The abolishment of private sector cheques has been rushed, says PNG National Party Leader & Sinasina-Yongomugl MP, Kerenga Kua. He says it is disappointing that the Bank of Papua New Guinea (BPNG) has officially phased out cheques on June 30, without proper scrutiny and debate from Parliament. The phasing out of cheques has pushed many Papua New Guineans and businesses to use alternatives instead. “I still maintain that the phasing out of an important banking tool like cheques and should have been brought into parliament by way of a bill to be debated, and passed if agreed,” Kua said in a statement. “While I have no problem with our banking system moving toward the use of digital alternatives in due course, I still feel our country needs more agreement for such a move and a big shift should require the backing of parliament.” “What mandate does the Central Bank have to decide the fate of the very instrument which drives the economy?” “What other third-world countries in the world have done this,” Mr Kua questioned, stating that it is ‘merely an instruction by the Central Bank with no binding regulation’, and does not stop future governments from bringing back bank cheques. “The Parliament has had zero say on this issue, other than questions without notice last year.” “I also add that cheques can be classified as a type of bills, under the Bills of Exchange Act, so in my opinion, only Parliament should decide for the abolishment of cheques given it is a major paradigm shift in our banking system.” Kua further asked BPNG to further clarify how binding this decision is, and to liaise accordingly with the Treasurer to ensure ‘making decisions in the best interest of the country’.