Parliament passes bill to reserve BTC shares to citizens
Thursday, May 08, 2014
The amendment makes the BTC employee scheme exclusive to citizens only. The minister submitted the bill under a certificate of urgency because the listing of the BTC Limited in the Botswana Stock Exchange is due on August 22.
He said the bill therefore seeks to ensure the allotment of shares to citizen employees. The 2008 Act opened the allotment of shares to all employees, irrespective of their nationality.
That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...