Wale calls on SIG to address cash-flow crisis
Leader of Opposition, Hon. Matthew Wale calls on the government to explain how it is going to meet the cost of salary, utility payments and other urgent obligations when Government is struggling with its revenue collections.
Hon. Wale made this call after receiving news confirming the difficulty faced by the government to pay its dues as a result of a shortfall in revenue collection.
Hon Wale stated, “According to information I have received, Treasury has experienced a decline in revenue collection during this month, June 2021 which has resulted in a shortfall in revenue collection of some $40 million”.
He added that, “this is affecting the settlement of outstanding payments of $103 million that was cleared through the compliance process and ready for payment. It is evident that the government’s money basket is empty”.
He said the current cash flow crisis is a challenge and the government needs to address it to allow delivery of essential services, especially health and education in the country.
The Opposition Leader therefore calls on the government to inform the people of this country to be aware of this financial crisis, especially if the cash flow problem continues’.
“The government should not hide the problem and inform people of this country of its financial position and what plans are in place to address it,” Wale added.
He also added that our people need to know about this important issue, not to be silent and pretend that everything is okay when in fact we are facing a big problem”.
Hon. Wale again calls on the government to remain alert on this situation as it seems that a nation’s financial woes will persist.
He went on to further add that, “A financial crunch seems imminent and I must warn the government to be alert and seriously look into how it will effectively increase revenue collection and build the country cash reserves to adequate and comfortable levels’.
“We can’t sit back and watch the country sink into financial difficulties while the government is giving priority to other things that are not important to the country”, said Hon. Wale.