Govt. shares in GT&T up for sale

Aug 02, 2010 News

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“GOG/PU/NICIL is not bound to accept the highest offer and/or proposal” – Ad
The Guyana Government has for a while now signaled its intention to sell its 20 per cent shares owned in the Guyana Telephone and Telegraph (GT&T).
The Privatisation Unit, as agent for the National Industrial and Commercial Investments Limited/Government of Guyana, is currently requesting proposals from firms or individual interested in buying the shares ‘en bloc.’
The deadline stipulated by the Privatisation Unit is 14:00hrs on September 24.
In the invitation for proposals as advertised by the Privatisation Unit, it is pointed out that interested persons must register with that entity after payment of a $15,000 fee.
Once this requirement is met, the interested party will be provided with a Request For Proposal (RFP) document; An Information Memorandum containing general information of the company; a copy of the advertisement (requesting proposal); and a draft sale agreement.
In the last line of the advertisement, in a shaded block, it states, “GOG/PU/NICIL is not bound to accept the highest offer and/or proposal.”
GT&T’s parent company has already rejected the offer to buy Government’s 20 per cent shares in the telephone company.
Atlantic Tele-Network (ATN) at its recent Board of Directors meeting, declined to purchase the shares.
Since 1991, the minority shareholder received zero dividend payment until the year 2000 and since then, the annual amount has fluctuated from US$1M to US$4M, while the company has been reporting skyrocketing profits over the same time.
The Government of Guyana had placed the shares on the market. According to a senior official, this is as a result of the administration’s own fault.
A senior official told this newspaper that the government created the conditions that the investors find unacceptable.
The official suggested that it was akin to advertising a house for sale one day and the following day tear down the fence, and at a subsequent date damage the wall of the building.
According to the official, the bringing in of a fibre optic cable by Government and the liberalisation of the sector among others moves, have created the conditions that are warding off investors.
Many in the political circles have opined that the government is deliberately creating the conditions so that a ‘sweetheart deal’ could be offered to a favoured investor.
In 2008, the government collected $1.5B in taxes from the company and $265M in dividends.
The Office of the President subsequently stated that the decision to dispose of the minority shareholding was based on the fact that the government’s directors have consistently been prevented from exercising any influence whatsoever on the affairs of the company.
Head of the Privatisation Unit, Winston Brassington, during an interview with this newspaper on May 8 last, stated that the telephone company’s financial status is excellent, making it a prime time to sell its shares.
“We are hoping to get a very good value…You value your share based on how much money you can make…I do not believe that any other company in Guyana is doing as well as GT&T,” Brassington had said.
He had stressed that the administration will not ‘give away’ or sell its shares ‘cheaply.’
However, the opposition is calling for an investigation behind the reason why the Government wants to sell its shares in the company.
The Opposition is contending that the real motive behind the selling of these shares is intended to ‘benefit the friends and supporters of the PPP’.

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Dengue fever and its preventions
With all the various fevers circulating, there is a need for society to be informed of the real dangers of  dengue fever,  which is an acute fever caused by a virus.
According to the Ministry of Health, the virus is spread by the bite of an infected Aedes Aegypti mosquito.
The first symptoms of the disease occur about five to seven days after an infected bite.
Dengue occurs in two forms, Dengue Fever, and Dengue Haemorrhagic Fever.

The Ministry stated that Dengue Fever is marked by the onset of sudden high fever, severe headache (mostly in the forehead) and pain behind the eyes, which worsens with eye movement, muscles and joints, and Nausea or vomiting.
Dengue Haemorrhagic fever (DHF) is a more severe form, in which bleeding and sometimes shock occurs – leading to death.
It is most serious in children. Symptoms of bleeding usually occur after three to five days of fever.
According to the ministry, the mosquito rests indoors, in closets and other dark places.
Outside, they rest where it is cool and shaded. The female mosquito lays her eggs in water containers in and around homes, schools and other areas in towns or villages.
Dengue mosquitoes breed in stored exposed water collections. Favoured breeding places are: barrels, drums, jars, pots, buckets, flower vases, plant pots, tanks, discarded bottles, tins, tyres, water cooler, etc. and a lot more places where rainwater collects or is stored.
The Ministry advised that in order to prevent the spread of dengue fever, persons should wear full sleeve clothes and long dresses to cover the limbs.
Care should be taken in using repellents on small children and the elderly.
The ministry is also advising that mosquito nets be used to protect babies, elderly people and others during the day and night.
In highlighting the treatment of dengue, the Ministry advised that water from coolers, tanks, barrels, drums and buckets, etc. be drained regularly.
“There should be no water in coolers when not in use. Remove from the house all objects, e.g. plant saucers and other items, which have water collected in them. Remove water from refrigerator drip pans every other day. All stored water containers should be kept covered all the time. Discard solid waste and objects where water collects, e.g. bottles, tins, tyres, etc,” The Ministry advised.
The Ministry stated there is no specific medicine for the treatment of the disease. However, proper and early treatment can relieve the symptoms and prevent complications and death. ASPRINS SHOULD BE ADVOIDED to deal with dengue fever, as it is known to increase the bleeding tendency and also it increases the stomach pain.
Paracetamol can be given on medical advice. If one or more signs of Dengue Haemorrhagic fever are seen, the ministry is advising that the victim be taken to the hospital immediately, and they should be fed with a significant amount of fluids.

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