Image Image Image Image Image Image Image Image Image Image Image Image

AfricaMoney | August 22, 2017

Scroll to top

Top

No Comments

Govt holds petrol prices steady to boost Build Mauritius & Rodrigues Subsidy Fund

Govt holds petrol prices steady to boost Build Mauritius & Rodrigues Subsidy Fund

Mauritius Finance Minister Seetanah Lutchmeenaraidoo declared that petrol prices were being maintained at current levels as a strategic measure to raise money to finance priority projects in the water sector and other key development projects. (Image: Facebook)

Mauritius Finance Minister Seetanah Lutchmeenaraidoo has announced on Saturday January 17, 2015 at a press conference that the Government will use the money raised from unchanged petroleum prices to finance priority projects and further reinforce the Build Mauritius Fund and the Rodrigues Subsidy Fund.

During the press conference held in Port-Louis, he explained the Government’s strategy to maintain petroleum prices at their current levels, despite a decline in petroleum prices on the international market, as a strategic measure to raise money to finance priority projects in the water sector and other key development projects.

According to the Finance Minister, this decision will help inject some Rs 1.2 billion into the Build Mauritius Fund which will eventually serve to finance the replacement of water pipelines, the Bagatelle Dam project and the construction of other dams.
 
Other topics raised by the Minister pertain to the situation regarding the management of casinos in Mauritius and the question of transparency in allocating major development contracts as well as in the recruitment process in parastatal bodies.
 
With regards to the casinos and the gambling sector, Lutchmeenaraidoo called upon for those who gamble to demonstrate a sense of responsibility while betting.

On this score, he pointed out that measures to restore discipline and order in the gaming industry will be enunciated in the forthcoming budget which will be presented in March.
 
He further cautioned that severe sanctions will be taken against casinos that are not viable within six months and profitable in a period of one year following which they might risk closure if they failed to do so.
 
Finally, concerning the recruitment exercise of Chief Executives in Government institutions as well as in the parastatal bodies the Minister of Finance concluded by highlighting the importance of transparency and also called for same in the allocation of tenders for major development projects.

Submit a Comment

Directory powered by Business Directory Plugin