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Govt. 20% shares in GT&T should go to tender
Dear Editor,
The long overdue day of rescinding has finally arrived for GT&T and its parent, Atlantic Tele Network (ATN) and Guyanese will now officially be told of the nefarious illegitimate creaming of six percent of earnings and robbing the nation by these combined telecommunication companies.
This particular correspondent has previously and consistently condemned the original sale agreement between the then Hoyte/PNC government and ATN, describing it as a sweetheart deal.
The price, to use an American synonym, was a steal, that six percent off the top was intended to be disbursed, amongst certain individuals apart from ATN and including the Guyanese who introduced the very ATN to the then President Hoyte.
It was a shameless and avaricious deal indeed. This is what government representative Winston Brassington had to say on the six percent advisory fee: “He said that government views the advisory fee, which is quite significant, as a distribution. Within the last five years, Brassington said, over $5B in advisory fees has been paid, averaging over a million dollars per year.”
The government’s 20% shares should be exposed to international tender.
David DeGroot
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