Payment to lower debt

THE Solomon Islands government has handed over a cheque for more than $US27,000 to reduce its outstanding debt to the Solomon Islands Broadcasting Corporation.

The payment included a $US24,000 government grant for the third and fourth quarter of 2016.

Special Secretary to the Prime Minister John Muria Jr presented the cheque to SIBC management.

Mr Muria said another payment of $US19,000 was among his priorities to further reduce the Government’s debt to SIBC.

SIBC Finance Manager Jacob Panada said after yesterday’s partial payment, Government arrears to SIBC were reduced to about $US87,000.

Earlier in the year when SIBC feared the Government’s cash-flow situation might deteriorate to the point that it could not pay its bills, a contingency plan was developed.

In December, the broadcaster switched off its medium wave transmitter that serves mainly the central Solomons.

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