Papua New Guinea Minister for Finance and Rural Development Sir John Thomas Pundari has given instructions to increase efficiency within the Finance Department. The Minister has instructed for the cancellation of all finance codes used to deduct loan repayments from public service payroll. Sir John gave the ultimatum citing a needless waste of time and resources by the Finance Department. "The Department should not be used as a debt collector" said the Minister. "The Secretary has been instructed to cancel the codes pending a review of the process." Minister Pundari advised the cancellation is in line with the Government's Take Back PNG priorities. He stated that from initial reviews that a very large sum of money; amounting to millions is deducted to only a few companies that have foreign ownership. "I see no reason for the Finance Department to continue this practice" said Sir John. "Finance companies must seek out other means, preferably an arrangement with banks to collect repayments for their loans."
Pundari further advised that during the review, other options will be looked at. He did not rule out the possibility of recommencing the practice, but under very different conditions than current. "There must ultimately be a limit on deductions allowed to each company so we have increased competition and fairer participation for local firms." The Finance Minister said this is the beginning of many reforms he is looking at to increase the productivity in the Department. Pundari indicated that a Government payroll review will be conducted as a priority and also stated that agendas like the Housing for Finance Dept staff and a final report on APEC assets are on his priority list. "These are challenging times the country is facing and some tough decisions will be made. We will be reviewing current processes to ensure efficiency in the Finance Department. We have identified the low hanging fruits we can improve on and will do them," concluded Sir John. Pundari assured the public that the Government is doing its best and will continue to do so. Statement Next : Kramer Speaks Out On The Abolishment Of PNG Police Department Comments are closed.
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