Lovell Recaps Ministry's Successes

Details

Economy

Friday, 16 March 2012 02:30

By caribarena news

Antigua St John's - Harold Lovell, Minister of Finance and Public Administration Harold Lovell used the UPP's recent eighth anniversary media day to recap his department’s challenges and accomplishments.

As the head of one of the country’s most challenged ministries, Lovell noted that upon taking over the reins from the former administration, the country was not in a position to seek loans or grants to meet myriad debt obligations. The indebtedness of the country extended locally, regionally, and internationally, he pointed out.

Despite appearing to be mired in debt, the minister said, Antigua & Barbuda was able to see 12 percent economic growth in 2006, a mere two years into the UPP’s administration.

Lovell creditted “The War on Waste” waged by the Ministry of Finance as one of its primary successes.

By reducing fuel allocation within select government ministries and businesses from 10 gallons to five, the ministry “trimmed 5 million dollars in fuel cost overall on an annual basis.”

Meanwhile, the Vehicle Policy, an initiative implemented by the Ministries of Public Works, Finance and the Antigua & Barbuda Transport Board has also been successful.


An arrangement was made where civil servants could buy the vehicles assigned to them over a period of time, and they would assume the responsibility for insuring, licensing, and fueling.

A whopping wage bill proved to be challenging for the Ministry of Finance. In 2008, the government had been spending in the region of $303 M annually in wages and salaries.

“Last year we spent 262 million dollars…it represents a decline of 41-42 million dollars, or a 14 percent decline," Lovell said. "We also cut back $68 M on government’s expenditure and capital expenditure.”

In detailing the initiatives, Lovell specifically noted that these cut-backs were done without any retrenchment of civil servants.

• < Prev
• Next >