The Government's Financial Management Information System is scheduled to go online from 1st August 2024.
This has been revealed by the Deputy Prime Minister and Minister for Finance Professor Biman Prasad while delivering his Ministerial statement and says this is the accounting system for the whole of government which will bring greater efficiency in accounting processes, improve financial reporting, strengthen internal controls, improve timeline and enhance the security of the system.
Professor Prasad says the Ministry has been going through numerous reforms to modernise its IT systems and processes to embark on major IT projects, to replace the current two-decade-old Financial Management Information System and a 40-year-old payroll system.
The Deputy Prime Minister says around 20 years ago all these processes were done manually and there used to be challenges.
The Finance Minister says this system is managed by the Ministry of Finance to pay the salaries of about 35,000 civil servants.
He says this particular payroll system was not integrated with the FMIS and was outdated and that there were no provisions provided for the upgrade of the system as well.
While responding to the statement, Opposition MP Alvick Maharaj says although technology is very important, there are certain entities such as municipal councils and provincial councils where there is a to implement the software.
He suggests that the software should be expanded to all the other ministries as well.
