PM points to potential funding sources

June 17, 2024 6:25 am

Prime Minister Sitiveni Rabuka

Prime Minister Sitiveni Rabuka has not directed Finance Minister Professor Biman Prasad on how to finance the pay and allowances increase for Members of Parliament.

However, Rabuka has suggested potential sources for these additional funds.

When asked if he had directed the Finance Minister to find the necessary funds, Rabuka stated that Prasad should have a clear understanding of the revenue stream when cabinet work out its revenue streams.

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“That should be clear to him when we work out how much we expect from our own revenue collection when we look at the volume of the economy and how much is expected to come in in term of the revenue.”

The Prime Minister also hinted at the possibility of utilizing loans that have not been fully exhausted.

“We can work out how much we expect in loan, what loan have not been fully drawn and that we are still working on those programs that extend from budget year to budget year that’s not been fully extended and that will continue to be used as we go into this year’s budget.”

Meanwhile,  Rabuka stated that MPs will need to regain the 20 percent pay cut they previously took before receiving any increase.

He also mentioned the possibility of implementing these increases in stages.

The Finance Minister will announce the 2024-2025 National Budget on Friday next week.