Premier Smith clueless how $3.6B damage estimate arrived at
During the House of Assembly (HoA) on November 13, 2017 at the Arbitration Centre, Ritter House, on Wickham's Cay II, Opposition Leader and First District Representative Honourable Andrew A. Fahie asked the Finance Minister to explain how his government arrived at the $3.6 billion estimated damages for the territory and to list the estimated value for the government owned buildings.
The Premier stated that the assessment of the damages incurred has not been completed as yet and the estimated value of damages suffered by government ministries was estimated at $104 million.
"This value is categorized by ministries. The Central Administration Complex estimated $22 million., the Ministry of Finance estimated $875,000, Government offices estimated $4 million, Ministry of Health and Social Development estimated $27,500, Ministry of Natural Resource and Labour estimated $625,000, Ministry of Education and Culture estimated $72 million, Ministry of Communication and Works estimated $3 million," said the Premier.
He added that the assessment on government vehicles and properties have recently commenced.
"How did you get to the number of $3 billion?" - Hon Fahie
Meanwhile, Hon Fahie pointed out that if assessments are not completed as yet, how did the government reach to the figure of $3.6 billion and questioned if discussions were made with the members of HoA.
The Opposition Leader said, "Given that the assessments are not completed and given that in the news we are told about the amount of monies to recover the territory are showing some $3 billion before approaching the World Bank and the International Monetary Fund (IMF). Were these discussions of these figures in details had with the members of the House of Assembly (HoA)?”
In response, the Premier emphasised that they did not approach IMF but they approached the Caribbean Development Bank (CDB) with an estimated value based on reports from the National Emergency Operations Centre (NEOC).
Not satisfied with the answer, the Opposition Leader questioned again, “How did you get to the number of $3 billion, so you could have had a discussion with Caribbean Development Bank (CDB). What made up that list? Was it discussed before?”
He continued, “If it is an approximate figure that you carry to CDB, why is it $3 billion? Why wasn’t it 5 billion? What was used to get that figure?”
The Finance Minister, not clearly giving a response, told Hon Fahie that he will provide a copy of the report from the NEOC.
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