Thursday, September 1, 2011

IMF Confirms Bean-Counters Indulged in Voodoo Accounting

After carrying out a PEFA (Public Expenditure And Financial Accountability) Assessment at the request of our Government for 3 financial years ending 2009. In the report they are saying that about a quarter of the capital budgets for two fiscal years was not spent. Which is something we had already pinpointed a couple of years ago.

I also want to know who placed in this dumb request because we surely can put our public officers to better use than to duplicate work that the Audit Office does every year. Especially given that they seem to be already spending too much time -- and hence our tax rupees -- with that white elephant called -- PBB. And the bloody audit reports have been coming in with terrifying persistence.

1 comment:

akagugo said...

Voodoo accounting, Reaganomics / Trickle-down economics, Programme-Based Budgetting, boomerang Circulars, and... this?

Our Deputy Commissioner and the Financial Secretary condoning / remaining indifferent to crimes being reported to them is akin to being accomplice of the crime, if I'm not mistaken... Now I realise why so many people just shrug shoulders and say "sistem la ki coumha". Maybe people do not revolt because they cannot: they are busy waiting for the next salary to tick one instalment after the other for their housing/personal loan to which their banks have chained them (with the abusive spreads, exaggerated guarantees / guarantors, and legal double/triple-checked securities attached) for most of their active lives. One word, and they may loose that lifeline

Now, if 15,000 of our youngsters have shown interest in a movement that calls for a new society, then we must so away with the old dinosaurs with decision powers that are perpetuating their corrosive action against the State (and by ricochet to the People). In this, only punishment is not enough: "name and shame" should do the deepest imprint in the minds of those who may get tempted...

But when these youngsters will read about the Wikileaks report about the level and reach of rot at the head of the State how far will they be swayed to remain tame. Or inversely to see it as an unprecendented opportunity to cut in the raw?

Let's see on the 11 September...