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EDITORIAL: Public funds wastage

The National Assembly’s directorate for committee services’ activity plan for July to September, a period which will see lawmakers spend about N$15 million to attend workshops and other committee work, speaks to the gross level of public funds wastage.

A huge chunk of this budget will cater for daily subsistence allowance for travelling lawmakers - this despite many of these trips not yielding the desired returns.

In most cases, especially on international trips, our lawmakers relegate themselves to mere conference attendees. At times, some even return home without making single contribution at the events they attend.

Apart from returning home and tabling reports which bring little value to the lives of ordinary Namibians, Namibia as a country gets little in return for its financial commitments.

This situation has been worsened by treasury’s failure to control excessive spending on the travels of public officials.

We have heard and seen how S&T has become a great source of wealth for public office-bearers. In some cases, such allowances even exceed the salaries of these officials, and many end up looking forward to S&T more than their salaries.

The exorbitant ministerial S&T budget is a sign of a financial system that is vulnerable to abuse. That’s why most ministries are comfortable returning money allocated for development to treasury, but the S&T budget is depleted quickly.

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Namibian Sun 2024-05-20

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Premier League: Sheffield United 0 vs 3 Tottenham Hotspur | Crystal Palace 5 vs 0 Aston Villa | Brentford 2 vs 4 Newcastle | Brighton 0 vs 2 Manchester United | Liverpool 2 vs 0 Wolves | Burnley 1 vs 2 Nottingham Forest | Luton Town 2 vs 4 Fulham | Manchester City 3 vs 1 West Ham | Arsenal 2 vs 1 Everton | Chelsea 2 vs 1 Bournemouth LaLiga: Barcelona 3 vs 0 Rayo Vallecano | Cadiz 0 vs 0 Las Palmas | Granada 1 vs 2 Celta Vigo | Mallorca 2 vs 2 Almería | Atletico Madrid 1 vs 4 Osasuna | Villarreal 4 vs 4 Real Madrid | Valencia 1 vs 3 Girona | Real Betis 0 vs 2 Real Sociedad | Athletic Club 2 vs 0 Sevilla | Deportivo Alaves 1 vs 0 Getafe SerieA: Salernitana 1 vs 2 Hellas Verona | AS Roma 1 vs 0 Genoa | Inter Milan 1 vs 1 SS Lazio | Monza 0 vs 1 Frosinone | Udinese 1 vs 1 Empoli | Sassuolo 0 vs 2 Cagliari | Torino 3 vs 1 AC Milan | Lecce 0 vs 2 Atalanta | Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion English Championship: Southampton 3 vs 1 West Bromwich Albion Katima Mulilo: 11° | 30° Rundu: 10° | 30° Eenhana: 11° | 31° Oshakati: 13° | 30° Ruacana: 11° | 30° Tsumeb: 14° | 28° Otjiwarongo: 11° | 26° Omaruru: 14° | 29° Windhoek: 11° | 26° Gobabis: 12° | 26° Henties Bay: 20° | 35° Wind speed: 46km/h, Wind direction: NE, Low tide: 07:38, High tide: 14:01, Low Tide: 19:40, High tide: 02:00 Swakopmund: 19° | 27° Wind speed: 21km/h, Wind direction: SE, Low tide: 07:36, High tide: 13:59, Low Tide: 19:38, High tide: 02:00 Walvis Bay: 23° | 34° Wind speed: 23km/h, Wind direction: SE, Low tide: 07:36, High tide: 13:58, Low Tide: 19:38, High tide: 02:00 Rehoboth: 12° | 27° Mariental: 15° | 29° Keetmanshoop: 17° | 29° Aranos: 15° | 28° Lüderitz: 19° | 32° Ariamsvlei: 17° | 31° Oranjemund: 14° | 25° Luanda: 24° | 27° Gaborone: 14° | 27° Lubumbashi: 11° | 26° Mbabane: 11° | 23° Maseru: 8° | 25° Antananarivo: 10° | 19° Lilongwe: 13° | 27° Maputo: 18° | 26° Windhoek: 11° | 26° Cape Town: 14° | 19° Durban: 17° | 27° Johannesburg: 15° | 25° Dar es Salaam: 23° | 28° Lusaka: 14° | 25° Harare: 11° | 25° Currency: GBP to NAD 23.04 | EUR to NAD 19.72 | CNY to NAD 2.51 | USD to NAD 18.17 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.28 | USD to AOA 847.42 | USD to BWP 13.47 | USD to EGP 46.59 | USD to KES 130.73 | USD to NGN 1529.85 | USD to ZAR 18.17 | USD to ZMW 25.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 434.03/OZ UP +0.56% | Copper US$ 5.07/lb UP +0.24% | Zinc US$ 3 152.30/T UP 0.53% | Brent Crude Oil US$ 83.84/BBP DOWN -0.0027 | Platinum US$ 1 053.26/OZ DOWN -0.0295 Sport results: Premier League: Sheffield United 0 vs 3 Tottenham Hotspur | Crystal Palace 5 vs 0 Aston Villa | Brentford 2 vs 4 Newcastle | Brighton 0 vs 2 Manchester United | Liverpool 2 vs 0 Wolves | Burnley 1 vs 2 Nottingham Forest | Luton Town 2 vs 4 Fulham | Manchester City 3 vs 1 West Ham | Arsenal 2 vs 1 Everton | Chelsea 2 vs 1 Bournemouth LaLiga: Barcelona 3 vs 0 Rayo Vallecano | Cadiz 0 vs 0 Las Palmas | Granada 1 vs 2 Celta Vigo | Mallorca 2 vs 2 Almería | Atletico Madrid 1 vs 4 Osasuna | Villarreal 4 vs 4 Real Madrid | Valencia 1 vs 3 Girona | Real Betis 0 vs 2 Real Sociedad | Athletic Club 2 vs 0 Sevilla | Deportivo Alaves 1 vs 0 Getafe SerieA: Salernitana 1 vs 2 Hellas Verona | AS Roma 1 vs 0 Genoa | Inter Milan 1 vs 1 SS Lazio | Monza 0 vs 1 Frosinone | Udinese 1 vs 1 Empoli | Sassuolo 0 vs 2 Cagliari | Torino 3 vs 1 AC Milan | Lecce 0 vs 2 Atalanta | Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion English Championship: Southampton 3 vs 1 West Bromwich Albion Weather: Katima Mulilo: 11° | 30° Rundu: 10° | 30° Eenhana: 11° | 31° Oshakati: 13° | 30° Ruacana: 11° | 30° Tsumeb: 14° | 28° Otjiwarongo: 11° | 26° Omaruru: 14° | 29° Windhoek: 11° | 26° Gobabis: 12° | 26° Henties Bay: 20° | 35° Wind speed: 46km/h, Wind direction: NE, Low tide: 07:38, High tide: 14:01, Low Tide: 19:40, High tide: 02:00 Swakopmund: 19° | 27° Wind speed: 21km/h, Wind direction: SE, Low tide: 07:36, High tide: 13:59, Low Tide: 19:38, High tide: 02:00 Walvis Bay: 23° | 34° Wind speed: 23km/h, Wind direction: SE, Low tide: 07:36, High tide: 13:58, Low Tide: 19:38, High tide: 02:00 Rehoboth: 12° | 27° Mariental: 15° | 29° Keetmanshoop: 17° | 29° Aranos: 15° | 28° Lüderitz: 19° | 32° Ariamsvlei: 17° | 31° Oranjemund: 14° | 25° Luanda: 24° | 27° Gaborone: 14° | 27° Lubumbashi: 11° | 26° Mbabane: 11° | 23° Maseru: 8° | 25° Antananarivo: 10° | 19° Lilongwe: 13° | 27° Maputo: 18° | 26° Windhoek: 11° | 26° Cape Town: 14° | 19° Durban: 17° | 27° Johannesburg: 15° | 25° Dar es Salaam: 23° | 28° Lusaka: 14° | 25° Harare: 11° | 25° Economic Indicators: Currency: GBP to NAD 23.04 | EUR to NAD 19.72 | CNY to NAD 2.51 | USD to NAD 18.17 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.28 | USD to AOA 847.42 | USD to BWP 13.47 | USD to EGP 46.59 | USD to KES 130.73 | USD to NGN 1529.85 | USD to ZAR 18.17 | USD to ZMW 25.9 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 434.03/OZ UP +0.56% | Copper US$ 5.07/lb UP +0.24% | Zinc US$ 3 152.30/T UP 0.53% | Brent Crude Oil US$ 83.84/BBP DOWN -0.0027 | Platinum US$ 1 053.26/OZ DOWN -0.0295