Parley probes cost overruns, delays in public projects
Friday, September 15, 2017
In the last decades, large infrastructure projects have continued to bleed the country financially while denying the targeted citizens the desired benefits.
Amongst the outstanding projects that were unsuccessful in recent times are the FengYue Glass Manufacturing Company, which swallowed P500 million, as well as Morupule B power plant, which cost more than P11 billion but still required major refurbishments.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...