There will be a redeployment of funds from the 2022-2023 budget that will immediately allow the government to release an initial budget of $10 million to the University of the South Pacific.
Prime Minister, Sitiveni Rabuka says the government is in discussions with USP hoping to agree to a repayment plan to be funded in the future budgets in addition to USP’s regular annual grant which will be restored in the 2023-2024 budget.
Rabuka confirms there will be no mini budget this year as funds will be redeployed to accommodate certain immediate priorities of the government.
He says the redeployment will also cater for additional funding requests received from ministries and other agencies.
Rabuka says this decision was made based on a submission by Deputy Prime Minister and Minister for Finance Professor Biman Prasad.
He further says in any financial year, if any ministry is unable to meet unbudgeted or unforeseen commitments from within their respective budget, there is a provision under the Financial Management Act of 2004 that enables the redeployment of available balances of other ministries to fund these unbudgeted or unforeseen commitments commonly known as additional provisions from within the budget but different heads.
Rabuka says the redeployment will also cater for the back to school $200 government support payment for students from early childhood to year 13 whose parents’ total gross income is below $50,000 per year.
He further adds other agencies that will benefit from the redeployment are the Fiji Servicemen After Care Fund, the Electoral Commission, the Republic of Fiji Military Forces, the Ministry of Public Works and Meteorological Services and the Fiji Roads Authority. It will also go towards the bus fare subsidy programme.
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