Friday, April 17, 2009

Isn't it Ironic?

About nine years ago a chairman of the CEB declared that the public utility didn't have the financial means to expand so that it would have to rely on private capital. That reliance translated into the fleecing of its customers as the CEB ended up, quite conveniently for some, buying power at uncompetitive prices. At about the same time our government offered its guarantee without which the infamous Illovo deal wouldn't have gone through.

Fastforward to the present and a section of the private sector now wants taxpayers' money to apparently stay afloat and to avoid having to sack people and they don't guarantee that they will not eliminate jobs even if they get saved by government. That's of course after the rupee was depreciated from twenty-five to the USD to about 35, interest rates were cut and corporate tax rates were slashed. And the Joint Economic Council is now going to ask for help just in case they might need it.

What do you make of all this Alanis?

1 comment:

Sanjay Jagatsingh said...

If you're not convinced that Mauritius is a Tiger after reading this post then you're mighty difficult to please ;-)