Malaita and Isabel provincial governments embark on debt stock-taking

The Premiers of Malaita and Isabel provinces are currently embarking on a stock take of all debts owed to individuals and businesses by their respective Provincial Governments.

And they warned that only people who believe they have legitimate claims under the following circumstances will be considered for inclusion in the stock take which will begin on November 13 and end on November 17.

1. Unpaid loan or cash advance;
2. Unpaid invoices for goods or services provided to the Provincial Governments; and
3. Unpaid refunds.

“If any individuals or businesses believe they have a legitimate debt with the two Provincial Government, they are asked to kindly present documentary evidence to the Provincial Secretaries in Auki and Buala on any day, during business hours of the week beginning Monday 13 November and ending Friday 17 November 2006,” a statement from the Debt Management Unit of the Department of Finance said.

“Documentary evidence includes copies of Payment Vouchers, Contracts, Loan Agreements, written requests by provincial government official requesting work to be done, receipts and invoices.”

The premiers wish to emphasise that only legitimate claims that can be verified and supported by documentary evidence will be considered for inclusion in the stock take. The undertaking of this stock take is representative of initial steps being undertaken by both Provincial Governments to assess and establish the true financial position of the Governments, and as such, will eventually lead to more effective financial management and decision making.

Source: Government Communications Unit