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Value for money is one of the hallmarks of good governance

Dec 05, 2019 Letters

DEAR EDITOR,

Value for money is one of the hallmarks of good governance. This is true of all organizations be they in the public or private sector. Money is the embodiment of the collective efforts and labour of the working people and should be managed prudently and with a view to obtain maximum returns on investments. It is in the above context that I note with concern an article in the Kaieteur News (December 4, 2019) in which it is posited that the Government could have purchased several light aircrafts on the $180 million expended on the purchase of five drones.
As economists would say, the true cost of money is not the actual money spent on the acquisition of an item but on the sacrificed alternative, that is what other items could have been purchased with the same outlay of money.
It is clear to me that the spending of money does not measure up to this important philosophy of spending. I think the Office of the Auditor General should have a value for money audit done on this particular expenditure among others.
Society is poorer for any expenditure that is not in keeping with the norms of transparency, accountability and value for money.

Hydar Ally

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