BY LORETTA BRIGIDIA MANELE
THE MFMR collected more revenue than projected in the budget for the last five years to 2016 averaging 51 percent more over that period.
The above statement was expressed in Ministry of Fisheries and Marine Resources’ (MFMR) Business Plan (2018-2023).
In relation, MFMR mentioned that the growth in the actual revenue collected peaked in 2015 when it collected 73 percent more than the projected budget figure for that year.
The business plan explained that the difference between actual and budgeted revenues was the result from the ministry’s intentional decision to lower revenue estimates to mitigate risks associated with higher estimations.
“The MFMR has, in the last two years to 2016 collected $593 million for the Solomon Islands government. The MFMR will continue to provide effective services to improve and increase its revenue collection for the government”, said MFMR.
Moreover, a recurrent issue for MFMR is not being able to access appropriate financial resources on a timely basis for it’s recurrent and development expenditures which has constrained effective delivery of services, fisheries programs and projects.
However the ministry has expressed that it wants to alleviate this issue so it can improve on the current revenue collections for the government as well as to implement fishery programs and projects to increase revenue collection and promote social and economic benefits in all provinces throughout the country.