PNG Power boss stops payment for outdated invoices
This was revealed by the Acting Managing Director of PNG Power, Carolyn Blacklock in a statement.
According to the statement PNG Power Limited will not be accepting and settling any invoices from previous years dating from 2010 up to September 30, 2018 for goods and services rendered to PNG Power.
“PNG Power has taken this stringent measure to prevent fraudulent transactions and activities against PNG Power,” Ms Blacklock said.
The statement stressed that the presentation of outdated invoices raises suspicions and does not help in management of financial accounting.
“It breeds illegal activities and causes havoc to prudent and sound business management.”
Meanwhile, service providers are urged to always provide goods and services upon receipt of approved purchase orders from PNG Power and to immediately provide their invoices to PNG Power for payment.
“No payment shall be made without approved purchase orders,” the statement stated.
It explained that late presentation of invoices and approved purchase orders does not assist PNG Power and the respective businesses to foster good accounting practices, honesty and transparency.
It also warned that appropriate legal and criminal actions shall be taken against any service providers and contractors who are found to have been intentionally defrauding PNG Power on their own accord or in collusion or conspiracy with PNG Power’s employees.