Call for clear rules on Pula Fund drawdown
Friday, January 24, 2014
The Fund, which stands at P48 billion, is a sovereign wealth reserve comprising both national savings built from historical budget surpluses and mineral revenues as well as foreign reserves in excess of the country's medium-term requirements.
A report by the Organisation for Economic Co-operation and Development (OECD), titled: ‘Export Restrictions On Raw Materials: Botswana Experience’ says the fund needs transparent and clear rules.
According to a report elsewhere in this publication, various district councils announced that a one-bedroom home now costs over P130,000 more, a near-unthinkable 32% increase. This isn't just a minor adjustment, but a devastating blow to the dream of affordable home ownership for ordinary citizens.What is most alarming is not just the scale of the increase, but the profound confusion it has exposed. Minister Ramogapi has publicly...