Published On: Mon, Sep 10th, 2012

Loan RdK as basis for free education – not a good initiative

WILLEMSTAD - The plan to finance free education using funds from Public Company Refineria di Kòrsou (Oil Refinery) (RdK), is increasingly taking shape. Minister of Kingdom Relations Liesbeth Spies proposes, however, that a loan from a Public Company has no sound basis for the financing of the free education.

"The Committee for Financial Supervision (CFT) finds in its last semester report that both Curaçao and Sint Maarten, tend to increase funds outside the budget to finance government projects", Spies answered parliamentary questions from MP André Bosman (VVD).

Eroding
Although the refinery does not belong to the Public Companies which are in the danger zone, there is the risk that a loan could erode the healthy company. "In this way, the capital for the exercise of certain tasks are threatened and / or (eventually) decrease rapidly."

No Information
Bosman wants to know from Spies if it is true that Curaçao has 17,258,610 guilders available through an advance on future dividends by a Public Company. Spies, however, indicates that the Cft has asked the government three times to provide them information, but this has not happened.

Contrary
Spies states that the media indeed shows that free education is financed by an advance. "This means that in this case one can speak of a loan by the Public Company to the Government. Curaçao would in that case not only acted in contravention of the Act and the designation, but also in breach of its own constitution and the accounting principles prevailing ordinance. "

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