This has been clarified by the Ministry of Finance with the Office of the Auditor-General during the audit exit meeting, but the Ministry says the explanation does not appear to have been appropriately reflected in the audit report.
They say the funds have been used for payments including the inflation mitigation payout, bus fare subsidies and back-to-school support.
Permanent Secretary for Finance Shiri Goundar says Digital payments through M-PAiSA and MyCash have become a key part of Government’s payment system, with almost $500 million disbursed through the platforms since 2020.
Goundar says the payments include COVID-19 unemployment assistance, inflation mitigation payments, bus fare subsidies and back-to-school support.
He says M-PAiSA and MyCash serve a similar purpose to Government bank accounts, where sufficient funds are maintained to meet payment needs.
Goundar says proper internal controls and reconciliation processes are in place to ensure taxpayer funds are used in accordance with appropriations approved by Parliament.
He adds records are maintained and available for reconciliation and audit verification, while a standard operating procedure is in place for the use and recording of digital wallet funds in Government accounts.
