Malawi government will roll out the long awaited roll-out of the new Integrated Financial Management and Information System (Ifmis) on 1st July, 2020, President Peter Mutharika has revealed.
According to Mutharika, the new system will tightly close loopholes of pilferage and smoke out ghost workers more effectively than ever.
“With this system, I have a message to all officers working in the public service. If you dare get tempted to steal money from Account Number One, we will catch you and arrest you,” he said in his address to Parliament on Friday.
Mutharika even assured Malawians that the new Ifmis has tight security features expected to prevent a recurrence of Cashgate, the plunder of public resources at Capital Hill, which cost the public purse about K266 billion between 2009 and December 2014 through theft and lack of reconciliation.
Ifmis software is touted to enhance speed and security in processing government financial transactions as well as expenditure tracking and bank reconciliations.
Nyasa Times understand that the new Ifmis will be operated with bi-logs and finger prints; hence, enhancing security.
The 2015 National Audit Office report revealed that most of the financial transactions carried out with the previous Ifmis were not supported by any bidding or purchasing documents.
Malawi is yet to reclaim the trust of donors six years after revelations of Cashgate exposed in October 2013 when Joyce Banda as the President.
Minister of Finance, Economic Planning and Development Joseph Mwanamvekha will present the 2020/21 National Budget on June 12.
Parliament will meet for seven weeks from June 5 to July 24 for the Budget Meeting, which is also expected to tackle Electoral Reforms Bills to facilitate the holding of the court-sanctioned fresh presidential election.Follow and Subscribe Nyasa TV :