$35 million supplementary budget prepared for approval

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money

By Alfred Sasako

THE Government will bring down a $35 million supplementary budget during its first 100 days in Office in order to meet a shortfall in annual contribution for the 2023 Pacific Games, its first 100days in Office document shows.

At the same time it will seek confirmation on a K40 million (about SBD120 million) donation for the Games by Papua New Guinea, the document says.

Already Cabinet has agreed on a $110 million-a-year contribution for the Games’ fund, but it appeared there was a shortfall of $35 million in this year’s funding. A supplementary budget for the shortfall would be prepared for Parliament’s approval.

These are among a raft of activities the Government plans to undertake in its first 100 days in Office as it prepares to host the Pacific’s sporting bonanza in 2023.

In terms of legislative and regulatory requirements, the Government plans amend the National Hosting Authority Act (NHA) as well as the Regulations on Duty, GST, foreign contractor tax exemptions, sponsor incentives, trade markings and other protection as well as establishing the Games Procurement Tender Board.

In the area of budget and finance, the government plans to open a Sports Solomon Account, prepare and submit (a) supplementary budget of $35 million to meet the target approved by Cabinet for the SIG annual contribution of $110 million to be incorporated in the Supplementary Appropriation Bill (2019).

The government also hopes to finalise sponsorship and other fundraising plans for the Pacific Games2023 in its first 100 days in Office along with establishing the Games facilities committees.

Other 2023 Pacific Games activities it hopes to conclude in its first 100 days in Office include:

  • Negotiate price for and purchase of the NPF land (former Telekom recreation site) as the location for the new Solomon Islands Sports Leadership/Solomon Islands National Institute of Sports;
  • Finalise plans for renovations and buildings and tender for work to commence; and
  • Finalise discussions on 2, 000 square meter office complex for temporary use for the PG2023 to be the legacy office complex for Sports administration and all sports federations in Solomon Islands.