WPG to control virement and financial reserve

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BY BEN BILUA
In Gizo

The question of Virements and why Western Province’s Reserve Account has zero balance were raised during the budget meeting currently ongoing in Western Province.

Provincial Member for Dunde Nusa Roviana Ward, Ramrakha Talasasa questions as to why the Province’s Reserve Bank has no funds.

Provincial Member Samuel Sive also questioned as to why there are lots of virements or the transfer of money from one financial account to another.

Responding to the questions, Minister of Finance for Western Province, Christian Burly Mesepitu says the existing government will enhance its system to address virement applications.

In his response to the Western Province’s Reserve Bank, Mr Mespitu says his office is looking at reviving the system of depositing surplus funds to the Reserve Bank since it has been absent over the years.


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