26.3 million dollars of shipping grants missing
A Transparency Solomon Islands report has revealed that up to 26.3 million Solomon Dollars for shipping grant was unaccounted for.
This was announced through a press release posted on their face book page over the weekend.
It said within the three year period from 2013 to 2015, a total of 70.3 million dollars was allocated for the program for vessel purchases, vessel maintenance and local boat building.
But according to TSI’s finding, a total of 26.3 million dollars was unaccounted for, meaning vessels were not purchased, registered and missing documentation.
Considering the amount of funds provided under the program, TSI is of the view that it is in the public interest to determine what was actually achieved, and if the program has been worth the money.
The report further stated within the allocation for the program, only 19.1 million Solomon Dollars was recorded as used according to its intended purpose.
TSI added, within the period of 2013 to 2014 there were no written policies or guidelines in place to govern the expenditure of 27.6 million dollars on the shipping grants.
It said it was only in 2015, that policies and guidelines were put in place to govern the expenditure of 28.2 million Solomon dollars on shipping grants.