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Edmond Campbell, Senior Staff Reporter
SUPPLIERS OF goods and services to the Government are owed a little more than $80 billion as at March 31, 2010.
This was revealed in a document tabled by Andrew Holness, leader of government business in the House, in response to questions by Central Kingston Member of Parliament Ronald Thwaites on the sums owed to creditors by the Government.
Holness had submitted the answers on behalf of Finance and Public Service Minister Audley Shaw, who was not in attendance at Tuesday's sitting of Parliament.
Giving a breakdown of the accruals, the document stated that as at March 31, select public bodies owed $72.1 billion, while $7.8 billion was due to creditors by other state organisations.
According to the Ministry of Finance, government ministries, agencies and departments had accounts payable balances of $5.2 billion.
Commenting on the impact of $80 billion in arrears on the country's fiscal deficit, the ministry said that expenditure incurred by central government would not worsen the fiscal deficit targeted for the financial year. However, it said arrears would contribute to the fiscal deficit whenever they were paid off in subsequent years.
"The public bodies finance their outstanding balances from internally generated resources and, therefore, any arrears would have been factored into the fiscal deficit estimated for a given fiscal year," the ministry pointed out.
edmond.campbell@gleanerjm.com
Selected public bodies
Entities Payables (J$M)
National Housing Trust 1,187.22
Petrojam Ltd 27,243.47
JUTC 3,358.05
National Insurance Fund 533.98
Airports Authority of Jamaica 1,419.37
DBJ 3,562.00P
ort Authority of Jamaica 5,046.87
UDC 2,767.34
http://jamaica-gleaner.com/gleaner/2...ews/news4.html
SUPPLIERS OF goods and services to the Government are owed a little more than $80 billion as at March 31, 2010.
This was revealed in a document tabled by Andrew Holness, leader of government business in the House, in response to questions by Central Kingston Member of Parliament Ronald Thwaites on the sums owed to creditors by the Government.
Holness had submitted the answers on behalf of Finance and Public Service Minister Audley Shaw, who was not in attendance at Tuesday's sitting of Parliament.
Giving a breakdown of the accruals, the document stated that as at March 31, select public bodies owed $72.1 billion, while $7.8 billion was due to creditors by other state organisations.
According to the Ministry of Finance, government ministries, agencies and departments had accounts payable balances of $5.2 billion.
Commenting on the impact of $80 billion in arrears on the country's fiscal deficit, the ministry said that expenditure incurred by central government would not worsen the fiscal deficit targeted for the financial year. However, it said arrears would contribute to the fiscal deficit whenever they were paid off in subsequent years.
"The public bodies finance their outstanding balances from internally generated resources and, therefore, any arrears would have been factored into the fiscal deficit estimated for a given fiscal year," the ministry pointed out.
edmond.campbell@gleanerjm.com
Selected public bodies
Entities Payables (J$M)
National Housing Trust 1,187.22
Petrojam Ltd 27,243.47
JUTC 3,358.05
National Insurance Fund 533.98
Airports Authority of Jamaica 1,419.37
DBJ 3,562.00P
ort Authority of Jamaica 5,046.87
UDC 2,767.34
http://jamaica-gleaner.com/gleaner/2...ews/news4.html