Indicates PEC Report
By: Arret Jatta
The 2019 and 2020 report of the Public Enterprise Committee (PEC) reveals that theGambia International Airline (GIA) purchased a vehicle (Mitsubishi Pajero GLX (BJL 5570 S) for the Managing Director at a cost of “D3,493,333 from TK Motors Limited that did not pass through the procurement department and was not done in accordance with GPPA’s guidelines”.
The report further stated that the receipt and delivery note from the supplier were not attached to the payment voucher as well.
“It was also noticed that the new vehicle was acquired in a part-exchange transaction with the Managing Director’s existing car registration number BJL0573N. However, there was no independent valuation report to determine the fair value of the old vehicle. The value used in the exchange was based on the recorded net book value, which was D1,493,333.00,” the report says.
The committee recommends that the Board should ensure that all the acquisition of the assets is in accordance with relevant laws and regulations, guiding such transactions.
“Lack of compliance with the GPPA guidelines is a violation of the Act and lack of involvement of the procurement unit indicates weakness in the application of the company’s internal control,” the committee highlighted.
