22.7 C
Port Moresby
October 22, 2021

Financial Roadmap Launched

by Fabian Hakalits – EM TV News, Port Moresby

A financial management system that consolidates public funds and expenditure will be rolled out to improve the budget outcome delivery here in Papua New Guinea.

Minister for Finance, James Marape, says Papua New Guinea is achieving goals in terms of framework and planning, but the deliverable in every fiscal year needs to be tightened.

“Economic numbers and as far revenue is concerned, givesus an opportunity to fix the systems we have internally so that we can save and improve delivery to our people. So a lot of weakness and leakages happening to our system [need to be] tightened,” said Marape.

Marape challenged the Finance Department to ensure the system is deliverable.

“We, as officials, it starts with us in the central agencies to identify and fix weakness and leakages.

Finance Secretary, Dr Ken Ngangan, said all agency partners will comply under this framework that aims to strengthen fiscal discipline with strategic resource allocation.

Dr Ngangan said that this framework will ensure all provincial governments perform to capture accurate financial reports, which are required under finance and monetary laws. 


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