Japan Starts ``Shiwake`` Screening for Special Accounts

Tokyo, Oct. 27 (Jiji Press)--Japan on Wednesday started the third
round of "shiwake" screening for eliminating wasteful use of financial
resources, this time focusing on the 18 special accounts in the national
budget system.
In the morning session, a team led by Democratic Party of Japan
Deputy Secretary-General Yukio Edano concluded that the special account for
trade reinsurance should be abolished.
Nippon Export and Investment Insurance, a government-linked
organization, should take over the account's function, and the management of
the entity should be made more transparent, said the team of examiners.
In the third round, the four days through Saturday will be spent
entirely on special accounts. The round will be resumed on Nov. 15 also for
a four-day run to reexamine results of the past screening events.
At the opening ceremony on Wednesday, Government Revitalization
Minister Renho said full light needs to be shed on all special accounts.
"Discussions should be held from various perspectives to identify
what is going on inside (the special accounts)," she added.
The special accounts are designed to manage the revenue and
spending of specific programs and projects separately from general-account
items.
The total amount of expenditures under the 18 special accounts
stands at some 180 trillion yen for fiscal 2010, excluding overlapping
spending items.
In the current round, the government will scrutinize all special
accounts to fully elucidate their debts and assets, including those that
have remained unknown to many.
Special emphasis will be placed on 48 projects, and those concluded
unnecessary will be reviewed or scrapped altogether.
On Thursday, the special accounts for public pension and
infrastructure construction will be scrutinized, and those for foreign
exchange intervention and the fiscal investment loan program will be checked
on Saturday.
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