Friday, October 18, 2024
spot_img
HomeOpinionEditorialsWhat About Economic Reforms?

What About Economic Reforms?

Lesotho Tribune has keenly been observing the proceedings in the National Assembly and we think it is time to register our shock that the constitutional reforms, neglected majority of the will of Basotho, as they appear in the National Dialogue Planning Committee (NDPC), focusing on ECONOMIC AND FINANCIAL REFORMS.

We are [not]shocked that nobody from the business community, whether formally or informally have approached the speaker of parliament and the speaker aware that the political class, as usual have neglected what has potential to exponentially change the fortunes of majority of Basotho – Economic & Financial Reforms!

Lesotho needs change. The NDPC report outlines clear steps for economic reform, but they are left on the wayside, as the political class fast tracks the portion of reforms certain to meet their short – term benefits. The country is stuck in old systems. Corruption, inefficiency, and poor governance are holding it back.

Basotho want their government to take charge. They have called for a 51% government stake in all mining ventures. This would ensure that wealth from Lesotho’s resources benefits the country, not just foreign investors. The government has not acted. Foreign companies continue to control the majority of mining operations.

What happens if Lesotho continues down this path? The mining sector, a key part of the economy, could slip further away from national control. Basotho see their resources being extracted with little benefit to them. This is a missed opportunity for economic growth.

Here are the key demands as suggested and expressed by the Lesotho stakeholders at various consultative fora convened by the NDPC:

Public procurement needs reform. The system is fragmented and corrupt. A centralized system is necessary to stop inflated prices and poor service delivery.

Meritocracy and accountability must be introduced in public institutions. Political appointments should end. Competence must come first.

The agricultural sector is underperforming. Farmers should be free to market their produce either individually or voluntarily through their own associations and

not forced to market through rent seeking boards or government appointed agents.

National Planning Board should be reactivated. Stakeholders wanted National Planning Board provided for in Section 85 of the Constitution, to be immediately re-activated. Then when the constitution is being amended the National Planning Board should be elevated to the level of an autonomous National Planning Commission. Bureau of Statistics, Monitoring and Evaluation Department, Planning Policy Analysis Department and the Development Partners Co-ordinating Department, should fall under the National Planning Board and later National Planning Commission. It is needed to guide long-term economic growth.

Corruption is rising. The Directorate of Corruption and Economic Offenses (DCEO) is not effective. It needs more independence and resources to tackle corruption.

Basotho demand better. They expect their government to take charge of the country’s wealth, especially in the mining sector. Without these reforms, Lesotho risks losing more than economic opportunities. It risks losing the trust of its people.

You need to ask: why are these reforms being ignored? What are the consequences of inaction?

The future of Lesotho depends on the choices made today. Selective reform is shortsighted. It is solves nothing. Basotho have spoken. Now, parliament must listen and act. 

Or is it too late?

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments