Dear Editor,

Firstly we must thank NCN for opening the door to views other than those perceived to be pro-PPP. However, we believe that a great opportunity went to waste since a debate must serve a valid purpose and the public display by the NICIL officials did not enlighten anyone.  The AFC has said it has reason to believe that NICIL ought to have some $50 billion in liquid assets from the privatization proceeds, dividends received on behalf of the state, from the sale of lands in many deals and from other income generating activities on behalf of the state.

The leading members of the NICIL Board felt otherwise with one claiming that there was $700 million to show for all these income generating activities.

However soon after that statement this $700 million mutated to $4,000 million since there were resources to invest in the Marriott Hotel.  When asked about the feasibility study for this project, the public was only told that one was done but it seems to be a state secret.

All of this difference of opinion can easily be resolved if NICIL provides to the parliamentary political parties its draft accounts for the years 2005-2011.
Unaccountability belongs in the 9th Parliament, not in the 10th.

Let us make it clear, we have a methodology as to how we arrived at the $50 billion figure and the gross revenue of NICIL was not used in any of our computations. Thus what the NICIL Board members were trying to portray on the TV programme was far from the truth.  But to protect our sources we have to ‘stan easy for now.’

So this $50 billion is no pie in the sky figure, and we ask the Guyanese people to stay with this figure because the NICIL Board is yet to provide tangible evidence to the public that it is otherwise.  But even audit reports from the Office of the Auditor General will be under scrutiny because of the unprofessional arrangements in that office. When grilled by Chris Ram, the NICIL Board members had no difficulty with a wife being in a position of power to potentially influence an audit opinion on a husband’s action.  How much more bizarre can we get in the governance of Guyana?  Why is there a culture of secrecy surrounding NICIL operations when that company is neither a private company nor is it the personal property of the members of NICIL’s Board of Directors? 

 All the assets and liabilities of NICIL belong to the people of Guyana and they have a right to know the facts on all the deals. Simple questions on serious issues go unanswered as the NICIL Board members attempt to trivalise the dialogue on NICIL.  While it was stated that they had US$3.5 million in cash, when pressed it was learned they are committing US$19 million to the Marriott Hotel.  Where is the difference (US$15.5 million) coming from?  We must make note that the NICIL Board members were asked this question several times by independent commentators on public TV and they side-stepped the issue.  So why invite anyone to a TV show if the intention was non-transparency from the start?

We remain convinced that Guyanese believe that much is wrong with NICIL’s financial transactions between the periods 2005-2011.  One just has to visit our inbox to see the amount of mail we receive on the issue and the number of whistle-blowers who are prepared to risk their jobs.

Nothing has changed in this minority regime – nepotism, discrimination, patronage, and corruption are still the order of the day. With $50 billion of taxpayers’ money unaccounted for, with sugar production just over 60 per cent of its target for the first crop of 2012, and with no economic development plan aimed at creating jobs for the youths, the minority PPP regime has morally forfeited its right to govern alone. It must be supervised by the Parliament. This nation is in crisis morally, spiritually, economically and socially.  From the utterances of President Ramotar, we were all under the impression that change was in the air. Thus we remain baffled at the energy being poured into maintaining the Jagdeo status quo.

Today, the poor and the working class, whom the PPP has abandoned, are the by-products of a vicious cycle—a cycle of white collar theft, corruption and fraud as a result of their state ignoring their needs to focus on the enrichment of a select few.  Sadly, the poor and the working class are left to fend for themselves and as they become poorer the big fish are getting richer. One only has to reflect on the Stabroek News editorial of May 24, 2012 to get a reality check of what is happening in Guyana.

We in the AFC remain proud to be associated with this struggle.  In the final analysis we shall not rest until NICIL comes clean on this $50 billion.

Yours faithfully,

Asquith Rose
Sasenarine Singh