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Business: Health Business: Prime Minister condemns >> Pg 3 border jumping Health: Letšeng Mine intervenes as drought >> Pg 9 adversely impacts lives R30.00 / US$2.00 National MTB Championship on in December News you can use >> Pg 23 THURSDAY Nov 26 - Dec 2, 2020 Tel.: 266 2232 5494 | [email protected] | [email protected] | Est. 2017 ECONOMY SINKS BEFORE REBOUND Textile, mining sink economy Lesotho’s economy sink by 6 percent before it is expected to rebound in the 2021-2022 by just 4.33 percent >> Pg 2 Opportunities don't happen, you create them. ~ Chris Grosser. Metro News, Florida Industrial Park, Ha Hoohlo, Maseru. P.O.Box 14129, Maseru 100, Lesotho. Daily Specials Monday Tuesday Wednesday Thursday Friday Grilled Lamb liver & pap M40 1/4 Chicken with chips M40 Beef stew with M50 Hake and chips M50 wings with chips M55 pap or rice * Specials Valid only on weekdays, From 11am to 4pm Call Us on : 22320041 / Whatsapp 58181853 / Follow Us on Thursday, November 26, 2020 2 NEWS On This Day in Four babies are born Economy sinks before rebound every second History Not one to shy away from the public course during happy and sad moments, the Matekane Group of Companies (MGC) Every second, we welcome four saw Coronavirus as another public enemy to be fought within its usual social responsibilityF drive,ast albeit this time the 1950 • pandemic is a global crisis. When the company new babies into our overall Textile, mining sink economy led by Chairman Sam Matekane donated 3 000 face masks and 40 containers of 25litre hand sanitizers worth M250 000, it was just an appetiser. The main course did not take long Chinese counterattacks in Korea beforeF it landed.A A M30C millionT upgrades of population. Do a little math government laboratories to enable testing of suspected coronavirus cases which came in the form of equipment that would and you'll find out that means allow the health ministry to run a change nature of war • Lesotho’s economy sink by 6 percent before it is expected to minimum of 1 000 tests per day. there are approximately 250 In some of the fiercest births each minute, 15,000 each fighting of the Korean rebound in the 2021-2022 by just 4.33 percent hour, and 360,000 each day. In a full War, thousands of year, there are around 131.4 million communist Chinese babies born on Earth, according to the Ecology troops launch massive NEO SENOKO Global Network. counterattacks against [email protected] U.S. and Republic of Korea (ROK) troops, Jargon driving the Allied forces MASERU - The textile and mining before them and putting industries - the two pillars of domestic an end to any thoughts economy, are the main reasons behind the 6.0 Buster for a quick or conclusive Budget U.S. victory. When the counterattacks had been stemmed, percent economic slump as projected by the U.S. and ROK forces had been driven from North Korea and Central Bank of Lesotho (CBL) for the 2020 In a financial planning context the word 'budget' the war settled into a grinding and frustrating stalemate for fiscal year. (as a noun) strictly speaking means an amount of the next two-and-a-half years. The two industries are among some of money that is planned to be spend on a particular In the weeks prior to the Chinese attacks, ROK activity or resource. This is typically over a trading and U.S. forces, under the command of General Douglas the primary contributors to the country’s MacArthur, had succeeded in driving deeper into North economy with mining, which is dominated year, although budgets apply to shorter and longer periods, and may refer to costs allocated to projects Korea and were nearing the border with the People’s by diamonds, accounting for 5.7 percent of of flexible timescales. An overall organizational plan Republic of China (PRC). The PRC issued warnings that the GDP in 2019. Allied forces should keep their distance, and beginning in usually contains the budgets within it for all the October 1950 troops from the Chinese People’s Liberation The textile and clothing industry on different departments and costs held by them. The Army began to cross the border to assist their North Korean the other hand is the largest private sector verb 'to budget' means to calculate and set a budget, ally. Their numbers grew to around 300,000 by early employer, with more than 40 000 people although in a looser context it also means to be November. employed in the industry as of the first careful with money and find reductions (effectively quarter of 2019. by setting and maintaining a lower 'budgeted' or reduced level of expenditure). Directory Both industries have been hard hit 1. Child Helpline: 80022345 by the COVID-19 pandemic, which led to a 2. Crime Hotline: 22313337 significant drop in production. Dreams were 3. WASCO : 22262000 shattered and poverty rose to new standards 4. LEC: 52100000 Cracks 5. Police Station: 22317262 as thousands of people lost jobs in the textile 6. Airport: 22350777 and mining industries. Why I did not show up for work 7. MRTO: 2232 5494 On November 24, the CBL Monetary 8. Ombudsman: 22316425 9. Metro News Tips: 2232 5494 Policy Committee (MPC) warned that Central Bank of Lesotho governor Dr Retšelisitsoe Matlanyane This is why I didn't show up for work yesterday. I was 10. Border Control: 22325740 domestic economy is projected to contract cleaning out my wife's grandpa's cellar and found by a revised 6.0 percent in the last part 2020, food and non-alcoholic beverages as well as year ending June 2020. 12 bottles of his home-bottled grape wine under the due to the economic fallout of the COVID-19 clothing and footwear,” Dr Matlanyane added. “The current account balance steps. My wife told me to empty the contents of each Essentials and every bottle down the sink, or else. I agreed to do In terms of the outlook, the revised worsened on account of an increased Registration Fees pandemic. the unpleasant task. • Motor cycle solo with engine of cylinder in capacity “The output contraction is expected to annual inflation rate is projected to register deficit on the goods account as imports I withdrew the cork from the first bottle not exceeding 350 cc will cost M100 a revised 5.0 percent this year before rose faster than exports. Consequently, the • Motor cycle solo with engine of cylinder in excess of be led by a decline in economic activity in the and poured the contents down the sink, with the 350 cc - M150 textile and clothing industry, construction increasing to 5.2 percent and 5.3 percent in gross international reserves as measured exception of one glass, which I drank. I extracted the Motor Vehicle License Fees as well as mining industry,” CBL governor 2021 and 2022 respectively. in months of import cover, declined to 4.1 cork from the second bottle, did likewise, and drank • Motor Vehicle License Fees motor cycle with engine Dr Retšelisitsoe Matlanyane said when Money supply, as measured by M2, months from a revised 5.9 months in the one glass, just to check the taste to see if the old fellow knew his wine making. He did. capacity not exceeding 350 cc -M100 announcing the MPC statement. increased by 4.3 percent in the third quarter, previous quarter despite a moderate increase • Other motor vehicles for the first vehicle - M1 000 I then opened the third bottle, and poured it, too, • For every additional vehicle other than a motor cycle - In the medium term, the CBL governor following a decline of 0.7 percent in the in official reserves,” the governor further down the sink, but not until drinking one full glass M500 allayed fears, revealing that the economy is second quarter. showed. to check the purity. It was very good. I did this, also Motor vehicle, trailers and construction projected to recover gradually and grow at an The increase, according to the CBL, was Having considered the Net International with the fourth bottle. One glass for myself, and the equipment clearance fees: average rate of 4.33 percent over the period due to a rise in net foreign assets and net Reserve (NIR) developments and outlook, rest down the sink. I pulled the bottle from the cork • 0 - 750 kg: M150.00 of the next, and drank one sink out of it and threw • 11,501kg and more: M1 600 2021-2022. domestic assets. regional inflation and interest rate outlook, the rest down the glass. I pulled the sink out of the Examination fees for roadworthy certificates: While the recovery is conditional on Private sector credit improved by 2.1 domestic economic conditions and the next glass and poured the cork from the bottle, then • Motor cycle not exceeding 350 cc - M200 percent in the quarter ending September global economic outlook, the MPC decided developments related to the COVID-19 corked the sink with the glass, bottled the drink and • Other motor cycle, tractor or trailer - M200 2020, compared to a decrease of 6.1 percent to increase the NIR target floor from US$540 • Light motor vehicle - M220 containment, Dr Matlanyane said it was drank the pour. • Heavy commercial vehicles - M300 likely to come largely at the back of a strong in the quarter ending June 2020. million to US$ 635 million. When I had everything emptied, I steadied • Vehicle examiner’s prohibition for vehicle’s Un- rebound in the mining and construction Moreover, the current account The NIR target remains consistent with the house with one hand, counted the bottles, corks, roadworthiness - M350 industries.
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