The Finance and Public Accounts Committee (FPAC), chaired by the Leader of the Opposition Hon. Sebastien Pillay, has kicked off its work for 2023 targeting ex-ante financial scrutiny by carrying out two crucial initial meetings with the Seychelles Ports Authority (SPA) and the Seychelles Civil Aviation (SCAA) on Wednesday 15th and Thursday 16th February 2023. The Committee was comprised of Hon. Sandy Arissol, Hon. Conrad Gabriel, Hon. Georges Romain, Hon. Richard Labrosse and Hon. Churchill Gill. They were accompanied by Parliamentary staff, the Deputy Clerk, Ms. Alexandria Faure and the Committee Assistant Secretary, Ms. Sheryl Rangasamy. The aim of the meetings and visits was to obtain an in-depth overview of the commercial, financial and governance structures of both entities, as well as scrutinize major projects being spearheaded.
In the meeting with the Seychelles Port Authority (SPA), the CEO, Mr. Sonny Payet and the Chairperson of the Board, Mr. Gilbert Frichot, in the presence of other Board Members and Senior Management staff, provided an overview of the governance structure, budget and financials of the organization. The Members addressed pertinent questions relating to the management of the budget of the SPA, use of resources and threats to its operations as a commercial entity. The Port extension project was also discussed, including the impact of the projections that were highlighted and the need to seek out new opportunities and the expansion of diverse revenue streams. Members of FPAC addressed the fiscal impact of the port extension project, including its impact on the financial status of the SPA and its capacity to handle and provide the operative manpower for its running in the future.
The Chairperson of FPAC, Hon. Pillay noted that whilst the project is urgent and an impressive amount of work has been carried out to ensure that it is re-designed and meets the needs of the country, he also raised concerns of the economic impact of such a project and highlighted the role of FPAC as the oversight mechanism over projects of such huge financial investment.
In the meeting with the SCAA, Mr. Garry Albert, the CEO and the senior management team provided the Committee with a detailed overview of the operations of the SCAA, its business model, financial and commercial strategies. The Members addressed many questions to the CEO and the general managers present in order to better understand the revenue streams that could be further enhanced, reviewed the financials and projections for 2023, as well as understand the necessity for the separation of the regulatory and airport management fields of the industry. Mr. Albert provided the Committee with a detailed overview of the dynamism and important reliance on regulations in the aviation industry and how this impacts the costs of operation and emphasized the need for continuous investment in equipment and recruitment of personnel. The visit included a tour of the Airport facilities and support structures in place.
The FPAC would like to thank the board and management of SPA and the SCAA and intend to revisit some of the issues discussed. The FPAC will also hold similar meetings with other SOEs.
