The commissioner of the National Commission for Privatisation (NCP), retired Major Abdul Turay, has endorsed the call for closer coordination by decision makers.He emphasized this point at the close of a three-day high level technical meeting organized by the government at the Kalleone Entertainment Complex, Hill Station in Freetown.
At a round table discussion on fiscal and monetary policy to support development and growth in post-conflict Sierra Leone, Mr Turay compared the central bank and the ministry of finance to a pair of scissors which, he said, should always work closely.
On the informal sector, he disclosed that these needed to design a means of sourcing information as a basis for lending by banks, and called for more cooperation among the banks in the interest of syndicated banking.
The deputy minister of finance, Sana B. Marah, told the gathering of experts that, “we should all come together [as] the onus does not rest on government alone to get the private sector moving”.
Participants also made strong pleas for reforms of commercial banking, and encouraged banks to offer incentives for greater government participation.
At the end, the forum seconded an impressive list recommending actions for restructuring of the financial and private sectors.
The meeting attracted privates’ sector development experts from the diaspora, local private sector and the international community working with the government of Sierra Leone.