Budget: AirNam fuelled with more funds

AIR NAMIBIA will again receive millions as a cash injection in the new financial year after having been generously helped with a whopping N$538,6 million last year.

Last year’s Budget document showed a N$136,6 million allocation for the financial year ending March 2008. Yesterday’s new document for the 2008-09 financial year showed the true figures for the last financial year ending this month: N$538,6 million to the embattled airline.Air Namibia has received about N$2,4 billion of taxpayers’ money since 2000.Tabling the new National Budget in the National Assembly yesterday, Finance Minister Saara Kuugongelwa-Amadhila said: “The aviation industry is essential for tourism.In line with that commitment to investing in growth in that industry, Government is providing further funds to the new business plan of Air Namibia.”For 2008-09 the national carrier will receive N$150 million.Other loss-making parastatals are also rewarded.MEDIA MONEY The Namibian Press Agency (Nampa), which received N$9,7 million last year, will now get N$11,5 million.The budgetary support for the State-owned newspaper New Era remains at N$4,5 million.The joint venture weekly paper Southern Times, with the Zimbabwean and Namibian governments as equal partners, will receive N$2 million, down form N$3,3 last year.The Namibian Broadcasting Corporation’s budget allocation was nearly doubled for this year – N$116,1 million, up from N$62,6 million for 2007-08.According to the Finance Minister, State-owned enterprises (SOEs) will be asked to publish information on their expenditure for more accountability.”This will provide a more complete overview of the scale and scope of public investment,” she told Members of Parliament yesterday.”In the wake of programme budgeting and its accompanied obligation on accountability and transparency, these entities are to be held responsible for non-performance.””We want to encourage SOEs to obtain an international credit rating.NamPower was the first to receive a rating,” the Minister noted.NamPower, which has N$1 billion in cash reserves, will nevertheless receive an additional N$610 million over the next three years to support infrastructural development for power generation and for back-up energy supply.The additional funds are aimed at tackling the energy crisis both in the short and long term.Yesterday’s new document for the 2008-09 financial year showed the true figures for the last financial year ending this month: N$538,6 million to the embattled airline.Air Namibia has received about N$2,4 billion of taxpayers’ money since 2000.Tabling the new National Budget in the National Assembly yesterday, Finance Minister Saara Kuugongelwa-Amadhila said: “The aviation industry is essential for tourism.In line with that commitment to investing in growth in that industry, Government is providing further funds to the new business plan of Air Namibia.”For 2008-09 the national carrier will receive N$150 million.Other loss-making parastatals are also rewarded. MEDIA MONEY The Namibian Press Agency (Nampa), which received N$9,7 million last year, will now get N$11,5 million.The budgetary support for the State-owned newspaper New Era remains at N$4,5 million.The joint venture weekly paper Southern Times, with the Zimbabwean and Namibian governments as equal partners, will receive N$2 million, down form N$3,3 last year.The Namibian Broadcasting Corporation’s budget allocation was nearly doubled for this year – N$116,1 million, up from N$62,6 million for 2007-08.According to the Finance Minister, State-owned enterprises (SOEs) will be asked to publish information on their expenditure for more accountability.”This will provide a more complete overview of the scale and scope of public investment,” she told Members of Parliament yesterday.”In the wake of programme budgeting and its accompanied obligation on accountability and transparency, these entities are to be held responsible for non-performance.””We want to encourage SOEs to obtain an international credit rating.NamPower was the first to receive a rating,” the Minister noted.NamPower, which has N$1 billion in cash reserves, will nevertheless receive an additional N$610 million over the next three years to support infrastructural development for power generation and for back-up energy supply.The additional funds are aimed at tackling the energy crisis both in the short and long term.