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November 06, 2011 03:26:24 PM
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The Fiji Council of Social Services has called on the government to close the National Centre for Small and Medium Enterprise Development (NCSMED).
The council has made the call in its 2012 budget submission. According to the council, NCSMED has not done anything useful to support and promote the Micro Finance Institutions in Fiji The council said in its submission that NCSMED, had been malfunctioning in its management of Micro Financial Units (MFU’s) in the west and north. “This is unnecessary drain of money that could have been well utilised if funds were given directly to the MFUs. As no funds were given to the Centre in the last budget, it used money that was allocated to the MFUs for its own survival and have still not been able to deliver,” The council further went to state in its submission that the Reserve Bank of Fiji had been given the job of regulating the micro finance sector, making NCSMED redundant. By Tevita Vuibau * Get local and international rugby news & live updates/results on your phone. Txt VRUG to 333 now.
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