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Fin24 reports that National Treasury warned on Monday that government officials responsible for the billions of rands worth of late and non-payment of invoices by national and provincial departments needed to be monitored and punished.
It said that while there had been an improvement in terms of the number of invoices older than 30 days that were not paid at the end of the 2021/22 financial year, there was still "a noticeable regression" in the number of invoices that were paid by national departments after 30 days. Businesses supplying to government, especially small, medium and micro-enterprises (SMMEs), have had to contend with the late payment of invoices for years, exposing them to significant risks. Treasury said payment of invoices within 30 days should be included in the performance agreements of accounting officers, chief financial officers and other relevant officials. "Disciplinary action should be taken against officials who fail to comply with the requirements to pay invoices within 30 days and who undermine the systems of internal control be taken," Treasury asserted. It said accounting officers should ensure that the information to the relevant treasury was signed off and submitted within the timeframes stipulated in the Treasury instruction note. Treasury also said the topic of payment of suppliers within 30 days must be "a standing agenda item at all executive committee meetings of all provincial and national government departments".
- Read the full original of the report in the above regard by Khulekani Magubane at Fin24
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