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Preliminary Feasibility Study (PFS)
Definition

Preliminary Feasibility Study refers to the verification and evaluation of the validity of a new large-scale project conducted in advance under the supervision of the Minister of Economy and Finance in accordance with Article 38 of the National Finance Act and Article 13 of the Enforcement Decree of the Act in order to establish a valid budget allocation and fund management plan for new projects.

Purpose

The purpose of the Preliminary Feasibility Study is to prevent wasting of budgets and to uplift the efficiency in fiscal management by contributing to the transparent and fair decision of the new investment to a government project based on prioritization through the objective and neutral investigation of the validity of a large-scale government project.

Assessment of Project Plan

If necessary, the Minister of Economy and Finance can review the appropriate project scale, total project cost, and efficient alternatives of the projects exempted from the Preliminary Feasibility Study based on the methods of Preliminary Feasibility Study and reflect the result in the budget proposal and the establishment of a fund management plan.