Call for official investment scheme for the public

National 2 minutes, 0 seconds

BANDAR SERI BEGAWAN

THE government should introduce authorised investment schemes for the public to help boost Brunei's finances and keep the population from joining "get rich quick" scams, a district representative suggested during yesterday's State Legislative Council sitting.

"Are there any plans to establish specific investment schemes, which can be participated by the whole population of this country, regardless of whether they are currently serving the government, have retired or the public at large?" asked Brunei-Muara representative Hj Bakar Mansor.

The district representative pointed out that such legitimate schemes have been implemented by neighbouring countries.

"I am confident that with the existence of such schemes, the population will not only have the opportunity to join in and invest, but will also give them confidence because this scheme is authorised by the government," he said.

Hj Bakar recalled that in 2008, the population was reminded of the dangers of "get rich quick" schemes. In the consecutive year, the population was once again "shaken" by a scheme which was operating in the country to attract "customers" from this country to the point that a number were tricked into joining such schemes, he added.

Last year, investigations were launched against Pan Phoenix Dina (B) Sdn Bhd that was accused of "illegally taking, accepting and receiving deposits from the public, with the guarantee of high returns within a contractual period", a past Ministry of Finance statement said. An arrest warrant was also issued for one of the company's three directors, Hasri Mohd Noor, after he failed to appear for a court hearing.

In the same regard, Hj Bakar lauded the ministry for its quick action to educate the public on the dangers of such lucrative schemes.

Keeping in context with the people's welfare, the third day of the sixth Legislative Council (LegCo) session yesterday also saw another member raise the ongoing issue of job vacancies in the government.

Dato Paduka Hj Puasa Orang Kaya Seri Pahlawan Tudin said that the filling of vacant posts should be expedited by reviewing the intake process of employees.

"There are some posts that have been vacant from not only last year, but from the previous year and is until now still vacant; whereas the number of people that apply for employment (with government) is large," he said.

The Brunei Times