Friday, June 14, 2024
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No proper accounting process on old FMIS processes

$60 million of pharmaceutical products bought annually by Fiji Pharmaceutical and Biomedical Services are not properly accounted for when the Government’s financial management system with the Ministry of Finance system does not properly link to each other.

This has been highlighted by the Deputy Prime Minister and Minister for Finance Professor Biman Prasad who said that there is a huge disconnect between the two governmental departments.

Prof Prasad said that this would be a thing of the past when the new FMIS is up and running – which it hopes to launch soon.

“Government Pharmacy being one of the major buyers of Government which spends close to $60 million but there is no systematic way of reporting back to the Ministry of Finance when it comes to the reporting system through a software,” he said.

The government has roped in the Asian Development Bank together with Bisan Solutions, which specialises in Government Public Financial Management Systems to develop the new management system, fully integrated with all governmental development.

Prof Prasad said the new system would go live from the new 2024-2025 financial year, which is on 1 August.

The new system would cost the government $12 million and a $1 million annual service fee.

He added that the new system would bring about greater efficiency in our accounting processes; improve financial reporting; strengthen internal controls and audit trails; and enhance the system’s security, which will also be web-based.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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