My only suggestion make it an permanent highest level commission headed by CJP who keep tab how much loan any govt acquire as its finally have to repaid by ordinary peoples they have right to know how much and for what purpose govt take loans on their name
And my suggestion will be instead of this (as CJP is also part of status quo), is to make amendment in constitution where
1) Taxes should be divided into three parts
a. General Taxes to run state
b. Taxes to finance the subsidies/freebies (Revenue from general taxes can't be used to finance subsidies and lollypops to get populous vote)
c. Taxes for loan repayments
2) Government in every budget should tell how much it's going to tax people for subsidies/freebie schemes.
3) Government must take approval to get new loan (in any form) from parliament first, and must tell (1) How much loan it's going to take, (2) From whom and on what terms (3) At same time get approval to raise loan repayment taxes to ensure that repayments will be done.
4) Government must publish quarterly reports on (1) General revenue collection and spending (2) Revenue for subsidies/freebies collected and spending (3) Loans taken, spending progress and revenue collected for repayment.
In this way the idiot mango man will understand that nothing is free in this world, the subsidies/freebies he is getting is coming out of his/her own pocket and he/she is paying loans government is getting. In this way, it will not be only CJP/NAB/PAC etc. who will be monitoring government, Public will also be involved.