to the port authority. the air space is now free and anybody planning to erect a high - rise building in the formerly restricted four degrees sight band should have no problem to obtain permit from the port authority. wind tunnel tests were carried out in france to test the building against wind forces with a speed of 275 km / hr. this required that the stone cladding and the curtain wall with glass, aluminium members and fixings thereto constructed in stainless brackets resist pressure and suction forces in the order of 2 / 3 of ton per square metre. this means moving weight of 8 average bodied persons standing on an area of 1m x 1m. total cost of the building, inclusive of fit outs and furniture, is expected to reach rs1, 890, 700, 000 of which rs234 million went to the exchequer in the form of vat. at constant 1980 prices, the year when one of the first high rise buildings appeared in the port louis skyline, the cost of this building excluding vat works out to rs395 million. at constant 1994 prices, the year when yet another high rise building appeared in the port louis skyline, the cost of this building excluding vat works out to just over rs1, 010 million. this building, taking into consideration that it is an intelligent building, is indeed the least expensive high rise building in port louis. before concluding, let me, on behalf of the board of directors of the bank of mauritius and on my own behalf, thank the mauritius commercial bank ltd. for having allowed us to use the mcb building for the installation of the sector navigational lights. thank you.

he may indulge in his new hobby in our tranquil waters. you are most welcome tito : it is our honour to have you with us. but, i am afraid, in this open and liberal economy we offer no “ free lunches ”. so we are going to ask you, a little later, to sing for your supper. but first, on a sombre note, may i ask you to remember our good friend and colleague, anil gunness, late ceo of the state bank of mauritius, assassinated in november 2008 in the mumbai terrorist attack whilst on official duty. his death has been a great loss to us, a terrible tragedy for his family and a mark of the uncertain times in which we live. he was a man of integrity at the height of his powers, much loved and respected by all he met. so let us not allow the assassins their victory and, in this moment of reflection, let us recall the words of dylan thomas : “ though lovers be lost, love shall not, and death shall have no dominion. ” let us rise and observe a moment of silence in his memory... thank you. many of us here, last met in similar convivial circumstances in 2007, for the 40th anniversary of the central bank. since then much has changed. the greatest economic and financial crisis of our generation happened. indeed, it is still with us. so let us take time to reflect on the last two years and try to look forward to our role in the pursuit of our prime minister ’ s challenge of maurice ile durable. but as we do so, there is just one thing ahead, of which we can be sure, in the immortal words of yogi berra, the us baseball star : “ the future ain ’ t what it used to be! ” this is not the moment to go over the now well - documented blowing away of so many star players in the western banking system and its knock - on effects in the real economy. that is all available in the roaring paperback trade ; and those failed econometric models are just today ’ s pulp fiction. so as an economist i agree, somewhat with hindsight, with kenneth boulding, another economist – whose textbook guided my first steps in the field and figures among my most - prized possessions. boulding succinctly expressed what many others have been thinking too : “ anyone who believes that exponential growth can go on forever in a finite world is either a madman,