Is NICIL guaranteeing G$5,400M to fund construction of the Marriott Hotel a private investment?

May 20, 2012 Letters

Dear Editor,
We have only released a small subset of the information at the disposal of the AFC on the Ponzi scheme called NICIL and the taxpayers can immediately get an insight that the figure of G$50 billion is a real number that the NICIL Board is trying its best to evaporate from the minds of the Guyanese people.
NICIL is a government company with an estimated $50 billion in public assets and taxpayers have a right to know what has become of their money. Does NICIL Board really believe that the people are buy their “cock and bull story” that the government is not doing anything illegal by having the $50 billion of taxpayers’ money aimed at underwriting private investment like the Marriot Hotel Project?
The mistrust has reached such a level that until and unless audited accounts with a full listing of all revenue between 2004 to 2011 are released, nothing coming from the Board of NICIL can be treated as credible information. The people want to know where this G$50 billion is invested and if these investments have been sanctioned by the representatives of the people in the Parliament, the real owners of the funds?
We are urging the NICIL Board to come clean and tell the people the truth about the missing $50 billion of taxpayers’ money and work with the majority in Parliament to invest these fund in national assets like a transportation link between Linden and Lethem rather than in a multitude of private investment to benefit key players in the Jagdeo cabal.
Anything else is a recipe for continuous confrontation between the people and the PPP.
Dr Asquith Rose and Sasenarine Singh

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