With little time left, crisis panel off track

With barely a day before it expires, a special Senate committee tasked to deal with CNMI’s economic crisis has yet to draw up a list of recommendations and possible solutions that may help the government address growing fears on the worsening condition.

But a co-chair of the joint panel yesterday brushed aside perceived failure to plan a strategy at this time, saying that other government bodies set up in recent months are tackling the same problems that have plagued the island economy since late last year.

Senate Floor leader Pete P. Reyes also said they are still gathering information from various groups which can assist them to come up with a comprehensive report for consideration by the legislature.

“The panel is still active but we have agreed that it could be a duplication of ongoing efforts by other government groups and organizations to seek solution to our economic problems,” he said in an interview.

Aside from the Senate and the House of Representatives which have respective special committees, the Tenorio administration launched last May its Economic Recovery and Revitalization Task Force in a joint undertaking with the private sector.

The Northern Marianas College has also plunged into the economic sphere as academicians and other officials are conducting a study and holding a summit scheduled next March.

Since these groups have similar agenda as the Senate, they will just have to allow them complete their objectives while the special panel takes a “proactive stance,” according to Reyes.

“It’s not a failure,” the senator explained. “We consider this an unnecessary burdensome because it is something that the entire community is trying to come up with responses.”

The panel, composed of members of the Senate committees on Fiscal Affairs as well as Resources and Development, was formed last November 10 and has been given 30 days to complete its review. Committee chairs Reyes and Sen. Juan P. Tenorio head the temporary group.

The move followed requests from Gov. Pedro P. Tenorio to seek solution to the deepening financial crisis of the island government in the wake of slowdown in business activities here.

Because of its serious cash flow problem, finance officials have asked a repeal or suspension of laws that will cost the financially troubled government millions of dollars in additional expenditures.

In his directive issued to senators, Senate President Paul A. Manglona listed down seven issues in the agenda for review by the joint panel, including declining revenue collections and possible ways to attract foreign investments into the NMI.

The Northern Marianas is reeling from its worst crisis in years spawned by the prolonged economic upheaval gripping Asia, its main source of tourists and investments.

Due to continuous drop in the government cash collection and expected closure of many local businesses, Tenorio last month slashed the 1999 fiscal budget by $32.5 million down to $216.75 million, an amount that will affect its operations.