well i think the idea of WOPS is a good one. but gov. should stay out of this. there are insurance companies that offer life insurance etc and if people want to they should go to those companies.
also i think WOPS only works if you die whilst serving so your wive(s) and kids would get something. but if you die after service then they shouldn't pay it. if you live thru to retire you should claim it yourself.
there is already enough deficit in the budget, thats why treasury bills are issued to fill the gap, hence there should not be any need for further commitments.
I had similar insurance premium which i had to give up. I could not get my money. I enrolled in a life insurance scheme because i did not have a child with the understanding that if i do, it will be converted to a Child education insurance. To date i cannot make the head or tail of it.
I am also worried about long term insurance and how the Commissioner Insurance is policing them. We should guard against another Continent Bank.
well you will get your money from the insurance company if you really want it.
but Continent Bank.......
well what i dont get is why should government pay private individuals who have deposited their money in a bank that has collapsed? was continent bank a government bank.?
i accept the Central bank has a role to monitor insurance companies and banks but to compensate?
if i put my money in standard bank and it collapse would the government compensate me and its british investors.??
Well may be they know why it collapsed. I guess the Central was supposed to keep % of the deposits of the continent bank so that in the event of collapse they might be able to compensate depositors.
However, continent bank was already a sick bank before 1994. Cash is a problem there. I think it was profitable but they had a very poor cash flow regime which eventually brought them to their knees. They had loaned out more than they can service recurrent operations. The cash deficit was the final straw.
Hopefully if those people pay up some might get compensation. The problem is these loans have not all matured yet so you cannot call up for faster payments. The loans were contrcated on a term and to ask for early payments is a breech of contract.
I thought i need to share this. Contrary to the widely believe that daily paid workers or temporary workers are in the minority, they are infact a sizeable work force.
In 1985, there were 10,700 established positions(full time government employees) plus 6000 workers on wages which is nearly 36% of the total civil service work force. Its time to abolish this type of employement and do something about them. They deserve better.
Is there any estimate about how many workers in the Gambian government have not received their salaries and for how long? I have heard in many other places it can be six months or years..
I have not heard that. In the gambia salaries have been paid on time. The only people who experience delays are those who are paid by travelling Pay Masters and work in the villages. But usually within 5 days they would have been paid.
We are lucky in the Gambia that salary delays are news to us.
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Posted - 08 Aug 2006 : 00:21:30
