Govt shaves P2.3bn from BPC subsidy fund
Friday, July 26, 2019
The Tshele Hill project will enhance strategic fuel security
The funds from the BPC have, instead, been diverted to the Tshele Hills project, which seeks to boost national strategic oil capacity.
While the Kgatleng district project was initially financed through the National Petroleum Fund (NPF), the latter’s depletion, partly by a money laundering scandal, has sent authorities scrambling for funds to finalise the project.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...