THE HEAVY HANDS of the Ministry of Finance are coming down on state-owned enterprises that have run up hundreds of millions of dollars in arrears to the National Insurance Scheme (NIS).
The contribution of their arrears and central Government to the social security scheme now stands at a whopping $250 million.
However, Minister of Finance Chris Sinckler, said, it would no longer be business as usual. He added the Ministry of Finance was prepared to “micromanage” some statutory corporations in particular to ensure they paid their NIS and PAYE contributions on time and in full.
This was revealed yesterday as he led debate on the National Insurance And Social Security (Amendment) Bill 2017 in the House of Assembly.
Describing the problem of arrears to the NIS as a “serious issue”, Sinckler said it was an “unpleasant” situation for him as Minister of Finance.(GE)
For more details on this story please read today’s Midweek Nation, or the eNATION edition.
