The nation needs an update on that US$5 owed to NICIL

Jan 09, 2017 Letters

Dear Editor;
The A Partnership for National Unity (APNU) and Alliance For Change (AFC), while in Opposition, alleged repeatedly, that National Industrial and Commercial Investments Limited (NICIL) was used by the PPP/Civic Administration to hoard billions of dollars and to siphoned off a way from the treasury billions of dollars.
The Minister of Finance cannot now make the vacuous statement that “NICIL not as rich as it used to be” (Kaieteur News headline). As the custodian of public funds, the Minister must now explain to the public to where have the billions, which were allegedly hoarded by NICIL under the PPP/C Government gone.
Since the Minister is speaking about NICIL and it’s not too rich a status, the Minister ought to also update the nation on the status of the US$5M owed to NICIL for the sale of the GT&T shares. The time for the payment of that sum of money under the agreement by which those shares were sold has long expired. The nation needs to be told what steps, if any, are being taken by this administration to recover those monies. During the 2015 budget debates, the Minister had promised to transfer all these monies into the Consolidated Fund. In fact, this was also a major platform promise made in the elections campaign by the APNU+AFC.
Nineteen months after, the Minister ought to account to the nation how much money have been transferred from these account to the Consolidated Fund and if all the monies have not been transferred as he promised, he must give the reasons why he is breaching his own promise.
Anil Nandlall

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