Gov't to reallocate surpluses of cash-rich public entities
The government is to undertake a forensic study of surpluses amounting to over $200 billion belonging to public entities with a view to using the monies to fund specific projects.
This was disclosed by Finance Minister Audley Shaw at a post-Budget press conference held at the Ministry of Finance yesterday.
Shaw says the government, with the guidance of the International Monetary Fund, will determine where the surplus funds would be spent to maximise the benefits to the country.
Shaw says three public entities with vast surpluses have been identified and a decision will be taken to reallocate these monies to the coffers of central government.