FCGO eyes IFMIS to reform public finance management

Kathmandu, June 6

Financial Comptroller General Office (FCGO) has started the legwork to develop the integrated financial management information system (IFMIS).

The system will be interfaced with the web-based data and information management system of various ministries and departments, according to Kewal Prasad Bhandari, the joint financial comptroller. “The IFMIS will be a milestone in reforming the public finance management.”

‘Initiatives taken in the public finance management reform have started delivering results, however, we have a long way to go to achieve the desired outcome,’ Bhandari said.

Speaking during an interaction programme titled ‘Interaction on Public Expenditure and Financial Management’ jointly organised by Public Expenditure and Financial Accountability (PEFA) secretariat and Society of Economic Journalists Nepal, Bhandari further said that proper execution of the budget is also one of the major aspects of the public finance management and that is why the fiscal budget 2017-18 has provisioned some measures to ramp up capital expenditure and ensure delivery of quality works.

The policy and decisions taken by the government will have huge impact in service delivery and the government should always focus on efficient and effective service delivery, according to Bhandari.

The FCGO is all set to integrate remaining 25 districts in Revenue Management Information System from the beginning of next fiscal and thereafter the FCGO can disseminate real time data of public expenditure and revenue collection, according to Murari Niraula, member secretary of the PEFA secretariat.

National PFM consultant Rajendra Bajracharya laid emphasis on the need for the government to focus on improving its weaknesses in public finance management as identified by the PEFA assessment, which was last carried out in 2015.