BPC costs drive P2bn supplementary budget
Friday, December 13, 2013
Supplementary Finance Paper No. 1 of 2013/14 was due to be discussed and passed before Parliament's closure today (Friday). By Wednesday, Parliament's Finance and Estimates Committee was still conducting meetings with the ministries seeking additional recurrent and development funds under the proposed supplementary.
Information passed to BusinessWeek on Wednesday indicates that of the total P1.98 billion in recurrent and development supplementary funding, the Finance Ministry was proposing, the Botswana Power Corporation's parent ministry alone was seeking P1.1 billion. In October, Finance Ministry officials revealed that delays in full generation from Morupule B Power Station had resulted in additional costs of P1.2 billion in emergency power purchases during the year.
While his leadership has brought about significant progress and development, it is imperative that he exercises greater caution in his choice of words, particularly when addressing sensitive matters.One of the primary concerns is the potential impact of his remarks on Botswana’s relationship with De Beers, the diamond mining giant that plays a crucial role in the nation’s economy.The partnership between Botswana and De Beers has been mutually...