PARLIAMENT -forms committee to peruse financial documents
By Gilo Jr .Okwata
The Assembly Business Committee in the Transitional National Legislative Assembly (ABC) has formed a committee to handle reports from revenue generating and financial institutions in the country.
In a meeting held yesterday by the Assembly Committee, chaired by speaker Ubuch Ujwok Akuo, the ABC resolved and formed a committee which comprises four of the Standing Specialized Committees to deliberate on the documents summited to ABC by the National Revenue Authority (NRA) on tax exemptions, Ministry of Finance and Economic Planning on monetary policies, Ministry of Trade and Commerce on what caused high prices of commodities and how to stabilize the economy and also Central bank of South Sudan on the rapid depreciation of the South Sudanese Pound.
Speaking after the session, the chairperson of the information committee in the TNLA, Paul Yoane Bonju said that after the sitting, ABC formed a committee to look into the documents presented before the ABC and came out with some recommendations and action points.
“So in conclusion of ABC meeting, a committee was formed which composed of four Standing Specialized Committees made up of the Committee on Economic and Finance, the Committee on Public Accounts, the Committee on Legislations and Justice and lastly the Committee on Labor and Public Service,” he said.
He stated that the committee was mandated within seven days to complete its tasks in a given time and report back to the Assembly Business Committee on what measures the committee would be taking concerning the deteriorating state of the country’s economy.
He also added that time was up for those institutions that had not been paying taxes.
“People have talked too much but I think this time the game has changed and once this committee is out with the resolutions it is actually going to give the headway on what the ABC is going to do in regards to those institutions that are not remitting their collections to the treasury,” Yoane stated.
For the last two months, the value of South Sudanese pound has been drastically depreciating against foreign currencies and skyrocketing prices of commodities in the markets.
Two weeks ago, President Kiir dismissed the long time Finance Minister Salvatore Garang, Acting Commissioner General of NRA, Erjok Bullen Geu and MD of Nile Petroleum Company (NilePet) Dr. Chol Deng Thon Abel amid looming economic crisis in the country.