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PNCR has no reservation over Globe Trust/CLICO probe

Jul 06, 2009 News

The People’s National Congress Reform (PNCR) in a press statement, has asserted that none of its executive members were involved in the management of the affairs of the privately owned and managed Globe Trust Company.

The statement comes in response to remarks made by President Bharrat Jagdeo during a recent press conference.

It was highlighted in the statement that President Jagdeo had said that he has no problem with a joint investigation into CLICO (Guyana) and the Globe Trust Company, a position the PNCR claims to share.

In its attempt, to make its position unambiguous, the party noted that it has no difficulty with an investigation of Globe Trust, but expressed amazement that the President seems to be questioning the integrity of the investigations previously undertaken under the aegis of the Bank of Guyana, at the time of the Globe Trust collapse.

Moreover, the PNCR outlined that the way is now clear for the President to undertake his politically convenient investigation into the Globe Trust and the CLICO catastrophe.

“What is astonishing is that President Jagdeo seems to believe his own propaganda that the PNCR has reservations about an investigation into Globe Trust. We sympathise with him if he is distracted by such matters as the revelations in the Roger Khan case and the downward spiral of the economy, but we wish to correct his opinion of the Party on the Globe Trust matter.”

As such, the PNCR underscored that it had never intervened to obstruct or prevent the investigations and other efforts which were spearheaded, under the supervision of the regulatory agency, the Bank of Guyana, save and except to assist and protect the small investor and depositor.

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