BoM Releases nTan Report, This Time

Here it is. I hope the first one will be released too. In the name of transparency.

Nicky Tan Needs to Be Brought Back

I mean if we paid him Rs70 million to investigate a fraud of less than Rs1 billion, shouldn't we bring him back to investigate the multi-billion blunders at both the STC and MK? I am sure we could get a hefty discount per billion squandered investigated especially if we get our top negotiators involved.

Maybe, maybe not. But at least a fact-finding committee should be instituted at each one of these corporations to find out what really happened. And I think we can count on the magnificent statesmanship Navin Ramgoolam has shown throughout his prime ministership for this to happen with lightning speed. After all it's no secret that he likes speed, isn't it? And he did promise before July 3rd, 2005 that he would bring NTan to wrap up some unfinished business.

Thanks George, But I Think We'll Pass

I am referring to what looked like an assurance given by the economist and MEXA boss this afternoon on a private radio about the apparent prudence with which the National Pension Fund (NPF) invests workers' money. He was up against Ashok Subron who knows infinitely more about how the economy of Mauritius works than Sithanen and his university buddy, Mansoor, lumped together.

Indeed, standard corporate governance practice suggest that the people of this country be provided with all the information and given the opportunity to make that determination by themselves. That should be relatively easy for the Financial Secretary, who chairs the investment committee of the NPF, to do: the cost of disseminating information is close to zero nowadays. 

Besides, there's a moral obligation for the government to rapidly become more transparent in this and some other areas given that the MCB-NPF scandal is still fresh in everyone's mind. There are also so many great models for pension fund governance. Click here and get ready to say Wow!