Dear Editor – I wish to congratulate the Minister of Finance for rejecting the NPF Board’s new investment proposals.
I believe such bad investment choices have exposed lack of appropriate competencies and financial/investment skills of the current NPF Board.
For the sake of public confidence, the Minister of Finance must immediately revoke and terminate the current Board members’ appointments for the good of the members’ funds held in trust.
It is very important that such financial institution as NPF must have majority of Board members with specialised financial management and investment analysis capabilities and competencies.
We have surplus of local candidates who deserved to be appointed NPF Board members with the right skills and capabilities.
Beside such bad investment decisions should be lessons learned for DCCG government or any future government to ensure right people are appointed to various Boards so that due diligence and competent decisions are made for the good of the organisations.
Moreover, as a guideline whether a person has a Degree, Masters or PHD but if those qualifications do not match the nature of the institutions, please Minister, don’t be carried way with those academic papers because they may be irrelevant for these institutions.
Wrong choices will lead to bad decisions, NPF is a good example.