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DATA IS KEY

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CBSI Governor, Dr Luke Forau

Central Bank governor stresses research will boost policies to shield economy from shock as it recovers from pandemic

BY NED GAGAHE

Our economic policies must be responsive, adaptive, and based on the best available data. In this regard, the importance of fostering a strong research culture within the Central Bank cannot be overstated.

Central Bank of Solomon Islands (CBSI) Governor Dr Luke Forau echoed these sentiments at the joint inaugural research conference co-hosted by CBSI, Asia-Pacific Applied Economic Association (APAEA) and Asian Development Bank Institute (ADBI) yesterday.

“High-quality research is the foundation upon which sound policy decisions are made. It enables us to better understand the dynamics of our economy, identify potential risks, and design policies that are not only effective but also sustainable.”

The Governor stated that through the collaboration with APAEA and ADBI, he is optimistic that the Central Bank will be able to engage in joint research projects that will have a tangible impact on our economic policymaking in the country.

He said one of the most critical aspects of this international collaboration is the opportunity to partake in evidence-based policymaking.

Forau said Solomon Islands is at a juncture where high-quality research and data-driven analysis are essential for addressing both immediate and long-term economic challenges that we face.

He stated that the insights learned from joint research initiatives will allow us to design more effective monetary and fiscal policies, ensuring that our economy remains resilient in the face of external shocks, especially as we recover from the pandemic.

The Governor stated that monetary policy plays a pivotal role in maintaining macroeconomic stability, and its importance to Solomon Islands cannot be overstated.

“However, the effectiveness of monetary policy is intrinsically linked to the effectiveness of fiscal policy. These two elements of economic governance must work in tandem to ensure that our nation’s economic stability is preserved and that the benefits of growth are shared equally across all sectors of our society.

“One of the key outcomes I hope to see from this collaboration is a more nuanced understanding of how monetary and fiscal policies interact, and how we can optimize these interactions to benefit the people of the Southern Islands.

“Through data analysis and high-quality research, we will be better positioned to design policies that not only promote macroeconomic stability, but also drive sustainable, inclusive economic growth.

“In today’s rapidly changing global economy, the need for such research and collaboration is more pressing than ever. The world is facing unprecedented economic challenges, from the lingering effects of COVID-19 to the rising threat of climate change,” Forau said.

Burglary case moved for Nov 6

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BY ROMINAH FAKA

CORRECTED VERSION

The case of three men accused of burglary has been moved for November 6 for pre-trial conference (PTC).

Joe Malau, Matthew Malau and Frank Firimolea were in court on Wednesday (Oct 30, 2024).

The hearing was for PTC however Matthew’s lawyer informed court there were issues with the charges and particulars.

Prosecution sought an adjournment to finalise the issues raised by defence.

Court made directions for counsels to settle the outstanding issues raised in court and for the parties to settle the PTC before the next mention date.

Prosecution charged Joe, Matthew and Firimolea with Burglary contrary to section 299 of the Penal Code.

It was alleged on June 10 this year at around 7pm in the evening, the complainant was still at his JX enterprises shop when the defendants drove into the eastern gate of the Fangs area at Tandai in a white carldina car.

The complainant is Mr Wei June We, a Chinese male.

The defendants stopped the car at the eastern side of the building and Matthew and Firimolea walked up to the complainant’s room while Joe walked to the security guard at the gate area to ask for a car jumper to start their car, allegations said.

The guard then reportedly asked him to drive out since he was going to close the gate.

It was alleged Matthew and Firimolea opened the door by damaging the lock and went inside the room and removed 1x ctn red bro cost $ 5850, 1x ctn white bro $ 6950, 1x ctn green pall mall $ 7650, 1x ctn blue pall mall $ 7650 , 1 x ctn solbako $10250, 2 x Huawei mobile phone $3850  and cash of $334000 and then escaped via the same white caldina.

The defendants had already left when the wife of the guard and another Chinese female discovered the break-in.

They alerted police, who apprehended Joe and Mathew while Firimolea escaped with a huge amount of money.

During interview Joe allegedly confessed his involvement with Firimolea.

Police then searched for Firimolea but were unsuccessful until August 26 this year when he was sighted at Foxwood area and apprehended by the Central response team.

Bobby Harunari represents Joe, Ron Dickey Pulekera represents Matthew and Rochella Pama represents Firimolea whilst Monica Rehamora of Public Prosecution Office appears for the crown.

Possible plea for 3 men in burglary case

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BY ROMINAH FAKA

CORRECTED VERSION

The case of three men accused of burglary has been further adjourned for October 16 for possible plea.

Joe Malau, Matthew Malau and Frank Firimolea are facing charges of burglary.

Yesterday’s (October 3, 2024) hearing was for the three accused to take their plea however defence informed court of an ethical conflict with Firimolea, suggesting he be represented by a different lawyer.

Defence sought a 14-day adjournment to allow the public solicitor’s office (PSO) to allocate a lawyer for Firimolea before the three defendants can take their plea.

It was alleged on June 10 this year at around 7pm in the evening, the complainant was still at his JX enterprises shop when the three accused drove into the eastern gate of the Fangs area at Tandai in a white caldina car.

The complainant is Mr Wei June We, a Chinese male.

Allegations add that the defendants stopped the car at the eastern side of the building and Mathew and Frank walked up to the victim’s room while Joe walked to the security guard at the gate area to ask for a car jumper to start their car.

The security guard then asked him to drive out since he was going to close the gate.

It was further alleged that Mathew and Frank went upstairs of the building, opened the door by damaging the lock, went inside and removed 1x ctn red bro cost $ 5850 SBD, 1x ctn white bro $ 6950 SBD, 1x ctn green pall mall $ 7650 SBD, 1x ctn blue pall mall $ 7650 SBD, 1 x ctn solbako $10250 SBD, 2 x Huawei mobile phone $3850 SBD and cash of $334000 SBD and then escaped via the same white caldina.

The defendants had already left the scene before the wife of the security officer and another Chinese female discovered the break-in, allegations said.

They quickly alerted police. Police apprehended Joe and Mathew while Firimolea escaped.

During Joe’s interview he allegedly confessed his involvement with Firimolea.

Police searched for Firimolea but were unsuccessful until August 26 at 7pm when he was sighted at the Foxwood area and apprehended by the Central response team.

Bobby Harunari represents Joe and Ron Dickey Pulekera represents Mathew while Monica Rehamora of Public Prosecution Office appears for the crown.

Gov’t to look into Tax Bill next year

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Prime Minister Manasseh Sogavare.

By Loretta B Manele

The Government for National Unity and Transformation (GNUT) will have to look into the tax bill next year.

Manasseh Sogavare, Minister of Finance and Member of Parliament for East Choiseul constituency stated this in parliament yesterday.

He said bills are coming up and they will have to look into the tax bill next year, noting that it is a big bill and a very important one at that.

Sogavare added that from this bill, the government is looking at reforming the country’s tax system.

In regards to the bill, he said they should be taking the country forward by addressing major structural issues like the costs of government and utilities.

Meanwhile, he also shed light on the delay of constituency funds.

Sogavare explained to members of parliament that they were supposed to release some constituency funds last Friday however had to prioritize our students who were also in trouble in at USP, Fiji.

“We are here at home so we are okay, but our students are living in foreign land so they don’t have options so we needed to quickly assist them”

Sogavare assured the house that he has spoken to the finance permanent secretary and they should release some payments this week.

“I also assure that every constituency funds should not go past December”

Sol Tuna’s October monthly promotion draws successful

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BY JOHN HOUANIHAU

Three individuals have emerged as the winners of the October 2024 Sol Tuna promotion monthly draw.

The draw took place successfully at ITA Hardware, located next to the Low-priced Enterprise building at Point Cruz in Honiara, earlier this week.

The prizes awarded in the October draw included a brand-new MITSUKI motorbike, a new portable generator, and a STILL FS 55C Brush cutter.

The selection of winners was conducted by random individuals from the audience present at the event, who drew Tuna Labels containing the names and contact information of the lucky recipients.

The winners of the Sol Tuna draw, announced yesterday afternoon, were not present at the venue but are expected to collect their prizes within the week. The winners are Mr Warren Sade, who claimed the first prize of a new motorbike; Ms Winney Upu, who won the generator; and Mr Wilfred Rove, who received the grass-cutter.

Paul Sikwa’ae, the Sales and Marketing Officer of Sol Tuna Ltd, told Island Sun that the monthly draw commenced in August of this year and will conclude in December.

He clarified that this initiative is part of Sol Tuna’s premium promotional activities.

“To enter the draw, simply purchase any Tuna product, remove its label, and write your name and phone number. It is quite straightforward. Similar draws will be conducted in November and December. The promotion is designed to give back to the community,” said Sikwa’ae.

He said that Sol Tuna aims to ensure transparency in their operations, allowing the public to witness the process.

“We want participants, especially those who receive prizes, to have confidence in the draw. They should see the process and receive their winnings in person,” he added.

Sikwa’ae also provided information regarding the label collection process, stating, “After collecting all the labels, we sort them. During this process, we disqualify any dirty labels, such as those stained with oil or recovered from bins. Labels must be clean, meaning they should be purchased from the store and disposed of in designated boxes.”

He said that approximately 30,200 labels were sorted for the October draw.

“The number could have been higher, but some were disqualified due to the criteria I have mentioned.” Said Sikwa’ae. “The grand draw for the monthly promotion in 2024 is scheduled for January 2025, featuring a Mega cash prize of $100,000. The distribution of prizes will be as follows: 1st place will receive $50,000, 2nd place will receive $30,000, and 3rd place will receive $20,000,” Sikwa’ae said.

12th parl urged to put a stop to corruption

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By Loretta B Manele

The 12th parliament has been urged to put a stop to corruption, such as the likes exposed by the auditor general’s report on the economic stimulus package (ESP).

“We are leaders, let’s take it up. If there is alleged corruption there, let’s put a stop to this.”

John Maneniaru, chairman of the Bills and Legislative Committee and member of Parliament for West Are’Are constituency stressed this whilst referring to the Economic Stimulus Package (ESP) audit report in parliament yesterday.

He commended the prime minister and government for putting perspective into this audit report.

Maneniaru said this is something we must address because our people are making observations of it to the point of even making allegations about it.

He expressed that they are members of parliament thus must put a stop to this and redirect the country.

Maneniaru mentioned that there is also the Festival of Pacific Arts (FOPA) report that is known to people and given that it is small report, people have also made a lot of allegations about it.

“When I was temporarily in government, we dealt with outstanding bills, government ministries had to look for money to sort it out.”

Maneniaru pointed out that the more reports that come the better so they can address them heads on as responsible parliamentarians.

“If there is a need and if there’s a way, let’s redirect this country.

“So PM, I commend you and the government let’s address these reports heads on and redirect this country and put a stop to direct and clear corruption if those allegations are true.”

Climate change, EU’s top priority

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BY JOHN HOUANIHAU

The European Union has highlighted that climate change remains the critical issue in its relationship with Solomon Islands.

Newly appointed Ambassador of EU to the Pacific, Barbara Plinkert, in an interview with local media, remarked on the significance of climate change, stating that her observations during her time in Honiara and its surroundings confirmed its urgency.

“We visited several projects and observed the profound impact this issue has on the security and livelihoods of the nation. It is a subject of ongoing discussion at the multilateral level,” she said.

She highlighted the upcoming COP 29 conference and reiterated that the Pacific region consistently relies on the European Union’s support in tackling climate-related challenges and in promoting initiatives addressing loss and damage.

 “The European Union stands as the largest global contributor to climate finance, both in our bilateral engagements with the Solomon Islands and in our regional cooperation with the Pacific,” Ambassador Plinkert stated.

She said that climate change is a primary concern, asserting that it is a top priority in the multilateral context, fostering significant cooperation and partnership with the Solomon Islands.

Furthermore, she mentioned that regional collaboration is structured under the Samoa Agreement, which was established in Samoa last year.

“This comprehensive agreement involves the African-Caribbean-Pacific countries on one side and the European Union on the other. It has outdated the previous cotton agreement and now governs our relations,” Ms Plinkert explained.

She added that the Samoa Agreement encompasses a wide array of countries, with three specific protocols defining the relations of each region with the European Union.

“A Pacific protocol has been established to cater to the specific needs and priorities of the Pacific region, aligning with the 2050 strategy of the Pacific group, which now requires implementation,’’ she stated.

“At this juncture, we are engaged in discussions regarding the implementation of the priorities outlined in this agreement at the regional level. Consequently, all our collaborative efforts with the Pacific will be governed by this Samoa agreement,’’ Ms. Plinkert said.

Preparation of budget is not easy: Ramofafia

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By Loretta B Manele

For the government, unlike in past years preparing the budget these days is not easy.

Rexon Ramofafia, Minister for National Planning and Development Coordination (MNPDC) expressed this in parliament on Monday, Nov 4.

The Member of Parliament for Fataleka constituency said the preparation of the budget is not easy because of the challenges and environment the country is in as compared to before 2019 where logging played a major role in financing annual budgets.

Ramofafia stressed that looking at the situation especially from the last four years up to now, bringing the budget to the table is a bit challenging for the government.

He said the government is looking at how best to bring the budget and according to their timing, they hope that it will be brought soon to parliament so the Public Accounts Committee (PAC) can scrutinise it.

“I am also happy that PAC assured parliament that the priority is for us to pass the budget.”

Ramofafia said the PAC chair pointed out that people are waiting to see how the budget will look like for the next year.

He said this is what the government, cabinet and caucus are concerned about thus before the budget makes it way to parliament, they want to be sure about the transformative programs that really need to be included in the budget.

PAC to deal with audit reports next year: Wale

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By Loretta B Manele

The Public Accounts Committee (PAC) will deal with audit reports including the Economic Stimulus Package (ESP) audit report during the first quarter of next year.

Mathew Wale, Leader of Opposition and Member of Parliament for Aoke-Langalanga made the statement on Monday in parliament during the motion moved by the prime minister that parliament be specially adjourned for Friday, Nov 15.

Mr Wale told parliament he acceded to PAC’s request that motions be held on until they carry out a detailed inquiry into them before it comes to parliament so that they have the benefit of a more comprehensive picture after the inquiry.

“In fact, they are saying that they will deal with audit reports including the ESP audit report during the first quarter of next year.”

Wale said in any case with regards to Nov 15, he can always lodge another motion on a report that has not been audited so they can be productively employed on Nov 15th when parliament resumes.

Moreover, whilst updating parliament, he said two bills have come and one of them, the Special Economic Zone bills is a very important one that has implications on provincial government functions.

Wale added that the Bills and Legislation Committee (BLC) has resolved to deal with this bill as well in the first quarter of 2025 so as to have a broader inquiry to include provinces.

“So, I think the chairman has written to the Honourable Minister for Commerce for a little funding to go around.

“Just like the Ministry of Education did last year. The ministry of education was able to support the committee to deal with what was then the Education Bill. So, it’s the same kind of arrangement.”

Wale also said the committee is almost done with the Amendment Bill of the SOE Act.

He said there have been some discussions between the committee and the Ministry of Finance and Treasury (MoFT) which he thinks will then go into more discussions with cabinet.

Wale stressed that they should focus on the budget so everyone can be free for the Christmas season.

“Let’s pass it quickly.”

Special Economic Zone bill vital for private sector

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Minister of Finance and Treasury Harry Kuma

By Loretta B Manele

The Special Economic Zone bill is vital for the private sector and a bill that has been in the making for more than 10 years now.

Harry Kuma, Minister for Industry, Commerce, Immigration and Labour (MICIL) echoed this in parliament during the motion of special adjournment of parliament for Nov 15th.

He said a lot of extensive consultations have already taken place, penned on, done and a lot of money has also been spent in the process.

Kuma said it is important that reports from consultations done extensively under concerned stakeholders are revisited for the bill.

He pointed out that they have always said the private sector is the engine of growth so this bill stands as one of the bills that will allow the private sector to go to the rural areas if a special economic zone is declared there.

Kuma said the chairman of the Legislative Bills Committee (BLC) will have time to do consultations on the bill and can even start today because the bill is already here.

He noted that his ministry will not be able to support the bill in terms of finance for the committee to do country wide consultations because they have already done that and spent a lot of money in doing so.

Kuma said he understands that the budget is the government’s priority at the moment hence the bill may be deferred for next year.

In closing remarks, Prime Minister Jeremiah Manele said we all know it has taken years for the Special Economic Zone bill to get here and it is an important piece of legislation in terms of growing the Solomon Islands economy and attracting investors.

However, he said because of the tight schedule of their meeting they will look into the bill in the first quarter of 2025 when parliament resumes.

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