25 Oct 2007

Solomon Islands losing thousands of dollars in logging revenue - says RAMSI official

8:49 am on 25 October 2007

The departing RAMSI development Coordinator says Solomon Islands is losing about 1 million Solomon dollars or over 142,000 US dollars a week in logging revenue.

Stuart Schaefer made the comments during a farewell speech in Honiara last night on the eve of his departure after two years in the country.

He reminded the government the high rate of logging cannot be sustained and there is urgent need for policies that will sustain and maximise revenues today and in the future.

Mr Schaefer revealed estimates that indicate the country is losing 1-million Solomons dollars a week in potential revenue from log exports.

He urged leaders to make sound decisions that will lead the country down the road of prosperity, good governance and stability and security.

Mr Schaefer is being replaced by Paul Kelly of Australia.