The Public Accounts Committee (PAC), chaired by Opposition Leader Jamale Pringle, convened on Thursday in a tense session that brought critical issues of government debt, statutory compliance, and Social Security transparency to the forefront. The meeting began with procedural clarifications but swiftly escalated into a heated debate over financial accountability. Pringle emphasized the need for the committee’s rules of procedure to be formally presented in Parliament, citing recurring disruptions and strained interactions with government members. The Director of Audit and the Accountant General provided updates on long-standing financial adjustments, including accounts linked to defunct entities like a 19th-century savings bank. While some adjustments could be resolved administratively, others required parliamentary approval, with officials pledging progress by year-end. Pringle warned that delays could perpetuate distortions in the nation’s financial records. Lawmakers expressed frustration over statutory bodies failing to submit audited statements, particularly Social Security, which had only provided management accounts from 2022. The Director of Audit highlighted the lack of independent oversight in managerial accounts, underscoring accountability gaps. Members called for a compliance table to identify chronic offenders since 2010. The committee also scrutinized a $330 million bond issued to Social Security, with Pringle questioning the decade-long freeze on interest payments and whether the arrangement had parliamentary approval. Treasury officials acknowledged the debt as a priority but admitted to inconsistent payments, often relying on asset swaps rather than cash. The status of NAMCO, a state-owned company, was also examined, with audits for 2017–2020 reportedly completed but never tabled in Parliament. Members agreed to address this omission in the next sitting. The session was marked by sharp exchanges between Pringle and government MPs, with accusations of misleading the public and debates over the PAC’s mandate. Pringle argued that the committee was being hindered without full access to accounts, while government members pointed to other parliamentary mechanisms for accountability. Discussions also revealed uncertainties about government investments, with officials admitting documentation gaps. Pringle concluded the meeting by thanking auditors and civil servants for their support but stressed that true oversight depends on timely financial disclosure. He highlighted the live broadcast of the proceedings as a step toward greater transparency in public finances.
Pringle Pushes for Answers on Social Security, Debt and Missing Reports at PAC Meeting
