vanuatu Daily Post
|Saturday April 14,2011
Pacic region is expected to slowto 6.0% in 2012, deceleratingurther to 4.1% in 2013, whileinfation is expected to hold atmoderate levels in much o thePaciic, according to the AsianDevelopment Outlook 2012,released today by the AsianDevelopment Bank (ADB).Economic uncertainty inthe eurozone will likely haveonly modest and indirecteects on Paciic economies,through declining revenuerom resource exports, soten-ing o tourism growth, andcontinuing weak remittances.Domestic actors, including the winding down o growth stim-ulating inrastructure projectsand declining credit growth inmost countries, are also behindthe growth slowdown in theregion.“Delivering inclusive growthin an uncertain global environ-ment requires Pacic govern-ments ocus on maintainingbasic public services by invest-ing in vital inrastructure, edu-cation and health services, as well as measures to improvegovernment scal managementand public sector eiciency,”said Xianbin Yao, Director-Gen-eral o ADB’s Paciic Depart-ment. Accelerating reorms to thepublic sector and state-ownedenterprises are essential to takethe pressure o expendituredemands on Paciic govern-ments, the report notes. Soundscal management will becomemore important as the region’sgrowth moderates, in order tocreate room to respond to utureeconomic shocks.This capacity has been erodedin many Pacic islands; debt lev-els are already above target ceil-ings in Fiji, Nauru, Samoa, andTonga. Kiribati has been drawingdown its trust und at an unsus-tainable rate and Tuvalu cannotrely on its trust und earnings inthe oreseeable uture.The regional slowdown ingrowth is being driven by atapering o in the high growthrates in the large resourceexporting economies o PapuaNew Guinea (PNG) and Solo-mon Islands. Growth in PNG isexpected to slow rom 8.9% in2011 and 7.5% in 2012, whileSolomon Islands’ growth is pro- jected to decelerate rom 9.3%to 6.0%. This is due to decliningresource export revenues and,in the case o PNG, the wind-ing down o construction activ-ity on a key liqueed natural gasproject.Resource-rich Timor-Leste,however, is expected to sustaingrowth o 10.0% through 2012,supported by an increase in gov-ernment expenditure, althoughgrowth is projected to soten to8.0% in 2013. Tourism-relianteconomies such as Cook Islands,Samoa and Tonga are also ore-cast to experience acceleratedgrowth through 2012, beoreseeing this slow in 2013. Ater experiencing its ninthconsecutive year o expan-sion in 2011, Vanuatu is goingagainst the moderating trend, with ADB orecasting accelera-tion o growth to 4.5% in 2012and 5.0% in 2013. Governmenteorts to put in place a soundenvironment or the privatesector are showing clear divi-dends. Vanuatu is on track toachieve a decade o uninterrupt-ed growth. ADB, based in Manila, is dedi-cated to reducing poverty in Asiaand the Pacic through inclusiveeconomic growth, environmen-tally sustainable growth andregional integration. Establishedin 1966, it is owned by 67 mem-bers – 48 rom the region.
Pacifc growth to moderate: ADB report
What category of workers can jointhe VNPF?
All employees in Vanuatubetween the ages o 14 and 55must join the Fund. Howev-er, those whose monthly earn-ings are less than VT 3,000 as well as those who are speci-cally exempt need not contrib-ute to the Fund.
Do I have to join the VNPF?
Yes. Membership is compul-sory or those employees whoare between the ages o 14and 55. I your monthly earn-ings is VT 3,000 or more and i you are not exempt rom con-tributing, then you must jointhe Fund.
I am self-employed. Can I join theFund?
Yes you can as a Voluntary Contributor.
Who says I have to join the VNPF?
It is written in an Act o Par-liament - the VNPF Act, which was passed in 1986, to ensurea orm o uture security or allemployees within Vanuatu.
Where does my employer t in?
It is the responsibility o your employer to ensure thatevery employee in his/heremploy who is required toregister with the Fund is givenassistance in registering withthe Fund. Once the employ-ee is registered and given aregistration number VNPF,the employer must remit themonthly contributions to the
By Marc Neil-Jones
Carcasses has denied makingany approach to Vanua’akuPati Treasurer Bakoa Kaltong-ga oering him the positiono Minister o Health andaccused Daily Post journalistRicky Binihi o writing andnot checking acts. An angry Carcasses toldDaily Post that he had notbeen contacted at any timeover the news item alleginga move to try and split VPby oering Kaltonga a port-olio.He advised, “I was sur-prised when I heard it andcontacted Kaltonga and askedhim i he had been sworn inas Minister and he told me he was not interested in joininggovernment.“He also stated he had notbeen contacted by the jour-nalist.”Daily Post was also privy toa phone call by the FinanceMinister to MP Kaltonga whoadvised that the news item was not true and he had notbeen contacted over the arti-cle.“Minister Moana neverapproached me to try andlure me to join the Govern-ment,” said the VP Treasurer.“He called and asked whether I was swearing inthe vacated Health Ministry,I said no and that I had nointerest to join the govern-ment.”Daily Post apologises to theminister.In development newsthe Minister revealed major works on the sewerage sys-tem in the capital is all setto kick o this year as wellas other inrastructure suchincluding six wharves in Van-uatu-ve existing ones and anew whar at Loltong, Pente-cost.
Carcasses and Kaltongganot happy over news item
Fund quoting the registrationnumber.
Who looks after my money in theVNPF?
The VNPF Board o Trus-tees administers the und inaccordance with the legisla-tion. The Board is made upo six members who are rep-resentatives o Chamber o Commerce, employees (PublicService) and (National Work-ers Union) as well as the Gov-ernment representative. TheGeneral Manager is the ex o-cio to the Board.
How do I know my money is safe?
The Board o Trusteesensures all o Fund’s invest-ments are secure ones. Also,all o the aairs o the Boardand the Fund are subject toaudit by the Fund’s Auditor.The Board o Trustees is alsorequired to provide the audit-ed report to parliament. Fur-ther to this, the aairs o theFund are being supervised by the Reserve Bank o Vanuatuunder the Financial Institu-tions Act o Vanuatu.
So how do I join?
First, you will have to com-plete a Member RegistrationForm and orward the com-pleted Form with a certiedcopy o your birth certii-cate to any VNPF oce closeto you. Once the completedForm is checked and oundcorrect, you will be registeredand a registration numberassigned to you. You willhave to provide your registra-tion number to your employ-er to enable the employerto quote this registrationnumber when remitting yourmonthly contribution towards your savings.
If you are unsure about any-thing contact any VNPF ofce closeto you.
Send your news firstname.lastname@example.org
By Jonas Cullwick
provincial councils in the coun-try have been ound to haveserious breaches in almost allthe nancial and administra-tive areas they were auditedor ater the councils’ suspen-sion.This is contained in thereports o the auditor whoinvestigated the accounts andadministrations o the prov-inces. Yesterday aternoon, theauditor, Pierro Willie, thesenior inance oicer o theDepartment o Local Authori-ties, handed in his reports tothe Minister o Internal Aairs,Georges Wells who acceptedthe indings and the recom-mendations contained in thereports.On March 9, Mr Wells sus-pended the councils o Sanma,Penama, Malampa and TorbaProvinces or allegations o inancial mismanagementand misuse o the councils’powers. And on March 27, heappointed the investigator toinspect the books and admin-istration o the provinces o Sanma, Penama and Malam-pa and to report to the Minis-ter by April 7. And yesterday, the reportso the audits were present-ed to the Minister. Torba wasnot investigated because theprovince was suspended dueto it ailure to respond to theMinister’s directives to sub-mit reports to his oce on itsinancial and administrativeperormances.In all the three provinc-es audited, it was ound thatalthough all the provincialcouncils had budgeted orannual payments o dividendsas shareholders rom theNorthern Islands StevedoringCompany since 2000, nil pay-ments were received duringthat period.Only donations which didnot match the budgeted ig-ures were recorded.For instance, over that peri-od Malampa had budgetedor a dividend o Vt10.5 mil-lion, but it received none, andonly got Vt7-5million in dona-tions rom Niscol. The othertwo provinces recorded simi-lar gures. All three provinces wereound to have outstandingamounts in cash advances by both administration sta andcouncilors. The reports alsoshowed that all the three prov-inces continued to operatemore than three bank accountsallowed under provincial nan-cial regulations. Penama Prov-ince or instance still has sixbank accounts.It was also ound that inmost cases, checks were beingsigned by two councilorsinstead o being signed by theChie Executive Ocer o theProvinces, the Secretary Gen-erals. Again in all three prov-inces, their Trust Funds, whichunder law, get 5% o the annu-al grants rom Government orthe provinces to have access tothe interests or use where it isrequired, were badly depleted.O the three Malampa has Vt23million in its Trust Fund, Pena-ma Vt8-million and Sanma Vt11-million. Ater having received thereport, the Minister agreed tothe recommendation or theprovincial councils to remainsuspended or up to eightmonths until improvementscan be achieved or the Decen-tralization Act is amended toallow or better managemento the provinces’ resources andoperations. At the same time, yesterday,the Minister o Internal Aairsreceived a report rom theinvestigation into the accountsand operations o Shea Prov-ince carried out last year.“I am deeply concernedabout the nancial position andthe running o Shea Provincialcouncil because it is worse thatthe our provinces suspendedeven though it has the highestbudget o Vt90 million and rais-es the most revenue,” Mr. Wellssaid ater hearing the report.“For instance the use o thecouncil’s assets by the coun-cilors is against the require-ments under CAP 230, theDecentralization Act. The prov-ince’s Trust Fund o around Vt26 million has been deplet-ed with the purchase o threenew vehicles and the balance isnow the lowest rom the otherprovinces at only over Vt1 mil-lion. Ater receiving the report,Minister Wells, decided to issuea directive to the Shea Provin-cial Council to work to recti-y its current situation in two weeks or ace suspension likethe other provinces.
Minister Wells receivesinvestigation report intosuspended provincial councils
Minister Wells receives the audit reports from Director of DLA, Cherol Ala (l – r) Ministry First PA Daniel Bule, Wells, Ala and Willie