Columns

LETS LECTURE: 2015-2016 National Budget: The Revenue Side

Last week, we dealt with the format of the budget and suggested ways in which the budget could be presented by our financial managers to our lawmakers and to the public to inform them of how the budget is being executed and how, during the course of the year, actual revenues and expenditures compare with the budget and the same period in the previous year. Today, we will deal in some detail with the revenue side of the FY 2016 budget (July 1, 2015 - June 30, 2016).

LET'S LECTURE: The National Budget

This is the first of a series of articles on the national budget that was passed last Thursday by our national Legislature. The FY 2016 budget runs from July 1, 2015 to June 30, 2016. It incorporates all the money the Legislature and our fiscal managers (Ministry of Finance and Liberia Revenue Authority) believe will be collected in taxes, monies that will be received from non-tax sources, and loans that will be received from domestic lenders, international financial institutions such as the IMF and World Bank, and budget support from donors in the form of grants (free money).

LAND COMMISSION GEARS UP FOR THE PASSAGE OF THE LAND RIGHTS BILL BY THE NATIONAL LEGISLATURE

On Tuesday and Wednesday, June 30 and July 1, 2015, respectively, the Land Commission held two important roundtable stakeholders’ meeting on the draft Land Rights Bill, currently before the Legislature, and the draft Liberia Land Authority Act, the proposed institutional structure to implement programs and activities related to land governance, including land administration and land management in Liberia.


Harry Greaves

LET'S LECTURE: What Can We Learn from NOCAL's Predicament?

How did NOCAL ever get into the pickle it is in? I keep asking myself. Part of the answer is in the governance arrangements that attend our state-owned enterprises. When Steve Tolbert set up public corporations in the 1970s, it was his intention that they would be a contributor, not a burden, on the public exchequer. The National Port Authority used to contribute millions of dollars to the government back then. But today, most of our public corporations survive thanks only to subsidies from the government.


Harry Greaves

LETS LECTURE: NOCAL's Bankruptcy

The chickens, it would seem, are coming home to roost and with what vengeance! Last week there were legislative hearings on NOCAL, and we learn that the custodians of our national hydrocarbon treasure have revealed that the company is running out of money, going bankrupt. How, you may well ask, is that possible, when we have it on good authority that before her untimely death a year ago, Marie Esther Dupigny-Leigh Parker, senior vice president of finance and of revered memory, had stashed away $50 million in NOCAL's bank account?

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