The Seychelles Ports Authority attended the Finance and Public Accounts Committee (FPAC) of the National Assembly on Friday 25th May 2018

The Seychelles Ports Authority attended the Finance and Public Accounts Committee (FPAC) of the National Assembly on Friday 25th May 2018. The delegation headed by Chief Executive Officer, Colonel Andre Ciseau, Financial Controller Mr. Paul Laurence and Director for Strategies, Mr. David Bianchi. Amongst the issues discussed were dividends and taxes to be paid by SPA, SPA’s Port Victoria Rehabilitation and Expansion project and SPA staff turnover. The FPAC consented the proposal put forward by SPA in relation to SPA conducting business in foreign exchange with international operators who pay in foreign exchange so as to accumulate a reserve foreign exchange rather than going through the procedure of exchanging into local currency and thereafter having to repeat the process of exchanging into foreign currency. This fund that would facilitate the payment of the Port Expansion and Rehabilitation Project and prevent SPA from incurring significant losses through exchange rates.

The two hour session brought a lot of clarity into the current procedures being respected by SPA in the spirit of good governance, accountability and transparency. SPA remains committed to following all established procedures in the national interest and to remain a 100% Seychellois led team.