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Mauritius’ COVID Fund: Rs 1.023 Billion Down the Drain



Mauritius' COVID Fund: Rs 1.023 Billion Down the Drain

With the aim to combat the economic and health impacts of the COVID-19 pandemic, the Mauritian government created the COVID Solidarity Fund to support the fight against the virus and mitigate the economic consequences for affected individuals and businesses.

However, a recent financial report submitted to the National Assembly revealed that the fund has incurred significant losses of Rs 1.023 billion.

The financial report, which did not delve into the specific reasons behind this deficit, did show that the government had allocated Rs 156 million to the fund.

Of this amount, Rs 89 million was allocated as a subsidy for essential products, which was transferred from the Centrally Managed Initiative to the Mauritius Revenue Authority (MRA) and managed by the government.

The remaining Rs 67 million was used for subsidies on regulated bread.

Additionally, Rs 89 million was transferred to the MRA for payment of subsidies on essential products.

The report also states that the COVID Solidarity Fund allocated Rs 167 million under the Prime Employment Program.

This significant deficit raised concerns about the effectiveness of the fund in achieving its objectives.

The COVID Solidarity Fund was created to support the government’s efforts to combat the pandemic and its economic fallout, but it appeared that the fund itself has struggled financially.

The financial report does not provide a clear explanation for the large losses incurred by the fund.

It is unclear whether the fund’s management or allocation of resources were inadequate, or if other factors contributed to the deficit.

The government’s decision to allocate Rs 156 million to the fund is also questionable, given the significant losses incurred.

The use of public funds for subsidies on essential products and regulated bread may have been well-intentioned, but it is unclear whether these subsidies were effective in achieving their intended purpose.

The Prime Employment Program, which received Rs 167 million from the fund, is also worth further investigation.

The program aimed to provide employment opportunities to individuals affected by the pandemic, but its effectiveness in achieving this goal is unclear.

The revelations about the COVID Solidarity Fund’s financial performance have raised questions about accountability and transparency in government spending.

The need for a thorough investigation into the fund’s management and allocation of resources is clear, in order to ensure that public funds are being used effectively and efficiently.

As the country continues to navigate the challenges posed by the pandemic, it is crucial that public funds are managed prudently and transparently.

Source: Defi Media

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