By T. Lula Jaurey
IPNews-Monrovia,Liberia-9 May 2018: Finance Minister, Prof. David Farhat says a well-established nation is not only built on financial wealth money but a firm management and financial policy.
Prof. Farhat made the statement during an exclusive interview with this paper (Independent Probe) on Monday May 7, at the University of Liberia main campus.
“Nation is not only built on money but policy.”
According to the Professor David Farhat, the economic stability of any nation depends on the policy laydown by its decision makers especially drastic reduction in its expenditure on none essential items.
“We have to cut down our expenditure so we can get on the right path.” He added.
Importantly, the one time Finance Minister said Liberia needs to pay all of its domestic’s debt and seek employment for the young people-adding it’s their time.
“We need to pay our domestic’s debt and the country has to seek employment for the younger generation so than they can be better enable to take our place.” He explained.
Prof. Farhat, warned that a government that takes upon itself the posture of ‘lets wait and see and don’t know what new policy to bring in the process of transforming the lives of its people is headed for failure.
“Government should not be wait and see place, if you adopt such policy, I can assure you that you’re headed for failure which is not good for the forward march of any country especially Liberia which has emerged from prolonged civil conflict to development face.” Prof. Farhat added.
Prof Farhat, said the government of Liberia owes a lot of its citizens and foreign business people alike and needs to start paying and when paid government will which will have a trickle down effect of local economy.
Prof. Farhat: “ When government pays the vendor and its clients, there will be more people settled in business which will subsequently lead to a renew vigor to pay government taxes leading to the growth of the economy.”
The Former Minister of Commerce said, Liberians need to increase in business which will allow the Liberian businesses to compete with their counterparts from other countries.
“we need to stop cursing our investors and work harder because by cursing them poses a national threat to the country’s economy and the survival of its people.”
However, the Prof. said negotiation is the best way for investors but not the way it was been done during the past reign which was total nonsense.
“You see, when you sign agreement it make provision for review and one administration can’t come to do review on their own in total disregards to the previous government .” He blasted.
Prof. Farhat explained that it was important to allow the time limits enshrined in the virous concession agreements be honor and respected rather than going back on it .
The Former Finance Minister said, business is a friend to the country and to every government.
In conclusion , Prof. Farhat, all on Liberians to begin speaking on issues that affect their daily live rather than waiting for the international community help all the time.
