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NICIL controls revenue of several major govt. entities
– Guyoil, NCN, Chronicle, GNCB, Linden Electricity Co. GNSC etc.
As of December, 31, 2003 the National Industrial and Commercial Investments Limited (NICIL) now headed by Winston Brassington and Marcia Nadir-Sharma owned and controlled several major companies. They also controlled monies earned from the Privatization Unit.
Money accrued to the Privatization Unit is earned through the disposal of State Assets and would include revenues earned from transactions such as the sale of the Sanata Complex at Industrial Site. This asset was acquired by Queens Atlantic Investment Inc.
The Subsidiary Companies that NICIL controls include The Guyana National Newspapers Limited, publishers of the Chronicle, NCN, GUYOIL, National Edible Oil Company, Guyana National Printers Limited, Linden Electricity Company, and Guyana National Shipping Corporation. It has shares in several other companies including Guyana Stockfeeds Limited among others.
Brassington has argued that the money controlled by NICIL is less than the $50B being bandied about and has promised to come clean on the accounts.
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