Management of public funds requires a rethink

The emergence of the chairman and CEO in the IP as well as the presence of other members without proper investment background needs to be reviewed. — Reuters

EVERY year, without fail, the Auditor General’s (AG) report to Parliament will unearth some of the shenanigans out there mismanaging public funds that have been entrusted to them.

This year, the target was a few corporations but the biggest one was on Human Resource Development Corp (HRDC), which is governed under the Human Resource Development Act by the Human Resources Ministry.