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Port Moresby
December 9, 2021
Business News

System Launched to Monitor Money Usage


by Theckla Gunga – EM TV News, Port Moresby

A financial management system designed to record and manage all government allocated funds was launched this afternoon by Finance Department Secretary, Doctor Ken Ngangan, in Port Moresby today.

The Integrated Financial Management System is a computer software that gives government bodies a visual evidence of how government money is being spent. It performs a similar role to the process of a debit or credit card and allows visibility on government funds.

“IFMS will give government departments an idea of how money is used and it is likely to minimise mismanagement practices within the government officers,” Dr. Ngangan said. 

He said the software was only in use for over a year, but today there are at least 15 government departments already using the IFMS to manage government allocated funds. 

Secretary for Communication and Information Department, Paulias Korni, who was also present for the launch said communication and information department will use IFMS to monitor its financial transactions and hopes transparency is maintained.

“This integrated system will ensure there is accountability and transparency,” Secretary Korni said.   

The launch comes as more government offices want to see mismanagement practices minimised and be able to account for all allocated government funds. 

The PNG Fire Department and Electoral Commission are two other government departments also using IFMS.

https://youtube.com/watch?v=aXAnbQ6SvfA%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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