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FM
Former Member
Report on all NICIL/PU transactions made public – in the interest of transparencyPDFPrintE-mail
Written by   
Saturday, 12 January 2013 16:11

THE Government has released a report detailing all transactions handled by the Privatisation Unit (PU) and the National Industrial and Commercial Investments Ltd (NICIL) from 1993 to November 2012, putting to rest speculation and a spate of criticisms in sections of the media and the opposition about transparency at the entity.
Copies of the report that recently won approval of the Cabinet were presented to the media following a press conference hosted by President Donald Ramotar at his office yesterday afternoon.
Entitled Privatisation in Tables: Phase 11 (1993 to 2012) the report is a follow up to “Guyana’s Privatisation Progarmme: The Institutional Framework and Results of Phase II (1993 to 2009) report.
Transparency, details of transactions, advertisements, and criteria in determining buyers are all contained in the report which categorises transactions in three parts: Privatisation, Properties (sale or lease) and Restructuring Transactions.
A summary of the transactions from 1993 were highlighted including $25.6B in proceeds, $11.7B of which were paid to the Treasury, $6.4B capitalised and $4.8B paid to NICIL and $2.6B to other entities.
It was reported that NICIL paid almost $13B in dividends to the treasury, inclusive of $2.1B during the period 1991 to 2001 and $10.6B during the period 2002 to 2012.
This recent report follows on NICIL’s compliance with accountability procedures by laying audited accounts in the National Assembly up to the year 2010,  President Ramotar told reporters.
Minister of Finance Dr Ashni Singh has laid in Parliament over 105 sets of accounts for NICIL and its subsidiaries.
A press release that accompanied the reports presented to the media stated that the government has taken note of the “substantial” work of NICIL and the Privatisation Unit, the success of its stakeholder privatisation board, and the net contributions in the area of dividends, taxes, investment and employment.
Such accomplishments have been made minus government funding, except in the case of electricity subsidies to consumers and the National Communications Network programme component, the release stated.
The government viewed the report as a vindication that NICIL/ PU transactions have been conducted in a transparent manner as against the speculations and criticisms that have been making headlines in recent months. (GINA)

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Originally Posted by yuji22:
Originally Posted by Mr.T:

Approved by the cabinet.Not worth the paper it is written on.

What about approved by parliament? And who did the audit?

You are a real dunce.

EweGee wha kinda Poom poom panty response is this ....how come is the man a dunce.

Yesterday u were stuck right up in Rev Crack.....

Rev seh is ok fuh thief.....enjoy the Milk and Honey....and eweG was like lionel Richie....singing....."Stuck on you".

Now after Ramotar seh eee going after all dem thief who stealing the Milk and Honey.....Rev turn around and leggo wan big fart.....and like yGee get blow out de crack....

and eee lef splattered all over de floor and eee basadee.

 

We know Rev prapa fool you......led you up $hit Creek.....wher u got stuck...and den eee just blow u out.

 

Mr T .....uGee cant think straight....look how eee scatter all over de floor...

what type of answer yuh expect from uGee it the state eeee is in right now.

 

 

 

 

 

 


 

FM
Originally Posted by TK:

It would be instructive to note that it took seven years and much protests from the opposition. Let the people now scrutinize these accounts. 

Translation: quick, someone come up with some excuse to start the AFC protest of the report. And call de waterfalls paper.

FM
Originally Posted by Henry:
Originally Posted by TK:

It would be instructive to note that it took seven years and much protests from the opposition. Let the people now scrutinize these accounts. 

Translation: quick, someone come up with some excuse to start the AFC protest of the report. And call de waterfalls paper.

nAHHHH! tHAT'S THE ppp WAY. 

 

As TK said, it took seven years for the records to be produced, this being the case,any project taking seven years to complete must have lots of info to decipher, so why can't the time be taken to peruse these records properly?

cain
Originally Posted by cain:
 

As TK said, it took seven years for the records to be produced, this being the case,any project taking seven years to complete must have lots of info to decipher, so why can't the time be taken to peruse these records properly?

Why is that necessary in order for the AFC to launch a protest?

FM
Originally Posted by Henry:
Originally Posted by TK:

It would be instructive to note that it took seven years and much protests from the opposition. Let the people now scrutinize these accounts. 

Translation: quick, someone come up with some excuse to start the AFC protest of the report. And call de waterfalls paper.

Who is the one speaking of "protest" here?

Did the AFC mention this as yet?

cain
Originally Posted by yuji22:
Originally Posted by Mr.T:

Approved by the cabinet.Not worth the paper it is written on.

What about approved by parliament? And who did the audit?

You are a real dunce.

Yeah, but is not me who was giving head in a gangbang. So watch your mouth.

Mr.T
Originally Posted by yuji22:

Calling Storm. Hello. Hello.

He HE:

 

Prepared by Brazzy, approved by Aswini, audited by Aswini family.  These bandits got it locked.

 

When this report is prepared by an INDEPENDENT AUDIT FIRM, then we talking sense.

 

Right now this is Brazzy Propaganda.

FM
Originally Posted by yuji22:

Calling Storm. Hello. Hello.

Why are you calling out to me? I am not here all the time and when I am I am not obliged to answer every issue.Further, I did not here you calling out on NICIL for a yearly accounting as they are obliged to do.

 

And I am sure this is Hollywood accounting. There will be no line item with associative credits and debits. We would not know how much lenora was sold for, how much was paid down when and how much is due and under what terms. We will not know how a former Guysuco Chairman got 10000 acres of land and how he paid for it. The same goes for every give away at Sparandam where the PPP piggies are building mansions. I bet we would never know how much per year came in from rice and what rate it was exchanged for in return for petrol, where the petrol went etcYes, they will give us summaries leaving the details for plausible deniability on the line items.

 

You will open your mouth like a frog, gulp air and rattle nonsense with no basis in understanding except you want a coolie in power and desire black people out. That has been the same consistently over the years with you and was the reason for our last run in.

FM

THE Government has released a report detailing all transactions handled by the Privatisation Unit (PU) and the National Industrial and Commercial Investments Ltd (NICIL) from 1993 to November 2012, putting to rest speculation and a spate of criticisms in sections of the media and the opposition about transparency at the entity.
Copies of the report that recently won approval of the Cabinet were presented to the media following a press conference hosted by President Donald Ramotar at his office yesterday afternoon.

FM
Originally Posted by Conscience:

THE Government has released a report detailing all transactions handled by the Privatisation Unit (PU) and the National Industrial and Commercial Investments Ltd (NICIL) from 1993 to November 2012, putting to rest speculation and a spate of criticisms in sections of the media and the opposition about transparency at the entity.
Copies of the report that recently won approval of the Cabinet were presented to the media following a press conference hosted by President Donald Ramotar at his office yesterday afternoon.

 Why dont you pick up the book, tell us how much Lenora was sold for, the initial down payment, rates of interest and how much is left on the books? Cabinet approval is a rubber stamp of the crooks in the PPP so it means little.

FM
Originally Posted by Conscience:

THE Government has released a report detailing all transactions handled by the Privatisation Unit (PU) and the National Industrial and Commercial Investments Ltd (NICIL) from 1993 to November 2012, putting to rest speculation and a spate of criticisms in sections of the media and the opposition about transparency at the entity.
Copies of the report that recently won approval of the Cabinet were presented to the media following a press conference hosted by President Donald Ramotar at his office yesterday afternoon.

Did you read Ronald above - prepared by brazzy, approved shattie singh and audited by Gitanjali sing, shantie's dulahin.

 

These chaps like the ali babas now, all the money stays in one family the brazzy-shattie gang of bandits.

FM
Originally Posted by Henry:

It's inevitable, so you might as well get the show on the road.

 

 

it is inevitable that one day a woman will deal with your wayward wife beating child murdering son through the heart Oh Henry a/k Robsen Bennup!

FM

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