Chambers call for greater transparency

AS government prepares to present its mid-year budget review on Monday, the heads of two business chambers have proposed that government provide the necessary allocations to ensure its bills are paid while simultaneously ensuring transparency and accountability in its developmental projects for the rest of the fiscal year.“A lot of the private sector businesses in TT are experiencing difficulty recovering money owed to them by government, either by way of supply of goods and services or by fulfilment of contracts. Government is taking very long to pay these companies for services already procured,” Couva/Point Lisas Chamber of Commerce president Ramchand Rajbal Maraj said in a telephone interview on Thursday.He said government debt has “serious implications” on the respective companies’ cash flows, overdraft levels and their relationships with suppliers and bankers.“That is a critical problem being faced by the private sector of Couva / Point Lisas especially the small and medium-sized enterprises. So what is being requested in the mid-year review is that government allocate funds to pay some of these companies, so that the circular flow of money can start back moving again and the economy will start to experience some level of buoyancy.”Meanwhile, Penal/ Debe Chamber of Commerce president Rampersad Sieuraj said the review should focus on accountability and transparency in government’s developmental projects.“Budget allocations are being made and we are told of proposals, but there is no follow up. There is no transparency, there is no accountability as regards where the funds are going.”He said while recurrent expenditure and interest payments on loans took significant portions of the national budget each year, the present administration had spent an average of $50 billion per year with little developmental projects to show.“From a national perspective, we would like to see proper accountability for the money allocated and presumably spent on developmental projects.”And on a regional level, he said the chamber would like to see the completion of the Solomon Hochoy Highway extension to Point Fortin, the completion of the Shiva Boys’ College and Parvati Girls’ High School, as well as the completion of the fire station and the UWI, Debe campus.He said the chamber was also supportive of any measures to ensure accountability in public office, saying people found culpable of corrupt activities should face the full brunt of the law.