Friday, 28 July 2017

WE ARE TECHNICALLY BROKE, WE HAVE INCURRED N42BN DEBT NOW--PLATEAU STATE GOVERNMENT DISCLOSES


By: Valentine Adese,
 
The Plateau State Government has disclosed that it has already collected loans to the tune of N42 Billion from Banks to assist it in meeting up with competing demands amidst the lean resource of the state. 

The state’s Ministry of Finance, led by the Ministry’s Permanent Secretary, Mr. Sani Yahaya in a press briefing yesterday, at the Conference Hall of the Ministry of Finance, at the State’s Secretariat, also told journalists, while fielding answers to questions during the briefing that, the state is also technically broke just like some other states in the federation in the face of the economic recession the country is passing through.
 
PERM. SEC. SANI YAHAYA, FLANKED BY OTHER STAFF OF MIN. OF FINANCE

Mr. Sani, also lamented that the proportion of the Salaries/Pension from the refunded Paris/London Club Funds, would not be able to settle the overdraft liability amounting to N1, 960, 778, 585. 86, not to talk of paying July, 2017, salaries/pension.


Despite the financial challenges, the Permanent Secreary futher disclosed that the state government is working hard to pay worker arrears of their salaries, especially the No-Work-No-Pay.
PLATEAU STATE
Mr. Sani’s Text in Part reads:

“Giving the background and the situation in which we presently found ourselves, the 50% (N1. 694, 916, 940. 34) proportion of the 2nd tranche due for payment of salaries/pension, cannot even offset the current outstanding Overdraft balance of N1, 960, 778, 585. 86, talk more of paying the July salaries/pension in the average of N2.25 Billion.

“Government is conscious of the No-Work-No-Pay and the subsisting agreement on same. To this end, a committee has been constituted to ascertain the true beneficiaries and work out modalities for payment within the shortest possible time.

“In the same vein, this administration is mindful and committed to enhancing the quality of life of the people of the state”.

You would recall that the state government had disclosed that it received the sum of N5, 644, 079, 055. 41, as refunds from the Paris/London club refunds on 17th July, 2017 in the briefing.



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