So the Permanent Secretary for Finance (PS Finance) exercised his powers under the Financial Management Act, 2004, and authorised the balance of funds amounting to $18.5m to be kept by Vodafone and Digicel in their respective wallets.
We know that individuals who use these wallets and have funds in them are not paid any interest; however, they pay a fee for cash withdrawals, that is pay to use their own funds.
If the unused funds were retrieved by the ministry and placed in a term deposit, would it not yield a return? Or did it?
What kind of stewardship is PS Finance practising?
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