provinces of Maguindanao, Lanao del Sur, Basilan, Tawi-Tawi, as well as Marawi and Lamitan cities — which had formed the Autonomous Region in Muslim Mindanao — and Cotabato City and North Cotabato opted to be included in BARMM. — Charmaine A. Tadalan

RELATED ARTICLESMORE FROM AUTHOR