THE Guyana Privatisation Unit has condemned the claim by AFC leader Khemraj Ramjattan that there is almost $5B in a GBTI account under the control of its Executive Secretary and Head Winston Brassington and Government official Keith Burrowes. In a statement last evening, the Privatisation Unit said “these claims are blatantly untrue and unfounded,” and is “another mischievous attempt by Mr. Ramjattan and the Kaieteur News to fabricate information for cheap political and journalistic purposes.”
The Kaieteur News published an article in its April 14 edition under the title, “AFC Uncovers ‘Secret’ US$25M Bank Account” . The article claimed a “whistle blower” furnished Mr. Ramjattan with the information pertaining to the account which is listed under the ‘National Cooperative Financial Services’. 
But according to the PU, there has never been such an account managed by the entity. 
“If any evidence of this supposed secret account exists the whistleblower and Mr. Ramjattan should present these findings to the relevant authorities to be investigated. But since such information has not been presented, it is without doubt yet another example of reckless and highly dishonest behaviour and cheap political tactics of the AFC, particularly Mr. Ramjattan,” the release said.

The statement sought to provide clarification on the circumstances surrounding the privatization of the bank in 2003.  “The privatisation report, ‘Privatization in Tables: Phase II (1993-2011)’, released by His Excellency President Donald Ramotar, shows the payment of the proceeds for GNCB’s privatisation. Page 22 of table 7A clearly shows that $2.3B was paid to the Government of Guyana and $406M to GNCB for the book value of the $2B net assets privatized.”
In addition, GNCB’s accounts have been audited by the Auditor General and tabled in Parliament up to the year 2008.
 “It is regrettable that the opposition continues to create havoc and mischief by blatantly lying rather than meaningfully contributing to the development of the country and its people,” the PU stated.