Today’s Editorial: Still StrugglingPOSTED: 02/25/11 12:50 PM
That the Corporate Governance Council is working is clear. That it also feels that it can function better is also clear. That latter point however requires that the government and the companies and foundations under the body’s supervision meet their legal obligations.
It is a scandal in our view that the council has had to wait a year to receive funding to cover their expenses and that they’ve had to dig into their own resources to pay costs. It is even more shameful that they’ve had to elevate their case to the highest legislative body in order to get the government and the companies to fulfill their commitments.
This plight reveals that our young country is still suffering with Island Territory syndrome, where things move all together too slowly. Yes, we are a country in development, but guess what the council has been in place since 2010 – so let no one use the excuse that it started with 10-10-10 and this is all new so it will take time.
In fact the Council is now on its third government and none of the parties seem to want to make haste. We can recall our now prime minister saying on more than one occasion that we shall see who wants corporate governance with the passage of the law. From the actions of parties so far – none of them seem to want that kind of supervision, even though it was agreed to on the road to country status.