E41 MILLION FOR THIS?

MBABANE – Is it so?

A large amount of money is said to have been spent on the Strategic Oil Reserve facility before it was stopped last year. In the annual budget performance report for 2018/2019 prepared by the Ministry of Economic Planning and Development, a sum of E41 million was released for the project, which is being undertaken at Phuzumoya in the Lubombo region.
Revised from a budget of E24.9 million to E41.2 million, the latter figure is reportedly the actual expenditure as reflected in the budget performance report tabled in the House of Assembly.

It is not stated how and where the money was utilised. This is due to the fact that the project site is full of thick vegetation. However, a road measuring about 2km was tarred, and impeccable sources close to the project said E5 million - E8 million might have been used to tar the road. It was not highlighted in the report if the money was used to pay for consultancy fees or other related expenses. The source close to the project expressed shock at the revelation that a sum of E41 million was released for the project. “Where was this money used?” he enquired.

He urged MPs to call upon Peter Bhembe, the Minister of Natural Resources and Energy, to give clarity on the budget. In fact, the source was worried that the legally contracted company to  build the 80-million litre fuel storage was granted a government loan guarantee to raise E900 million for the construction and commissioning of the facility, and was yet to raise and announce the acquisition of the loan for the project, but already, E41 million has been used. “If the company contracted to build the facility has not yet announced the acquisition of the loan of E900 million, you then wonder where the money was sourced, who sourced it and for what?” the source asked.

Post your comment

Your name:

Your e-mail address:

Add your comments:

Please enter the code you see in the image:

Image:

Code: