AFC uncovers “secret” US$25M bank account

Apr 14, 2013 News

…signatories are Brassington, Burrowes

Ahead of tomorrow’s talks with Government to stave off a $38B cut from the National Budget, the Opposition has accused the administration of hiding almost $5B (US$25M) in a bank account under the control of Winston Brassington, the controversial head of the Privatisation Unit.
The monies at the Guyana Bank For Trade and Industry (GBTI), according to Khemraj Ramjattan, Leader of the Alliance For Change (AFC), can be used to pay public servants a much-needed increase in wages and salaries.
Both opposition parties, AFC and A Partnership For National Unity (APNU), which control a one-seat majority in the National Assembly, are determined to slash excesses from the National Budget and on Friday said that they are willing to talk with Government before Monday’s afternoon considerations of the estimates.
Ramotar has agreed to meet with the parties tomorrow at the Office of the President.
Regarding the bank account, Ramjattan said that a whistleblower disclosed that Brassington and Keith Burrowes, an official close to the government, are the main persons controlling the bank account at GBTI.
“We are being told by a reliable source…a whistleblower…that the account has $4.9B in it in the name of National Cooperative Financial Services. AFC is extremely concerned about this since nowhere has the government told the National Assembly that it has (this money) sitting in an account.”
The National Assembly is the authority that scrutinizes and releases spending from the Consolidated Funds, where all public monies are held.
According to Ramjattan, the $4.9B would represent some of the proceeds from the divestment of GAIBANK and the Guyana National Cooperative Bank.
“The Government is telling us that it will have no monies if we reduce the wastage. Well, the AFC wants to tell them that there is $3-4B also sitting in the accounts of the Guyana Geology and Mines Commission (GGMC). The National Assembly again don’t have control over these funds that belong to the people of Guyana.”
The Opposition has been fighting tooth and nail with Government for several billions of dollars which lie in several accounts and are controlled by a number of semi-autonomous state agencies, including GGMC, the Guyana Forestry Commission, NICIL and GuyOil.
They have been arguing that the monies are public funds that should fall under the oversight of the people’s representatives –Members of Parliament. However, government has been unwilling to budge from its position.

Keith Burrowes

Brassington has been a shadowy figure overseeing government’s controversial privatization deals to the tune of hundreds of millions of dollars.
There are still many questions where some of the privatization proceeds went.