31 Oct 2013

The Assistant Minister of Finance and Development Planning, Mr Vincent Seretse, has urged dikgosi to be cognizant of how to sustain the economy.

Addressing members of Ntlo ya Dikgosi in Gaborone on October 30, Mr Seretse said this was in recognition of the fact that the mining sector which had been the main driver of Botswana’s economy and main source of revenue continued to underperform.

Mr Seretse said alternative sources of revenue were becoming more critical than ever before, emphasising that government’s role in the budgeting and planning processes was to support and facilitate, while accountability and responsibility remained the prerogative of all.

The secretary of economic and financial policy Dr Taufila Nyamadzabo, said the objectives of budget pitso were to inform stakeholders on the national budgeting process and provide a forum for discussions of national priorities to inform resource allocation in the next financial year.

Mr Nyamadzabo highlighted that the purpose of the 2014/15 budget strategy paper was to help bridge the gap between public expectations and what government could actually deliver given available resource. The 2014/15 Budget Strategy Paper served as a framework to discuss strategic choices to achieve Millenium Development Goals by 2015,Vision 2016 goals and address challenges identified in the mid-term review of NDP 10.

He stated that the proposed priorities for 2014/15 was that there should be completion of ongoing projects and improved maintenance of existing infrastructure, as well as continue with poverty eradication programmes among others. Kgosi Puso of Batlokwa expressed concern that government departments seemed to be concentrating on workshops, saying much money was being lost as the most benefitting sector is the hotel industry.

Kgosi Puso dismissed the practice saying it was not even accompanied with service delivery, noting that such workshops should have a significant impact government service. Kgosi Kegaisamang Ramokwena of Maun complained that banks charged high interest rates for such loans as mortgage loans, saying interest rates in most instances exceeded the principal amount. He asked if there was no price control to regulating the banks.

Kgosi Oreagetse Machilidza of Boteti proposed that Ipelegeng workers should be equipped with skills so that they could venture in to businesses to create self-employment. Kgosi Basiamang Garebakwena of Molepolole raised concern that government injected money in poverty eradication projects where concentration was on making donations than on enhancing community development projects.

In response, Assistant Minister Seretse advised Kgosi Ramokwena to seek reasonable interest rates for loans from different banks so that they could make a suitable choice. ENDS