Abel: Loan to repay NSL debt

By LEMACH LAVARI
DEPUTY Prime Minister and Treasurer Charles Abel says the Government will settle its debt with Nambawan Super Limited through a loan.
The government owes the fund more than K2 billion in unfunded contributions, according chairman Anthony Smare.
Smare said K230 million of that amount was needed to pay members who had left from 2016.
Abel told The National the government would look at providing a bond to satisfy the K230 million exit payments.
“My main concern is those public servants that are waiting for the government’s contribution,” Abel said.
He said he did not know why the previous government had failed to pay the money.
Treasury is trying to ensure payments are done as soon as possible.
“The remaining debt can be settled through transferring shares in State Owned Enterprises to the fund,” Abel said.
He said he had already discussed with the fund’s board to buy shares in SOEs and it was up to the fund to make an offer to the government based on their assessments.
“Nambawan Super can bring in added value to State-owned enterprises in terms of their business management,” Abel said.
Smare said it would make its plans known to the government if the board agreed that such an investment satisfied their investment portfolio.