Parastatal bailouts unhealthy

THE bailing out of parastatals is not healthy as it is defeating the very purpose of their existence, Swapo MP John Hakaye said yesterday.

Contributing to the debate on the 2004/05 Appropriation Bill in the National Council, Hakaye said: “These parastatals were established to make profits and give returns to government coffers but to the contrary they are bailed out every year.” Air Namibia is among the parastatals, which have been bailed out by Government several times since independence. He commended State-owned companies, which are doing well, singling out Telecom Namibia, NamPower, for powering the nation and NamWater for trying to provide water to the nation particularly in rural areas.-NampaHe commended State-owned companies, which are doing well, singling out Telecom Namibia, NamPower, for powering the nation and NamWater for trying to provide water to the nation particularly in rural areas.-Nampa