There is a need for a manufacturing base in our country to drive forward the economic momentum for growth together with a service led recovery.
The central bank must play a bigger role in selling up a regulatory framework for the banking sector and creating an Ombudsman commission to monitor the activities of the banks to ensure consumers are having a fair deal whilst using banking facilities either for borrowing or saving for the future.
The current FSC is not fit for purpose as it has failed to deliver the financial objectives desired to meet people’s expectations as it is more inclined to be at the beck and call of the governing power.
What we are advocating here is more independence of our institutions and the private sector leading the economic recovery through investment in people, business innovations in creating new enterprises whilst developing and using new technologies.
We need a central bank which must be independent of making fiscal and monetary decisions but works in close liaison with the present rulers in the interests of all people.
There is a need for more clarity of purpose and transparency in the banking sector led by the central bank on its aims, objectives and mission not only on setting up of inflation or monetary targets within a fiscal discipline framework.
What is the role the government and the central bank in delivering economic growth and facilitate the corporate sector and individuals in creating new ventures, business innovations using digital technology and developing strategies in stimulating growth?
There was a lot of speculation on SME bank as a government policy .?
We need to cut waste and streamline public services as part of public sector reforms together with good governance, accountability and performance led objectives in management.
We need a robust public sector delivering value for money and high standard services .Not easy but doable.
We need less government but more actions.
The government must govern but allow its people to lead an independent life with minimal interference in their daily lives.
A government of the people, by the people and for the people that are the Motto for MIP
Best wishes to you all