Tuesday, March 22, 2011

BOI Chairman Calls Mauritians Beggars

In an interview published yesterday. That's an insulting and highly inappropriate statement especially for someone who travels the world over seeking investments into Mauritius. He should apologise and tender his resignation.

What do you think?

20 comments:

Anonymous said...

So you think that we are in an extremely dominant position where investors are sending Tornadoes and Hawk Missiles between themselves so as to be the first to pour investment into Mauritius?? We need investment! I thus do not see why he should resign. Keep cool please.

Sanjay Jagatsingh said...

We're not desperate for investments. And if you don't have any self-esteem too bad for you.

Anonymous said...

Ok, the domestic market of Mauritius with 1.2 million souls is so huuuuuuuge that FDI is optional!
When road shows abroad are organised next time, we should make it clear to investors :" You can come or not come, we'll still gonna shine" That will boost our self esteem and make Mauritius attractive.

Sanjay Jagatsingh said...

We were better off with Rs1 billion of FDI and a progressive taxation system than a flat tax with RS10 billion of FDI that for the most part just make our society more unequal.

If Lam thinks he's a beggar that's his problem but he can stay in such a visible post making this kind of statement.

Size of market has little to do with levels of frustration that are way too high for too many of our citizens. It's all about the number of right decisions that we take per unit of time. And we haven't been taking a lot recently.

Sanjay Jagatsingh said...

*can't stay.

Anonymous said...

I've read your previous posts.Let's wait and see now that the system has become a lot more progressive.Capital gains tax, higher land transfer tax, additional 10 % tax when incomes exceed the 2 m threshold etcc.
But I do not think asking for such a radical decision as resignation is appropriate! In any case,the word beggar has to be seen in its precise context here.

Sanjay Jagatsingh said...

I disagree. The guy must go! Besides he's been letting too much investments of the wrong kind into the country.

With the result that the poor and the middle class have had to finance the shortfall in revenue with abusive energy prices including a bogus billion-rupee hedging loss at an institution which doesn't have to hedge in the first place: the STC.

Anonymous said...

I see where you are getting to. You mean to stay that investments in real estate should have been curtailed right?

If that is right, how did Lam's policy bring about the shortfall in revenue?

Sanjay Jagatsingh said...

Wander around on this blog and you should be able to piece this together by yourself.

Wrt to roadshows: are we shining right now?

AKASH said...

At first glance, the statement seemed benign.

But then, if "beggars are not choosers", and if we push this kind of 'rationale' to its end, we'd have to stop worrying about ethics and stop criticizing the likes of Eva Jolly labelled us as a "paradis fiscal", and we should become like Switzerland or Luxembburg, where the authorities do not ask for the source of your funds before injection into their system, i.e, we should squarely roll out the red carpet for the likes of Dawood Ibrahim, Ketan Somaia et al to do all kinds of business - without scrutinizing the source of their dollars, hard-earned or not - and thereby inflate our macro-economic figures for boasting around about them...
Then we would have to repeal the obligation for large companies to adhere to corporate governance principles.
Then what else? If begging implies that we should stop choosing, we should then spit on good-governance principles too, right? Then what else should we do away with? Basic accounting practices? Laws themselves?

No. We must be discriminate in what we allow to enter our country. A clean start spares you the dirty job of rekindling trust into the system. Surely Mr Lam doesn't want that kind of (far less) glamorous job...

Anonymous said...

zom darga ca papa, pas capave dire li narien, li bien proteger.

AKASH said...

More self-congratulation expected from BOI this year...

Anonymous said...

ministre dilo enan un solution pou problem dilo la - li augment tarrif.

aster kan pou enan emeute pou dilo dimoune pou pli revolter.

bizin demande Lam ki li dire ban soi disant investors la lor problem dilo

Anonymous said...

I think we should ask the Chairman to tell us how much his trips, board fees, per diem and other advantages have cost the BOI and therefore us tax-payers to find out if we are really beggars.

Anonymous said...

We are indeed very unfortunate to have people like ministre dilo in positions that are so key to our wellbeing. Very sad for us.

Anonymous said...

Mr maurice Lam looks down upon mauritian citizens, taking himself as superior to average mauritians, just because he lives in Singapore-New York. What has this man achieved for mauritius?

Anonymous said...

So funny that in his interview he keeps saying: "nous nous sommes, nous avons fait, nous avons, nous etions...". Mr Lam, Nous? What have you done? You reside in New York and you come here only four times a year to enjoy a lavish manger boire board meeting. Most of the work have been undertaken by professionals who have had to leave during the past two years because you refuse to promote them on meritocracy.

Anonymous said...

Beggars? - Look at Tropic Knits Ltd - we have beggars there - poor guys have had their salary truncated. Yet the company is Fair Trade Certified by the FLO Germany! Life is harsh really in Paradise.

akagugo said...

What kind of investment is BOI trying to attract from here and there, while boasting the "première place qu’elle occupe en Afrique, selon le classement établi par la Banque Mondiale, dans sa publication intitulée World Bank Doing Business Chart"?

akagugo said...

M. Lam pris en flagrant délit d'avoir le cul entre deux chaises: "Développons des marinas, attirons des voiliers" juxtaposé au "low-cost" aérien. Que veut-il vraiment pour Dodoland?