Prime Minister Sitiveni Rabuka says the sum of $360,000 approved by Cabinet for the National Economic Summit is only an estimate.
Rabuka in a statement this afternoon said the budget for the Summit was approved by Cabinet on the understanding that the Ministry of Finance would seek sponsorship to minimise costs.
He said Deputy Prime Minister and Minister for Finance, Professor Biman Prasad presented the estimated Budget to Cabinet for the event.
“I am sure that the Summit, attended by over 500 participants will cost less than half the estimated figure for a national event of this magnitude.”
“The Deputy PM and Minister for Finance has confirmed that the Summit has attracted significant financial sponsorship of over $150,000.
“I am sure the Deputy PM will provide to the nation the final expenditure or the actual cost of the event, in the near future.”
“The People’s Coalition Government firmly believes in transparency and accountability and that is why Government is upfront in the use of taxpayers’ funds.”
Rabuka added that the announcement of estimated Budgets for the National Economic Summit and the Girmit Day and Ratu Sukuna Day celebrations is in conformity with this principle.
The National Economic Summit will be held this Thursday and Friday at the Grand Pacific Hotel in Suva.