Reps move to tighten rules on sale of federal assets

The House of Representatives is proposing legislation to create a National Public Assets Management Commission, aimed at regulating the management and disposal of federal government assets. This commission would oversee the registration, valuation, and monitoring of assets held by various government institutions. It seeks to establish a central database, the National Public Assets Register, to track all public property throughout its lifecycle.

The proposed law mandates institutions to disclose debts, claims, and comply with the commission's approval for any sale, lease, or disposal of public assets. Stricter rules would govern asset sales, demanding independent valuations, competitive processes, and adherence to value-for-money assessments. Non-compliance would result in corrective actions from the commission, with the power to refer persistent violations to the President and the National Assembly.

The bill aims to enhance transparency, accountability, and value stewardship in the management of federal assets.