- Published on 04 December 2017
The continued presence of staff who participated in the botched fuel deal that prejudiced the Central Equipment Mechanical Department (CMED) of $2.7 million could scare off investors willing to partner CMED, a parliamentary portfolio committee has noted.
In its submission to Parliament, the Parliamentary Portfolio Committee on Transport and Infrastructure said the engagement of the Reserve Bank and the Ministry of Finance needed to be expedited to guarantee safe investment and policy consistency to foreign investors who are keen to partner CMED in the importation of fuel. (Herald)
The two engaged parties has to assure potential investors of a hassle-free return on investment and all the culprits to be brought to book. Also sufficient structural and organisational controls have been put in place to prevent recurrence of revenue leakages.