Ouagadougou: The Burkinabe government has initiated a significant financial reform aimed at saving 4.2 billion FCFA by streamlining the awarding of balance sheet premiums across state companies and public social welfare institutions. This initiative is set to redirect the saved funds towards the development of basic social infrastructure for the populace. According to Burkina Information Agency, the reform was set into motion following the adoption of a decree by the Council of Ministers on Wednesday. The decree sets forth uniform criteria for the issuance of balance sheet bonuses to employees of public entities. Minister Serge Gnaniodem Poda highlighted the lack of a standardized system for balance sheet bonuses as a major loophole that led to financial disparities and inefficiencies within public institutions and state companies. "This decree will ensure that the granting of balance sheet bonuses is based on clear and harmonized criteria across all public entities," Minister Poda stated, emphasizing the p otential savings of approximately 4.2 billion CFA francs. He noted that these funds would be reinvested into creating essential social amenities for the communities. Further detailing the changes, Minister Poda criticized the previous unregulated system where balance sheet bonuses were granted without coherent guidelines, leading to unequal distributions and excessive payouts in certain instances. Under the new decree, the bonus will only be awarded if a positive financial outcome is achieved that also covers previous deficits. Moreover, there are now caps placed on the bonuses-no more than 10% of the total payroll and 15% of the net results of the entity can be allocated as a bonus, ensuring that payouts are both justified and sustainable.