By GINNAH MINI
Secretary for the Department of Works and Highways (DoWH), Gibson Holemba, says the new Electronic Funds Transfer (EFT) system will reduce costs—specifically for Provincial Works Managers who previously had to travel to Port Moresby to collect cheques.
Speaking at the official launch of the EFT system, Mr. Holemba noted that the frequent travel was a major expense. With payments now approved and processed digitally, managers will avoid unnecessary trips, saving both time and personal costs.
He explained that the department faced challenges with the inefficiencies of manual fund management. The new online system will modernize processes, allowing officers to remain in their provinces while still accessing funds securely.
“It’s a step in the right direction: in terms of reducing cost, reduction in expenditure on recurrent cost and we can improve some of these savings into staff housing maintenance and other areas where we can support staff development,” Mr. Holemba said.
“I’m glad that this technology is coming in to support us as we transition from some of our main Trust Accounts that we operate, and will now be transferred into an online system: eventually we’ll transfer the main drawing account.”
Mr. Holemba also noted that, with the department spearheading the Connect PNG Program, accountability is critical. The EFT system will improve transparency by making expenditure tracking easier.
Under the EFT Payment System arrangement:
●Payments will be processed electronically from IMFS directly to suppliers’ bank accounts.
●Physical cheque printing and manual cheque handling will progressively cease.
●Supporting documents will be submitted electronically through the ‘Storimpepa’ platform
●BPNG and commercial banks will process EFT payment files generated through IFMS.
●Agencies will be required to maintain accurate supplier records and supporting documentation.
The department will transition to EFT, aligning with the government’s digital transformation agenda and strengthening financial accountability across the organization.