Reform in Public Financial Management (PFM) in Bangladesh has completed its 20 years of journey which has brought significant transformation in public financial management practices in the country. The most notable is the introduction of Medium Term Budget Framework in all ministries and divisions of the government under the stewardship of DMTBF project. The reforms and subsequent changes create enormous demand for government officials having specialized knowledge and skills in PFM. The need is compounded further with roll out of afore-mentioned Medium Term Budget Framework (MTBF).
The situation has pushed the demand for technically capable officials for budget preparation and execution to much higher level. Consequently there engenders a clear gap between demand and supply of PFM trained officials that are likely to affect the implementation of government plans and sustainability of the outcome of on-going PFM reforms. All these necessitate massive PFM training and capacity building across the government which can be addressed properly only by establishing a specialized institute for Public Financial Management, and hence the desired institute – Institute of Public Finance – has emerged.
To develop, on a sustainable basis, capacities and competencies in the field of Public Financial Management among the staff of Ministry of Finance and all other Ministries and Divisions of the GoB while help deepen the MTBF and Strengthening Financial Accountability.
To become the leading training and capacity building institution for excellence in the field of Macroeconomic and Public Financial Management and policy research.