ISLAMABAD: Capital Development Authority (CDA) and Controller General of Accounts (CGA) on Wednesday signed a Memorandum of Understanding (MoU) to enhance transparency, stability, digitisation and cashless system of CDA`s financial management.

According to a press release, the MoU was signed during a ceremony held at the CDA headquarters.

`The objective of the MoUis to implement a comprehensive asset management system in CDA through Standard Accounting Procedure (SAP) an internationally recognised Enterprise Resource Planning (ERP) platform.

Under the MoU, systems, applications and products in data processing (SAP) will be utilised to streamline various functions, including budgeting, accounting, payroll running, procurement, inventory and fixed asset tracking.

This system will facilitate real-time data processing, centralised reporting and stronger internal financial controls,` read the press release.

CDA Chairman Mohammad Ali Randhawa stated that signing the MoU with the CGA was part of CDA`s broader vision to strengthen, modernise and stabilise the authority`s financial system through advanced digital technology.

`This will not only improve CDA`s performance but also enhance public service delivery,` he was quoted in the press release as saying. Staff Reporter