Fearful clouds of insolvency

Posted on Jan 14 1999

With a $57 million deficit, a steady contraction of the local economy, where would the local government get $47 million in direct tax contribution by the NMI garment industry? This would be a most relevant question if the Manhattan law firm succeeds in its scare tactics against suppliers and retailers who purchase finished apparel products from the local garment industry here.

Most recently, the administration implemented a 13.4 percent across the board cuts in all departmental and agency budget allocation for the rest of this year. It hardly could scrounge up $1.7 million to assist the Public School System meet its basic needs. And even with this assistance, the PSS is still reeling from budget cuts and would have to endure what the immediate future holds when revenue generation goes deeper south.

The Department of Health is also at the resuscitation level and may need to use a ventilator to survive in terms of the delivery of health care without severely compromising current quality health care. It has taken a severe cut in funds for medical supplies from $3.5 million per year to a little over $900,000. If revenue generation contracts any further, CHC too would suffer as it struggles to meet its fiduciary responsibility.

These are daily reality in an archipelago whose fragile economy is often the victim of external influences. Understandably, there’s nothing we could do to slam the brakes of Asia’s crisis which has assaulted our primary industry beyond our wildest imaginings. These are problems that the lead federal agency doesn’t necessarily know by heart, but has the audacity to further ruin an already struggling economy into the crater of total economic meltdown.

We are sure you all agree, including the federal court here, that such an ill-conceived policy that may not be in the form of litigation will wreak total havoc upon an already hard to find revenues to meet our daily needs that piles up by leaps and bounds. We solemnly ask for the court’s reasoned views in this matter in that there’s nothing new that the Manhattan law firm has to offer except strife and disruption of the livelihood of less sophisticated islanders. No one has listened to us and the federal court is our last hope. We trust that it will take our often inaudible and meek voice into consideration as it reviews the planned litigation. Si
Yuus Maase` yan ghilisow!

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