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The Premier for Guadalcanal Province, Francis Mbelande Sade, says the Guadalcanal Provincial Government aims to make the province debt-free.
In his speech marking the 36th anniversary of the Guadalcanal Province’s Second Appointed Day, Premier Sade says his Executive’s goal, “is to make Guadalcanal Province debt-free, financially independent and sustainable.”
“I know that some people may think this is an impossible dream. We think it is possible, if we harness and properly manage the resources we have so that they benefit Guadalcanal Province and its people. We have enough resources on this island to be economically self-sufficient. For us, this is not just a dream. It’s a goal,” says the Premier.
He told the gathering when his Executive came into office in July 2019, it inherited $22 million in debt accumulated over the years.
“In one year, we have paid off $8 million, 36% of the total debt, with $14 million remaining,” he says, adding that his Executive plans to pay off the debt soon and declare the Province debt-free.
He told the gathering part of the challenge is to improve revenue collection, noting that in the first quarter of this financial year, the province collected $3.2 million in revenue, compared to the same period last year.
But the Premier says this does not reflect the actual revenue that the Province should get from business licenses, property rates, basic rates, etc. and the administration is working to update data on businesses and properties within the Province.
He says the administration’s preliminary findings show the Province should get around $50 million per year in revenues.
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