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Momodou
Denmark
11833 Posts |
 Posted - 20 Jun 2007 : 21:09:27
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INTERVIEW WITH HALIFA SALLAH
Foroyaa: What in your view is the cause of the fuel shortage?
Halifa: It is the Secretary of State for Finance and Economic Affairs and the Secretary of State for Trade, Industry and Employment who should do the explanation. Our concern is the lack of a coherent policy on the trade being conducted by small scale enterprises. According to the Secretary of State for Finance, the Government continued to pursue objectives of implementing and supporting policy measures that facilitate the creation of an efficient and effective economic environment for private sector led development and consolidate a liberal trade policy. What is however evident is that supermarkets are closing down, established traders have reduced the number of containers they have been bringing and redundancy in employment in the private sector is increasing. The Nation is owed an explanation regarding the unpredictable business climate.
Foroyaa: What is the proof that there is an unpredictable business climate?
Halifa: When there is demand and there is restriction of supply for no obvious reason, one could say the business climate is unpredictable. Take the recent fuel shortage, for example. How can one explain the shortage? In the last issue, we have shown that while there was a seeming shortage, small scale importers of fuel claim that just two of them had 140,000 litres kept from the market because of bureaucratic uncertainties which no official that was approached could settle. Can you imagine how many millions had been lost because of the shortage. As you conduct this interview, reporters are sending information that many filling stations which were closed on Monday were open on Tuesday. We have also spoken to some small scale importers of cement who indicate that they are restricted from importing by high import duty since they will prefer to sell cement at or about D200 per bag. Development is a chain reaction. Those who buy compounds pay capital gains tax. They also pay rates and so on. The demand for building materials also means that revenue from duty can also be derived from the sale of a variety of commodities if demand is sustained. Hence progressive taxation that is conducive to business activity would not make the buying of cement prohibitive by raising duties to unreasonable levels.
Foroyaa: So, you feel the market is being manipulated to the detriment of the small scale enterprises?
Halifa: An analyst should not speculate. What I would want to know from the SoS of Finance and SoS for Trade is whether it is efficient to have a regulatory frame-work for small scale enterprises without creating the institutions with the appropriate promotional modules to guide the efficient operation of such enterprises. How can a person who has paid 7.8 million worth of duty, in less than 2 years, be stopped from operating a business instead of being guided to run it according to the standards required. I am convinced that if these small scale enterprises are suppressed in favour of monopolies economic malaise will eventually grip the country. This can have a negative effect on all other services such as insurance and banking.
Foroyaa: Can you explain further?
Halifa: It is rise in economic activity which leads to demands in insurance and other services. Let me give an example of the implications of slump in economic activity. The SoS for finance and trade had indicated that remittances sent by Gambians had increased from 1.7 billion dalasis in 2005 to 1.8 billion in 2006. This means that a lot of foreign exchange is flowing into the country.
If banks buy this foreign exchange but do not have businesses that buy them back there will be foreign exchange glut in the banks. If this foreign exchange remains stagnant a bank can lose millions if the exchange rate drops below their original buying rate. In the same vein, insurance companies must either reinsure or reinvest. Slump in economic activity will reduce volume of their customers. Fluctuation in exchange rates could also be devastating to their reinsurance or reinsuring schemes. To limit all these uncertainties we must have policy makers who must rely on studies, institution building and enlightenment of those who are economically active in that they are not enshackled by any bureaucratic bottlenecks and monopolistic designs.
Foroyaa: How is NADD?
Halifa: We have been holding meetings to define the way forward. We expect to continue to receive feedback from people to help shape these defining moments.
Foroyaa: What are the concerns?
Halifa: Well, the same options we had when we met in 2004 are before us today. When we met in 2004 we had two options. It was made clear that since each party utilizes the period after an election to grow we could agree to disperse and operate separately until election draws near and then sit to decide which party and candidate to rally around for the election. This was the first option.
The second option was to create an umbrella party that will last only 5 years to build and work together to build the strength of the party pending the selection of a candidate by consensus or through a primary if consensus was unachievable. We pursued the second option but failed to maintain unity. The question before us now is whether to maintain this option or go back to the past.
Very sound ideas are emerging and we hope all those concerned will participate in the debate for a way forward.
Source: Foroyaa Newspaper Burning Issue
Issue No.71/2007, June 20 – 21 June 2007
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A clear conscience fears no accusation - proverb from Sierra Leone |
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kobo
United Kingdom
7765 Posts |
Posted - 22 Jun 2007 : 14:48:27
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Thanks Momodou as Foroya and Halifa Sallah are doing a good job to politically educate Gambians for their INDEPENDENCE, LIBERATION and to take their DESTINY INTHEIR OWN HANDS.
Likewise Honourable Darboe is doning a good job in the CRIMINAL JUSTICE SYSTEM. Give credit when its due and stop politics of HATE AND DIVIDE AND RULE POLICIES.
However without UNITY THERE IS NO WAY FORWARD AND PROGRESS FOR THE GAMBIA OUR HOMELAND.
Thanks! |
Edited by - kobo on 22 Jun 2007 14:49:26 |
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ylowe
USA
217 Posts |
Posted - 26 Jun 2007 : 13:17:21
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Governments nurture their local industries to become lean and mean, but in africa instead of becoming lean and mean they became fat and lazy. Because of the high level of corruption they can easily manipulate policies to be able to fix prices and discourage new bussinesses from entering the market(monopoly). This is what i think is happening in the Gambia.
Since the Gambia is in a construction phase lowering the taxes for commodities such as cements will also encourage more contruction and therefore more jobs.In a previous postings i also talked about the need for anti-monopolistic laws that will encourage competition in the market place.
Development is about institutions and when you have efficient institutions that are going to formulate the right policies everything else just kicks in. We need the institutional infrastructure that is needed for wealth creation and rescue this child, the african child from poverty. i have a dream that oneday the African child will be able to manifest his talents to it's fullest and compete in the global economy. i have a dream that oneday Gambian, Senegalaise, Ghanians, etc will see themselves as africans and not as Gambian, Senegalsie, Ghanians. Dalton please help. bye |
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Santanfara
3460 Posts |
Posted - 26 Jun 2007 : 13:58:48
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| ylowe , you are doing just fine . dalton can add a bit cheddam but you did wonderful . |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Karamba
United Kingdom
3820 Posts |
Posted - 30 Jun 2007 : 20:30:41
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| Out of Halifa's stock of information, there is reason to worry about the option of electioneering politics as depicted. Politics based on election gains is not sincere. That is already a failed option in Gambia. It has been failure for sitting governments in so long as they only engage the electorates most active during election times. It has been failure for the opposition because they stay passive and only stretch muscles to fight votes. That is a significant ponit of error needing correction. |
Karamba |
Edited by - Karamba on 30 Jun 2007 20:33:51 |
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