4 Apr 2013

Raising funds for CNMI Retirement Fund a priority

11:31 am on 4 April 2013

Legalizing casino gaming on Saipan, establishing an offshore banking industry, and tighter enforcement of Northern Marianas Islands tax laws are among revenue-generating ideas on the table to help fund the NMI Retirement Fund and other public services.

There is now increasing urgency to come up with a way to prolong the Fund's lifespan beyond March 2014.

Governor Eloy Inos said yesterday his proposed fiscal year 2014 budget will appropriate to the Fund more than $10 million US dollars, which is the amount set aside under the current year budget.

The Governor and other members of the 18th Legislature and Delegate Gregorio Kilili Sablan held a meeting yesterday to brainstorm on revenue-generating ideas.

The Saipan Tribune reports legalizing casino operations on Saipan has been a recurring proposal for some time now.