The Department of Budget and Management (DBM) signed an agreement with three authorized government servicing banks for the implementation of the online release of notice of cash allocation (NCA).
In a statement, Budget Secretary Amenah F. Pangandaman said the DBM signed the memorandum of agreement with Land Bank of the Philippines, Development Bank of the Philippines (DBP), and Philippine Veterans Bank (PVB).
Pangandaman said the agreement with the two state-owned lenders and PVB on online release of the NCAs is proof of the government’s continued thrust toward achieving bureaucratic efficiency.
“Releasing these documents in digital format may seem like a small step but this is a crucial digitalization initiative as it will not only improve ease of doing business; it will also bring us an estimated cost savings of around P2.8 million per month,” Pangandaman said.
The digital release system will also reduce costs for security paper, printing, supplies, and transportation expenses for physical claiming of documents by agency representatives, the budget chief said.
The online release of the NCAs will be carried out through the DBM’s Action Document Releasing System (ADRS), a web-based application that facilitates the release of approved DBM action documents in digital format.
Budget Undersecretary Maria Francesca del Rosario said the institutionalization of the online release will promote greater transparency and efficiency as it eliminates unnecessary steps and paper wastage in physically signing, routing, and photocopying.
Meanwhile, Reynaldo Capa, LandBank first vice president said the lender is committed to play its role in ensuring a more streamlined and efficient process for releasing NCA to provide immediate, transparent, and efficient public service.
“Together, we will further help enhance the expenditure performance of national government agencies to implement key programs, activities, and projects in the most immediate time,” Capa said.
For his part, Philippine Veterans Bank Branch Banking Group Head Edwin Amahan expressed, “This is an example of how youthful administrators can do wonders in public governance. Philippine Veterans Bank stands with you in this very noble journey.”