Public Finance Management Act to be amended

The Department of Finance is to amendthe Public Finance Management Act to fast trackthe flow of goods and services out of Waigani.

Finance Minister, James Marape says this will also be a framework to guidethe expenditure of public funds.

Draft FinanceInstruction 01/2013 tothe media.

Marape’saidthe Amendments to section-37 ofthe finance Management Act will now see monies can be processed faster for service providers.

Minister Marape’says processes of Procurement and awarding of contracts will be strictly followed by custodians ofthe funds.

LLG’s this time have been given prominence with K500 000 each under Service Improverment Program for village and ward developments.

Provincial Government Budgets stand at hundreds of millions of kina, and DSIP funds at K10 million for each district.

Alice Thomas, National EMTV News

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