Originally posted by robertteh:
Up to now after Mr. Nathan has taken over the office he had not shown an interest in bringing the elected presidency a more effective check on our reserves.
Where is our monies? When there is no accountability and transparency in the system, People will always be asking Mr. Nathan like they have asked in NKF reserves, what happen to their monies.
Unfortunately, the presidential portfoilo does not include auditing our nation's reserves.
We must draw a distinction between national reserves and reserves built from charity.
With NKF, accumulation was down to public goodwill and therefore how much the reserves are amassed ultimately guide the working principles of the organisation and whether or not they are self-sufficient over the forecasted number of years; this in turn serves as a 'notice' to doners to 'cut-back' on donations.
With SG's own fort knox, it is the contribution of taxpayer's monies which is required BY LAW. How much of it DOES NOT dictate our subsequent tax declarations, nor should the govt serve rebates because they are cash-rich.
You can't run a country's administration by being generous.
That's a fact of life.