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GWI has not provided audited financial statements since 2016 – Minister Rodrigues
Kaieteur News – According to Minister within the Ministry of Housing and Water, Susan Rodrigues, the Guyana Water Incorporated (GWI) has not provided any audited financial statements since 2016.
Former Chief Executive Officer (CEO) of Guyana Water Incorporated (GWI), Richard Van West Charles.
Minister within the Ministry of Housing and Water, Susan Rodrigues.
While making an appearance on a Globespan programme on Monday night, the Minister disclosed the aforementioned. She said, “There has not been any audited financial statement from the company since 2016. Since 2016, no further audits were done under the A Partnership for National Unity+Alliance For Change (APNU+AFC) and under the leadership of Richard Van West Charles.”
Minister Rodrigues then noted that earlier this year, the audit for 2017 was completed and added that they are in the process of completing the audit for 2018.
This publication had reported that during the Globespan interview, the Minister revealed that GWI was in a financial crisis when her government assumed office last year. One of those things she revealed is that the agency had two bank overdrafts which resulted in the company owing the bank a total of $540M.
Moreover, during an interview on Kaieteur Radio, the Minister said, “When we took office, GWI was in crisis, it was bankrupt, it had not received a subvention for five years and so it owed the Guyana Power and Light over $7B…The bank balance for GWI was reduced by $1.8B in five years. From August 2015 to 2020, the operational costs had increased by $1.1B and this was regardless of the two tariff increases, one in October 2018 and October 2019, almost 100 percent it increased by.”
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