Editorial

CASH RELEASED FOR GOLD PURCHASE SHOULD BE PROTECTED

The direction taken by the Central Bank to release funds to boost the economy through non-oil products is one step which should be supported since the fall in the oil products prices globally. It is even more encouraging for the bank to have lived to its word and released money for the purchase of gold from local sources to be forwarded to the international market for competitive purchase. This would turn around and uplift the revenue. Five million USD is not some little cash if well spent and the gold is really bought for external trade. This is where the problem lies. Those charged with this exercise must be people of high integrity with their individual respect in the business circles. The point is that there have been cases where the government has released funds to be injected in different activities for the well-being of the nation and the citizens. Some of the funds have taken a dive in Deep Ocean not to be traced again or pocketed in pockets with permanent holes which cannot hold them. It is the duty of each and every one to protect and advance the interests of the nation without bending low to temptation. The results of the money released by the country’s coffer must be properly used so that it can benefit all. The bank giving the money should make sure that all activities from the local source to the international outlets were properly placed and properly doctored to eliminate cases of misuse or corruption. It should be clear from the start that it should not be a hide and seek game that end up in exchanging an item from one hand to the other. Those charged with buying from different sources should be honest to the country while well aware that the tax-payers who are the majority citizens are watching each and every move they are making. Honesty and trust should be applied in the seal.

error: Content is protected !!