Editorial

TREASURY REFORM SHOULD HAVE LOWER CADRE IN MIND

The world-over treasury is the heartbeat of a country where economic matters and national coffer are bestowed. That the country is in the way forward of reforming the treasury is applauded and should take effect with immediate effect. It is important that the crisis committee under the economic cluster came up with the reform agenda which should be aimed at giving more power and value to the use of local instead of the preferred foreign currencies. This country can make a mark if the management of the treasury under the Ministry of Finance docket was properly given attention and made good use of. The good use should include boosting SSP through commercial banks where depositors should be able to earn at least certain percentage of their savings. They should also be able to get loans without involving so many procedures and protocols as long as the collateral can be proved to be worth the value of the required loan. The commercial banks though have their fears of lending should ease their stringiest requirements, mostly, for the lower and middle class borrowers to enable effective flow of cash into all sectors of the economic growth. By empowering the lower and middle cadre where the majority lack basics would inject new life in the area which had been ignored, but which has the majority players who could propel the growth to different level given the chance. With the white collar jobs few, while there are so many graduates who are ready and able to initiate their next cause of action but who are not able to raise the capital, the easing of banks regulations and availing soft loans for them would be the best way. The fear aside, this would mean that revenues which are dearly needed were sourced from different players and the treasury stands to gain from taxes collected.

error: Content is protected !!