Public Service Credit Union reopens today

May 30, 2018 News

…with Justice Prem Persaud-headed IMC

Under the control of an Interim Management Committee [IMC], the Hadfield Street, Georgetown office of the Guyana Public Service Cooperative Credit Union Limited [GPSCCU] is set to open its doors today.
This is according to information released yesterday by the Ministry of Social Protection.
Among those making up the IMC are Justice Prem Persaud, the immediate past Chairman of the Public Utilities Commission, who will function as the Officer in Charge.
In addition to being the Officer in Charge, Justice Persaud is also an ex-officio member of the Management Committee.

Justice Prem Persaud

Also named as a member of the IMC are Ms. Patsy Russell, a business consultant with a rich banking background; Ms. Rajdai Jaggernauth, Permanent Secretary of the Ministry of Business; Ms. Gillian Pollard, Deputy Director of the Budget, Ministry of Finance; Mrs. Oneidge Walrond-Allicock, Legal Officer, Ministry of Public Telecommunications and Mr. Patrick Mentore, Human Resource and Training Manager, Guyana Maritime Administration.
It has also been revealed that an Auditor, in the person of Mr. George Vaughn, is appointed to commence work at 08:30 hours tomorrow when the GPSCCU office is set to officially reopen to the public.
In its statement, the Ministry reassured staffers of the organization that their jobs are not in jeopardy, and they are therefore all required to report to work as usual at 08:30 hours too. “They are asked not to be misguided or distracted by any other Agency or person,” the statement added, and “the Ministry thanks them for their understanding and co-operation during the past days and looks forward for their willing co-operation in the future.”
The Ministry’s announcement followed on the heels of a press conference convened by members of the GPSCCU which expressed dissatisfaction over the way that the management of the office was wrested out of their control.
The officials, including Chairperson of the GPSCCU Management Committee, Ms. Patricia Went; its Vice Chairperson, Ms. Vera Naughton and Member Ms. Dawn Gardener, at a press conference on Monday shared their disappointment about the action taken by Chief Cooperative Development Officer of the Ministry to assume control of the GPSCCU.
Not only did they oppose claims of ‘poor performance’ leading to the development, they also intimated that the management committee was being victimized for failing to adhere to an unorthodox demand.
According to Went, “…the matter was rooted in the demand by the Department of Cooperatives for an undue payment to the Audit and Supervision Fund for years 2002-2013 of an alleged balance of $49,691,682”.
Naughton added, “If we were to give $50 million to the Ministry, what would happen to our shareholders? Obviously it will be $50 million short when we are going to look at our dividends, so obviously our members will suffer and this is what we don’t want.”
“We are going to the next step, we are going to sit now and discuss the way forward and [with] our decision, there must be a resolution. Even if it means we have to engage His Excellency (President David Granger) we will go that way,” added Gardner.
But in its statement yesterday, it was noted that “The Ministry of Social Protection has noted with interest the wide publicity given to criticisms and comments made about the decisions of the Chief Co-operative Development Officer (CCDO) to assume control of the affairs of the Guyana Public Service Co-operative Credit Union Limited (GPSCCUL).”
It was pointed out too that “In an earlier Release issued on the day of the CCDO’s intervention, i.e. on the 25th day of May, 2018, the reasons for taking control of the Co-operative Society were clearly spelt out, hence there is little or no need to reiterate them at this juncture.”