Govt did not heed warning


The Government was forewarned, through this column some six months ago, on the possible hyper inflation being triggered due to policy restriction on the future restrictive use of fossil fuels under the COP26 pledges within and beyond the Coronavirus (Covid-19) period.
Now that it has been triggered, the prices of fossil fuel is sky rocketing as oil producing and exporting countries are cornered to maximise their gains within that climate policy space.
A call made to the Government for fuel subsidy by using fraction of Covid loan funds has gone begging. It is so sad that the politicians and technocrats have failed this country big time to play to the agenda of the few affluent global corporations to sell their so called artificial energy source to keep all third world countries in extreme poverty.
There will be no commodity markets for third-world countries to sell coal, oil and gas to earn tax revenue for the Government to sustain their economies in the delivery of goods and services to its underprivileged communities is an unfolding reality.
The best option for the Government is to have a mixed policy to accommodate the mainstay of fossil fuel to generate enough reserve funds into the sovereign wealth fund within 2022 and 2050 to flex its muscle to drive its own climate change agenda to act locally to build a resilient green economy .

Galaxy Spencer
Observer NCD