Water For Justice

BUSINESS SECTOR COMMENDS MINISTER ON THE BUDGET

Various stakeholders from business sector commended Finance and Development Planning Minister, Dr. Timothy Thahane for democratising the national budget.

This was said during the post-budget speech dinner held at Maseru Sun Cabanas in Maseru on Wednesday.

A representative from Motete Mining, Mr. Kennedy Khuts'oana, said the fact that the business sector, including members of the public are given an opportunity to stage their views pertaining to the budget is a clear indication that the Minister is committed to the principles of good governance and democracy.

He congratulated the Minister for having increased Old Age Pension from M200 to M300, saying by doing this, he is bridging the gap between the needy and the rich, hence a good move to the economic growth of the country.

He said the increase on public servants salaries with 8.5 percent despite global economic recession shows the government commitment to improving quality service delivery within public service.

His words were echoed by an Economic Analyst also a Writer for Newspapers, Mr. Majakathata Mokoena, who said the national budget is good, "all it requires is to be implemented effectively by different government ministries."

However, gaps were also recognised and that include attracting foreign investments.

Other Speakers were Mr. Lehlohonolo Manamolela, Human Resource Manager for Standard Lesotho Bank, including Mr. Lehlomela Mohapi Economics lecturer at the National University of Lesotho as well as Mr. Lazarus Murahwa, Managing Director of Nedbank Lesotho.

The trio asked the minister of finance to find ways to encourage local business community to invest in the local banks to improve the economy of the country. They said, many of the local business community put their large chunks of their investments in the South African based banks.

The dinner which was organised by the Lesotho Revenue Authority (LRA) and Nedbank was meant to provide a platform for the business sector to stage their views about the budget.

The 2009/10 budget proposes a total expenditure of M11, 651 million, while last year's budget was estimated at M9, 095 million.