A PROSPEROUS SEYCHELLES

AT the moment there is much outcry in the country on account of the abrupt rise in the price of fuel. Everybody who follows international development will know that the price of fuel oil and gas have gone up drastically over the last few months – bringing extra billions of dollars to the already petro-dollar rich Nations whilst impoverishing the great majority of Nations who have no energy fuel of their own. The Seychelles, of course, falls in the latter category and there is nothing Government can do to lessen the cost of these essential commodities. However, if Government procurement of cheap fuel this is a situation entirely beyond its control. There is one important avenue which Government should follow in order to bring prosperity to the Nation and within the process subsidise the price of fuel in order to minimize the ongoing pressure on the consumers.

In this case, one avenue which is opened to us is the gambling industry.

Once upon a time, the SPPF Party was dead against gambling and there was no casino at all in the country. But then the Rene’s Government decided to open-up the gambling business in a monopolistic manner more or less under the control and interest of Dr V. Ramadoss. Today, Dr. Ramadoss, a naturalized Seychellois from south India, has become a force within the country, and is able to project seeming generosity by making large donations to various benevolent and or charitable organizations through profit derived from gambling.

The Seychelles Government which appears to be impressed in the way the Government of the People’s Republic of China runs China today, should take note of the great prosperity which the Government and People of Macao enjoys today through the gambling industry. When the Venetian Macao Resort Hotel opened last week, it took the title of the world’s largest casino. But its 51,097 square meters of floor space is not Macao’s only big number. Seventy percent of Macao’s Government revenue comes from taxes paid by the gambling casinos. 26 new casinos have opened-up since the old monopoly system ended in year 2002. In the second-half of 2007, the Macao’s Government generated more than 2.43 billions of dollars of revenue through these casinos. At official rate of exchange prevailing in Seychelles, the Macao casinos have brought in an estimated 15 billion rupees of revenues within only six months.

Putting the interest of Seychelles above all, the Government must seriously consider the Macao’s example so that we have not only sufficient finance for the recently conceived University of Seychelles but also sufficient fund to subsidise the price of fuel which an average consumer cannot sustain against the level of his earning.