The embarrassment over the fish auction

The happy dances being done some weeks ago about N$628 million supposedly ‘earned’ in a government fish auction were grossly premature. There were statements made that "now we know the value of our fish stocks." Comparisons to the over-played investor conferences that generated similar glowingly huge numbers of investments "received" (but were not), are apt. No matter how embarrassing it all has been, it is not the whole story. The first win on this, the egg-on-the-face notwithstanding, is that auctioning the fisheries quotas is a good idea. It should be done permanently. The rules for such auctions, however, must change.…
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