Opposition calls for resumption of tripartite talks
May 11, 2012 By Leave a Comment
The Alliance For Change (AFC) and the A Partnership for National Unity (APNU) are calling for the resumption of tripartite talks with government.
NICIL not a pot of gold – Dr Luncheon
May 10, 2012 By Leave a Comment
Though the National Industrial and Commercial Investments Limited (NICIL) chairman, Dr Ashni Singh cannot readily make available the amount of money in the entity’s coffers, he has sought to assure the public that there is nothing sinister occurring as it relates to the money acquired by the company over the years.
At a media briefing held on Wednesday, Dr Singh reiterated that NICIL’s operations are governed by the Companies Act and has been managed, according to the stipulations therein. The company’s accounts, he added, have been audited by the Auditor General, and it has made public details of every private sector transaction. He dismissed the arguments being put forward by the combined opposition that suggests that there must be a reason why government is concealing the exact amount of money sitting in NICIL’s accounts.
“Their arguments cannot withstand the first round of scrutiny,” Dr Singh told reporters at the National Communications Network (NCN) studios. He said the $50 billion that is being peddled in the public domain by some who perceive themselves to be commentators, as being in NICIL’s accounts lack credibility and there is no evidence to support the claim.
Asked what the current figure stands at in NICIL’s accounts, the finance minister said: “I am not in a position to tell you how much”, noting that “[it is] not near $50 billion”.
Meanwhile, head of the Presidential Secretariat, Dr Roger Luncheon said that NICIL Executive Director Winston Brassington will soon brief the media, noting that all concerns on the issue will be addressed then. He, however, defended the government holding company and those that manage it, stating that “The numbers speak to different matters and I have absolutely no difficulty in identifying that $50 billion in liquid cash in the coffers of NICIL is a figment of Ramjattan’s imagination or whoever said that… Much of these concerns will soon be fully properly and adequately addressed by Mr Brassington…”
Dr Luncheon added that the notion that there “is a pot of gold with $50 billion inside sitting somewhere in the bank account of NICIL is just a figment of an imagination”. Dr Luncheon said one must examine the articles of association of NICIL, as “much of what is happening is just the hijacking of reason and the pursuit of political endgames”. He said too that there are 25 to 30 different articles that say what NICIL can do, what it cannot do, when it should do it, and how it should be done. “I want to believe that the sum total of those articles is being hidden in this discourse, those who are trying to foist on the public all of this hype about NICIL and a slush fund patently are refusing to bring to the public’s attention those articles. I think when we are more comfortable on what is provided for in the articles of association, I then believe we can really sit down across the table and talk about NICIL and its future.” Dr Luncheon added that ignoring the articles of association proves a waste of time and illustrates the “pandering to the gimmickry of Ramjattan and his acolytes”.
He added that it is wrong for one to start out or “pander to this notion that there is some wickedness, something criminal that is going on that is preventing these audited reports, financial statements being provided in the time identified in the Laws of Guyana”. Dr Luncheon, like Dr Singh, could not as a member of the NICIL board provide the media with the amount of money sitting in the entity’s coffers. “I can’t say that – I know it is nowhere close to no $50B…$50B is monkey business,” he told the media.
PNCR has not lost any weight since joining APNU
May 8, 2012 By Leave a Comment















