The National Assembly Public Accounts Committee yesterday rejected the financial and annual activity report of the Assets Management and Recovery Corporation (AMRC) describing it as scanty and not befitting to be called a report covering the financial and annual activity report of a company.

Members also unanimously announced their rejection of the AMRC report and thereafter, the speaker of the National Assembly, Honorable Elizabeth Renner, on behalf of the committee, informed the AMRC representatives headed by its managing director, Abdoulie Tamba and financial director Yusupha Njie, about the decision of the committee. She said the committee considered the report far from what is expected of a financial and annual activity report of a company such as the AMRC.

The speaker did not hesitate to describe the report as scanty. “What we have before us here is like a letter addressed to an informal sector, not the National Assembly. The report is not more than three pages. We therefore urge the board and management of the AMRC to come back with an updated report about the finance and annual activity report of the corporation. We will give you one more last chance to put your house in order to bring something tangible to the house for approval. By Wednesday 10th February is your last chance to bring the detailed report about your financial activities”, she stated.

Abdoulie Tamba, the managing director of the AMRC responded to the comments made by the speaker and promised to comply with orders made by the Assembly. “We want to assure you that we will comply with your request and will be surely back on Wednesday with the report,” he promised.

Meanwhile, members of the Public Accounts Committee adopted and approved the financial report of the Gambia International Airlines (GIA) for the period effective 31sth December 2007. The report was presented by the acting managing director of GIA, Bakary Nyassi and his financial director, Bakary K. Sallah. The GIA delegation was led by Bakary Houma, the permanent secretary at the ministry of Works and Infrastructure and a board member of the GIA.

The GIA boss did a power point presentation  explaining in detail financial operations of the national career for the period 2007. Nyassi spelt out the aims and objectives of GIA, challenges, success stories registered by the company and the way forward. He then singled out the annual Hajj as another main operation by the company. He explained that the company lost about D14 million (fourteen million dalasis) given out as loan to its ex-staff and that efforts have been put in place to recover the said amount. He added that the GIA experienced an operating loss of D95, 444,000 (Ninety five million, four hundred and forty-four thousand dalasis) and gained operating profit of D12, 113,000 (Twelve million, one hundred and thirteen thousand dalasis).

Bakary K. Sallah, financial director also gave a detailed financial account of the company with the support of a handout. James Jatta, senior audit manager of the Augustus Prom Chartered Audit Firm presented the audit report of GIA to the Assembly.