GAWU concerned about state assets being sold at ‘bottom prices’

Nov 05, 2019 News

After learning through newspaper ads that the National Industrial and Commercial Investments Limited (NICIL)-Special Purpose Unit (SPU) plans to sell state assets from the Skeldon Sugar Estate, the Guyana Agricultural and General Workers’ Union (GAWU) has expressed concerns about the assets being sold at ‘bottom prices’.
According to GAWU, the ad listed the sale of “what are deemed ‘unserviceable’ motor vehicles and motor cycles”. Previously, NICIL-SPU had sold several other items that the sugar estates had placed in its hands. Those included tractors, motorcycles and agricultural implements. What was worrying however, GAWU said, was the low price range at which these assets were being sold.
“The assets disposed of could have obtained superior prices,” the Union asserted.
GAWU also questioned whether the sale prices of the items represented the valuation that was carried out.
“We recall, concerns being raised about the sale of so-called scrap iron from the closed estates. That sale, we understand, brought in a large sum and again it was felt that higher prices could have been obtained. In fact, our Union was made to understand, that one buyer managed who purchased the ‘scrap iron’ at the Wales factory made a hefty profit from the deal,” GAWU stated.
The Union pointed that it was assured by Government that the sale of sugar assets was above reproach and was transparent, but to date, this has not been done.
“Once again, the GAWU has called on Government to stay true to their commitment and ensure that the sale of the sugar assets is transparent and above reproach.”

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