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D200 Million is Lost as Duty Waived

By Almamo Kamaso

The National Assembly was informed that Gambia lost up to D200 Million as duty waived, and the Social Security and Housing Finance Cooperation (SSHFC) is owed up to D1.7Billion by State Owned Enterprise (SOEs). The Minister Finance was responding to parliamentary questions Wednesday.

In response to a parliamentary question asked by Hon Member for Kiang West, Hon Fakebba Colley, the Minister for Fiancé and Economic Affairs said the Gambia has disbursed a total of $199.57 Million towards the implementation of the National Development Plan (NDP), which he said represented a 12 percent disbursement rate of the pledged amount from donors.

Further asking supplementary questions as to what is he total grant pledged for the NDP, the ministry was not in a position to provide the figures, but promise to give the total and breakdown at a  later.

When the Minister was engaged as to how much money is owed to the Social Security and Finance Corporation (SSFHC) by other State own Enterprises (SOEs), he replied that  a total of D1.7 Billion is owed , between State own Enterprises.

The  minister’s respond indicates the  breakdown  like this: NAWEC owes D872,238,000, GRTs owes D46,950,00, GCAA owes D92,600,00, GIA owes D15,982,00, GGC owes D233,298,00 , and GOTG owes D421,577,00.

Members pressed further for the minister to disclose the status of the remaining two, GAMTEL and GPA. This he said,  he cannot speculate as  he did not have the information on the two.

Answering related questions from Member for Illiassa Hon Dembo Camara on the statistical data on the rice duty from 2017 to 2018 and how much was lost. The Finance minister Mamburay Njie said there was a total of D119 and D56 Million respectively, as taxes collected during the said period. Whilst revenues lost to waiving taxes amounts to D200 Million in 2019. The minister has a conflicting responses and the Assembly stepped down for him to make further consultations with his technicians as he appeals for.

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