LTA Surplus to be transferred to GCF

The Interim Cabinet has decided that from now on all surplus revenue, short-term deposits and share investments of the Land Transport Authority will be transferred to Governments Consolidated Fund.

The Ministry of Finance and the Ministry of Transport, Works and Energy will than determine and allocate an appropriate capital and operating budget for LTA.

Cabinet has further agreed to the subsequent transferring of all revenues earned by the LTA to Government from next year and onwards.

Interim Transport Minister, Manu Korovulavula said mismanagement of resources and abuse of statutory powers must not be allowed to continue, particularly under prevailing economic circumstances.

Korovulavua added the most reasonable and practical solution is to direct the Authority to operate under one-line Government budget from next year.

Meanwhile, LTA's Chief Executive Officer, Etuate Koroi said he will not comment on the issue as he needs to get updated on the decisions made by Cabinet.