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PNCR not against investigation into Globe Trust

Apr 22, 2009 News

The People’s National Congress Reform (PNCR) has said that it is not against the government launching an investigation into the issue of Globe Trust.

In a press statement responding to a letter appearing in Tuesday’s edition of the Stabroek News, the PNCR noted that the collapse of Globe Trust was as a result of irresponsible management by its Directors and the failure of the Bank of Guyana, and by extension the Government of Guyana, to carry out its supervisory function efficiently. 

“The PNCR would have supported an investigation since many PNC supporters lost valuable resources. In fact, the PNC provided legal representation to many persons affected by the Globe Trust collapse. The PNCR has always represented the working class and persons whose interests are threatened,” the statement noted.

The PNCR challenged the writer of the letter, Mr. Roshan Khan, to provide the evidence that illustrates that the PNCR is being defensive about Globe Trust.

According to the statement issued by the opposition party yesterday, PNCR leader Robert Corbin has stated on many

occasions that the PNCR had no objection to any investigation into Globe Trust.

However, the Party was of the view that President Jagdeo, who could have ordered such an investigation years ago, was now using this as a  red herring to avoid the establishment of a Commission of Inquiry into CLICO (Guyana), at a time when Guyanese tax payers money was being committed to its rescue.

“The PNCR has taken a consistent position in relation to the CLICO issue by calling for the establishment of a Commission of Inquiry and an investigation into the CLICO debacle.

“It is the Government which seems bent on undermining such an approach,” according to the PNCR statement.  

The party noted that it welcomes any measure that would seek to guarantee that policyholders and depositors are compensated. 

The PNCR is now requesting that Mr. Khan acknowledge that his letter is a misrepresentation and apologise for his remark.

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