Central plans to broaden internal revenue base to counter loss

THE Central government intends to diversity and broaden its internal revenue base so that “money is spent to make money”.
Governor Robert Agarobe said during the tabling of the K206,032,442 provincial budget for 2018 that internal revenue was estimated at K20,263,000 for 2018 — a decrease of 80 per cent from 2017.
“This decrease is a result of the exclusion of the one-off oil and gas royalties from the Government,” he said.
Agarobe said there were some internal revenue kept in trust accounts which his government aimed to use.
“That is our intention to release or free up all types of grants and levies kept in trust to the internal revenue portfolio to be used to generate more revenue rather than be kept in trust accounts and lose value.”
Agarobe said trust instruments gave clear instructions on how these instruments were supposed to be spent.
“These programmes and projects relating to trust accounts should be incorporated to rolling five-year development plans and implemented so that tangible developments can be made by the use of these funds.”