RETURNING GRADUATES CANNOT FIND EMPLOYMENT
Some graduates returning to
This is a very worrying trend indeed. As the economic downturn hits hard both the public and private sector have implemented large scale redundancies causing the unemployment figures to hit an all time high. Experts have warned that the situation will get more critical as the government is due to down size the civil service in accordance with a pledge made to IMF to cut public expenditure. The situation is expected to get drastically worse in the coming months as the government seems to be at a loss at what to do next.
As for the private sector, they are still waiting for the promised economic reform which could possibly reverse the negative trend and stimulate economic growth. The reluctance of the government to do away with trades tax altogether, reform the taxation system, social security, pension scheme, abolish price control and liberalise the economy in a meaningful manner, has made matters even worse.
Although the government has promised the IMF that they will implement economic reform they have dragged their feet on the issue ever since. The composition of the newly appointed National Economic Planning Council does not instill public confidence as the Chamber of Commerce is not represented and the qualification of most of the members selected to provide solution to our economic woes is suspect.