The Prime Minister Sitiveni Rabuka has clarified that the estimated budget for the National Economic Summit was approved by Cabinet on the understanding that the Ministry would seek sponsorship for the Summit to minimise costs.
PM Rabuka said Deputy Prime Minister and Minister for Finance Hon. Biman Prasad presented the estimated Budget to Cabinet for the event.
The Prime Minister reiterated that the sum of $360,000 is only an estimate.
“I am sure that the Summit, attended by over 500 participants will cost less than half the estimated figure for a national event of this magnitude,” PM Rabuka said.
“The Deputy PM and Minister for Finance has confirmed that the Summit has attracted significant financial sponsorship of over $150,000.
“I am sure the Deputy PM will provide to the nation the final expenditure or the actual cost of the event, in the near future.
“The People’s Coalition Government firmly believes in transparency and accountability and that is why Government is upfront in the use of taxpayers’ funds.
“The announcement of estimated Budgets for the National Economic Summit and the Girmit Day and Ratu Sukuna Day celebrations, is in conformity with this principle”.