The Pension Fund has built a self catering luxury complex that is being rented for SCR. 750.00 per day. In total 16 luxury units that out smart Lemuria Hotel suites.
The hotelier community of Grand Anse Praslin are simply dumbfounded over the affair.
Many have raised this issue with the Minister of Finance, who is new to the job and was unaware of the decision to license the Pension Fund into the hotel business. The principle of removing government from business has long been advocated by the IMF.
The self catering villas are positioned facing the STC car park and the Grand Anse Primary school. Additionally a housing estate is nearby, walking distance, and a petrol station stores fuel within a few feet of the luxury complex. The Petrol station is run by independent operator Grandcourt.
Hotel operators say they will stop paying taxes until such time that the Pension Fund cease self catering business.
Government of Seychelles has a huge backlog of requirements for housing for staff on Praslin.
5 comments:
Pension Fund license to be revoked!
A gouvernment may and in should cases,of national Strategy to operate (private)Corporates,..these may be Energy,natural Resources monopolies etc...but however,a govt has nothing to do in other business sectors that are purely and should be purely operate by the private sectors such as Housing Rentals(except if houses are then rent to otdinary seychellois family under the seychelles! Programme which is a constitutuonal obligation),.Government houses as constitutionally stipulated MUST be for seychellois families in need,not to illegally,unfairly compete with the private sectors the cointry!s economic force.i fully support the action taken by the private sectors ,namely not to pay their Tax,until the govt reverse its unfair,unconstitutional,destructive housing corporate.you can nnot use Tax payers money to create Destructive competitive businnesses that will destroy Tax payers....pl...some commonsrnse...
Hey,pl i has a idea where you could invest Tax payers money wisely and profitably.. well pl. You could for instance,colect these tons ofvSeaweeds infesting our beaaches all round the country,and convert them into Medications for Cancer,Diabet,and many more easy made medications,but also on highvDemand arould the world not to mention,for our own national usage..it willballowcpl to collect millions in dollars annually,but also since many medications needed national could be produce here with a natural resources find locally,it would consequently reduce costs for medicationsvimportation.Pl would surely make millions ,much more than with an illegal housing Rental project that does not create wealth but destroy private sector the soul of ourveconomy
Pl Pension scheme,could instead of creating destructive pratices to our private sectors,thus the turbine of our economy, COULD.....place thesecmillions into iprofitable and which have proven more robust even during financial crises such as SOUTH AFRICAN GOLD INDUSTRY AS DHAREHOLDER,ACTIONNAIRE,....IN AN EXISTING BIG HOTEL INDUSTRY O.LY AS ACTIONNAIRE as the Frenchvwould say,..that is having not influence on the firn one has invested,place its money etc..etc.. Could be a modest Actionnaire in the foreign Tuna Seiners fidhing in our EEZ ...in a word,there must more better options as a government entity,for the Pension Scheme to generate enough,if notbmore than they could have ever dream of,that would allow the scheme to be financially heathly,with extra reserve for decades to come.
Now that the Rupee is convertible the GOS needs to invest in a diversified portfolio of common share stock to spread their risk.
Seychelles Pension fund should invest in Googles, Apple, Microsoft and even Boeing , Airbus, and Coca Cola.
C. Gill
I hope Michel will without delay,cater madame in one of the Prnsion Schemme illegal housing scheme.She does not 750 rupees to pour in pl coffer monthly,but her.money were used by State to build the so call public houses.. As Co.tributor ..of the tax you use to build houses,Madame has a share in them as equally has a right on it...
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