Christopher Gill's Column

SPPF Promises Junk This - Junk That!

Christopher Gill The word “JUNK” is taking on a new meaning with the SPPF at the helm of our countries affairs. A brief look at events as they unfold reveal a Government in collapse and all the props and lies they have made to the People of Seychelles are becoming evident as their bogus policies unravel before their own eyes. Seychellois, if you open your eyes and minds today, you will see the same play of failure unraveling. Our future is not with SPPF only our past is. As they lie to us on SBC and make us believe fish can swim on land, do not be fooled. As their pawns at SBC help them fake our prosperity when you see them, you see the lies and deception have come full circle only to have to face the SPPF themselves.

Remember The Presidential Election Promises

Seychellois, this is a good time to recall all those lovely Election Promises Mr. President made to us not long ago. Election Promises are a candidate’s “Manifesto” or Promise in simple terms to his People. The People vote for a candidate based on his Promise or Manifesto if you will.

1. Promise of A Strong Rupee

Mr. President went on SBC before the last Presidential Elections last year and said, “... it is SPPF Policy that our Rupee will remain strong”. This was an Election Promise made to all Seychellois, SPPF, SNP, and DP alike.

Today the Rupee is devaluing by as much as 40% against the Euro and Mr. President is nowhere to be seen on the subject. It is a collapsing currency. By the end of this year, it may devalue by a total of 100%. The Rupee has become a Junk Currency (High Risk). Even wise old ladies are taking whatever Rupees they have left in the commercial banks out and closing accounts once and for all. Back to the mattress and sewing kits. The writing is on the wall for those who are smart enough to believe what is written.

In absence of Mr. President on the matter, Mr. Faure a Minister that acts a little like France Albert Rene on SBC, (which reminds me of my six (6) year old Son who likes wearing Superman suits) tells us now that we must have a “Competitive Rupee”, the “Rupee must adjust” and that his Ministry has no control over the value of the Rupee and it is set by an “Independent Central Bank”.

In Seychelles, there is no Independent Central Bank. Mr. Faure wants us to believe that the SPPF Government is serious and responsible.

I say to Mr. Faure and his SPPF a serious and responsible Government keeps its Election Promises it makes to the People. A Promise to keep the Rupee Strong is a Manifesto made to the People which they expect you to keep. When you walk away from your Promise, the People have every right to ask you to be brave and call new Elections.

The SPPF lie and break Election Promises to Seychellois time and time again.

2. Promise Not To Raise Fuel Prices

Mr. President went on SBC before Elections last year and told us, “...it is SPPF Policy to not raise the price of fuel in order to create more economic activity in Seychelles”. This same Mr. President’s Government now tells us 12 months later, that they are roughly doubling the price of fuel for Diesel and Gasoline. Lubricants have already gone up. They claim that now they want to “curb consumption”. This means they want Seychellois to use less fuel. Meaning, the Boom is not real. It is fake! The Minister of Finance says we “Burn Dollars” today, $60 Million a year compared to 2001 when we burned on $ 15 Million on fuel bills. However, in spite of this huge increase in consumption, the SPPF economy from 2001- 2006, has not grown. On average it has retracted and contracted and become smaller in real terms. In many years while fuel bills went up and total tonnage of imported fuel increased, our productivity as a Country went down. That is because SPPF mismanaged the opportunities it had in soft years.

This means that the fuel brought into the Country has been put to very unproductive use from 2001 to 2007. Where did all the fuel go? Much of the fuel has likely been resold by “some organization” that can buy fuel for cheap, tax free and that same organization has the power (unfettered of course) to resell the same to boats, ships and planes. Perhaps the Ministry of Finance can divulged the Island Development Corporation’s (IDC) fuel concessions books showing how much fuel it has received from SEPEC since 2001 until 2007 before it hiked fuel cost upon us Seychellois. Then we would know how relatives manage to keep books straight and run a tight ship in the name of the People of Seychelles. Of course, we must all be grateful.

Behind SPPF fake curtains of success is really great failure, which today they find it convenient, to have the People of Seychelles pay the price. Seychellois, if Minister Faure’s interview on SBC has not scared the day lights out of you, you better open your eyes and clean out your ears. The DOOM is upon us! As a result of SPPF Government’s measures, many businesses will fail. Many workers will be laid off and have to take jobs they are not trained to do. Many families will loose homes and not be able to pay mortgages. Mr. Faure is telling us all to take the Tata Bus to work, while he drives in his nice Honda Accord 2000cc. We pay Rupees3.00 for the bus fare plus his fuel bills for his nice Honda Accord 2000cc. That is very communist. We curb consumption, you increase it...we pay the price for the increase. This is what SPPF means when they say Seychelles is Booming! Their Boom is now our Doom! But be careful, they are tricky. They will say, “ Huh, we are a serious responsible Government that must protect all “nou bann a-ki”. Right!

Mr. President and his team have broken another Election Promise of not increasing fuel prices.

3. A Heart For All Seychellois

Mr. President went on the campaign trail and even went to Church 12 months ago. He went on SBC and told us, he is a President for all Seychellois....he told us he has a heart for every Seychellois; he even told us that Seychelles is for Seychellois.

Today, he has fired many civil servants. The numbers are in the hundreds. There will be more to follow. It’s futile to think you will not be next. Sooner or later, you will be next. Over 60 of these terminations have been in the Information Technology (IT) Sector a field the Government of Seychelles needs much assistance in after failing to successfully set up “e- government”, after over Rupees 20 Million was spent on that brainy idea, which was contracted out to SPACE, without first securing sufficient fiber optic cables and adequate server capacity. The Seychellois terminated will be most likely replaced by expats as usual under SPPF. Our thoughts go out to all of them and their families whether or not they are SPPF, DP or SNP. They are after all, Seychellois.

History must record, that the weeks before the terminations took place, this President closed his Victoria Office which traditionally received the public. He told us to go to the Districts for assistance. He also took himself a nice shopping holiday in Singapore prior to terminating by “Redundancy” over 100 civil servants. He never spoke to them, never offered them an alternative. Never even let them know what he had in store for them. The thinking behind it all was a little like the Coup D’etat of June 5th 1977, if you understand where I am coming from.

While civilians are fired, military personnel are promoted of course. Recently, Mr. President has promoted the military cadre remaining in his “People’s Army” . This is not a coincidence but testimony of one fact: we live in a military state and as things get worse economically in Seychelles, Mr. President will punish the civilian population for his Government’s failures in redressing the economy. He will rely on the Brut force of the military to suppress the public will and cry of foul play or victimization. The same strategy was used in many South American countries in the 1970’s. But as the colonels and generals become too numerous to count after successive promotions in the face of successive economic failures, the generals soon decided in a systematic manner to take matters into their own hands. Remember General Pinochet anyone? He made a great President for many years in his Country. He was credited though with killing communists who today still haunts him. Not good to kill.

Mr. President has broken another Promise to have a heart for every Seychellois!

4. Seychelles For Seychellois!

Mr. President told us “Seychelles is For Seychellois”. Another deception and lie. No other President has had more land transactions for One Rupee directly or indirectly to rich foreign Arabs as Mr. President. No other President has had so many projects announced overseas in the International Press before being announced in Seychelles first, and before having EIA’s submitted and Planning Authority approving the projects.

All the while, Mr. President inhibits Seychellois from developing their own properties in their own Country. Under Mr. President and SPPF we are not Booming! We are heading for Doom! He will create an island oasis for the rich and powerful from the dessert sands.

We Seychellois will be told do not worry, we are only restructuring. Restructuring it is. We are being displaced in our own Country, regulated to Third Class Citizens. SPPF will make us all servants and street cleaners in our own Country. SPPF has betrayed the trust of the People. Those who have not seen this must open their eyes. Those that see must educate their brothers and sisters who live in complete darkness of events unfolding before them. The Torch of Freedom is bright enough to bring light even in the darkest corner of the world, where evil men ply their evil trade. We must bring forth light!

5. Mr. President Said We are Debt Free

Mr. President said in October 2006, upon arrival to Seychelles from visiting the Pope at the Vatican and Lehmann Brothers London Office, that we paid up all our debts and were now debt free. Lie. We paid some regional bank debts mainly to African Development Bank (ADB) and Tokyo- Mitsubishi a Commercial Bank, but the Junk Bond he issued in our name is very much a debt which we must repay. The interest is higher then regional bank interest.

What Mr. President did then was seek out a Sovereign Credit Rating for Seychelles in order that it may float some Junk Bonds. Junk Bonds are considered high risk commercial paper. Once Seychelles looses any democratic credentials or defaults on the Junk Bond, its credit worthiness will be reduced. Lenders will shy away. SPPF will be stuck again. Now you know why Regar won its case. Now you know why we can write what we do and still walk the streets. Anything to the contrary will affect Seychelles ability to raise money on the International Financial Markets in the future. The first Junk Bond was for $200 Million. A Second one was recently raised for $30 Million. Much less then the first one, because Lehmann Brothers is likely now having doubts about Seychelles ability to repay and it’s own ability to keep the Indian Ocean Tuna Factory running profitably when faced with an Eleven (11) year all time drop in Tuna catch in the Indian Ocean. Business at the cannery is down 40% this year. This means 60% of our revenue is 40% down. So much for Boom. It is Doom as usual under SPPF. We skipped the Gloom period!

“Two Junk Bonds Don’t Make a Right...a Third Junk Bond... May just turn off the Lights!”

May God Bless All Freedom Loving Seychellois!