The work, published on Dec. 23 Juche 67 (1978), deals with such matters as properly applying the business-accounting system as required by the management and running of the socialist economy, strengthening financial discipline and stepping up the struggle against squandering the communal property of the state and society and developing the local budget system and enhancing the role of the banking organs.

Attending the meeting were Premier Kim Yong Il and Vice-Premier Ro Tu Chol of the DPRK Cabinet and others.

Prior to the meeting, its participants listened to the recorded work, a speech made by the President at the national conference of financial and banking workers.

Ro Tu Chol in his report at the meeting said that the work serves as a socialist financial program run through with the principle and method of Juche and guidelines that should be held fast to in further improving and strengthening the financial and banking work.

He recalled that the President energetically led the work to make the finance in the DPRK thoroughly serve for the independent demand and interests of the popular masses.

The exploits performed by the President in the development of Juche-oriented socialist financing and banking are shining more brilliantly thanks to the outstanding ideological and theoretical activities and leadership of General Secretary Kim Jong Il, the reporter said, adding:

Under his wise leadership the Juche-based finance provided by the President has been developed into financing which serves to implement the lines and policies of the Workers' Party of Korea and which is managed in a unified and planned way by the state.

Thanks to the experienced and seasoned leadership of Kim Il Sung and Kim Jong Il, the originality, validity and truth of the theory on socialist financing and banking have been clearly proven and its vitality fully displayed. And a signal progress has been made in the financial and banking work.

The present reality in which the building of an economic power is firmly guaranteed financially by the strong political and military might is a proud fruition borne by the great Songun policy of Kim Jong Il.

The reporter stressed that a new effect should be brought in the financial and banking work to reliably guarantee the building of an economic power financially in order to thoroughly implement the line of economic construction set forth by the WPK in the era of Songun.