GOVT MUST DO BETTER

Sir,

Basically we are raising a society of peasants, in which crime will thrive as they try to fend for themselves and their children as it is not possible to delay starting families as a result of lacking means of living. Actually, experience has proved that people living in abject poverty and unemployment have a tendency to have more children. The reason why we have high unemployment levels is because the economy is not creating enough jobs. I know that one of government’s social responsibilities is to help in creating jobs whether directly or indirectly.

Challenges

The private sector also has its challenges in doing this, owing to a sluggish economy, and currently the high interest rate regime that makes borrowing to fund capital requirements costly. Apart from that, there is also the acute difficulty of raising capital to start ventures or grow them, owing to the acute risk aversion practices adopted by financial institutions. If anything, the noble purposes for extending credit to small businesses has been overtaken by a huge desire for profitability.

Fail

In the end, many ventures fail to take off for lack of capital to start business and or grow business by way of working capital. And as a result, the small businesses, the magic in the creation of jobs, just cannot deliver on this. In this nation, we hear of jobs in the pipeline as government continues its crusade to hype people, sadly those jobs never come. I still believe government can do better in this. As I conclude, I am convinced that unemployment is our worst enemy compared to the virus as unemployment cannot be cured or prevented and it affects far more people. If it is not dealt with accordingly, unemployment will not stop with the current generation; but it will extend to other generations to come; and government must of necessity tackle it with the tenacity it does with other pandemics or disasters.

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