Why didn’t anyone implement something like this decades ago?
“On Wednesday, Jan 15, at the Good Governance Summit in Manila, President Noynoy Aquino announced that the government is launching a Cashless Purchase Card system as part of its anti-corruption campaign,” reports ANC.
Under the system, the government’s financial transactions will be made through electronic means instead of cash or checks. The system will initially be implemented across three agencies: the Departments of Budget and Management, National Defense, and the Armed Forces of the Philippines. The allowable purchases will be limited to medical supplies, meals, the transportation of official documents, airline tickets, and construction supplies for minor repairs.
Aquino explained, “A recent study identified that one of the major financial risks remaining is the high volume of cash advances in agencies. The risks of this kind of system are obvious: the presence of large sums of cash in offices can pose a temptation to even the most honest employee—not to mention those who would willingly take advantage of such a situation.”
If it goes well, the program will be rolled out and cashless purchases cards will be distributed in other national government agencies in 2015.
Photo from MorgueFile
