Int’l help for crack unit targeting stolen state assets/monies - Harmon

Int’l help for crack unit targeting stolen state assets/monies – Harmon

Jun 09, 2015 News

– Hundreds of billion$$$ siphoned off every year

The figures are alarming. More than double the country’s national budget was methodically being siphoned off in a well coordinated scheme using contractors and other means.

Minister of State, Joseph Harmon

Now the new Government, under pressure to recover the monies, is going after those monies, or at the very least the assets tied to them.
It is estimated by the World Bank that almost $500B was being stolen annually.
On Saturday, Minister of State, Joseph Harmon, speaking to state media, made it clear that the issue is not about witch-hunting as is being claimed by the Opposition- the People’s Progressive Party/Civic (PPP/C).
“We call it cleaning up Government. It is about making people more accountable.”
Already, the new A Partnership For National Unity/Alliance For Change (APNU+AFC) coalition Government is on its way to establish what it calls the State Assets Recovery Unity (SARU).
The issue of corruption and bribery had been a major one in recent years with both APNU and AFC, while in Opposition, promising a host of interventions to reduce theft by public servants and by extension contractors.
SARU, in keeping with promises of the new administration, will likely be independent, away from the political direction of the administration.
It is likely to comprise representatives drawn from the Guyana Bar Association, the business community and the Guyana Human Rights Association. It will be reporting directly to the National Assembly.
Harmon, who is in charge of the Ministry of the Presidency, disclosed that the establishment of SARU is but part of a multi-pronged approach to stamp out graft. The unit will have sweeping powers.
Recent reports where several vehicles belonging to the state were transferred under questionable circumstances the week leading up to the May 11 elections will be one of the areas that the unit will be zeroing in on.
The new administration, Harmon said, will also be looking to also carry out audits of state companies.
The decisions were all taken last week during the first full meeting of the new Cabinet.
Already, the Ministry of Finance has started the process of transferring monies lying in several accounts outside of the central account, the Consolidated Fund.
Minister Harmon disclosed that work of special unit may very well see it targeting even those assets that are overseas.
Government is linking up with international organisations and looking at models of similar units that have been established abroad. Help has been offered.
According to Harmon, recently well-known economist, Dr. Clive Thomas, said that the he believes around $300B is being siphoned off annually. However, a World Bank report put this to be around $500B.
The figures would have significance if it is taken into account that last year’s national budget was $220B.
If even of 10% or 20% per cent of what was taken over the years is recovered, it will go a far way to assist the economy, the Minister said.
“That (SARU) is a work-in-progress. You will hear more about it in the coming weeks,” Harmon promised.
He warned that while the expectation by citizens will be to have things happening more quickly, the issues have to be considered carefully with the implications assessed.