All privatisation deals were above board – Gov’t

– all transactions can stand the test of independent scrutiny – Dr Singh

Finance Minister Dr Ashni Singh has once again dismissed as false, the continued campaign of misinformation which suggests that the ruling administration has been less than honest and open about the privatisation deals it undertook since 1993. He also defended the right of all investors, regardless of perceived ties or links to the government, to do business with Guyana.
Dr Singh told a packed conference of media professionals that the National Industrial and Commercial Investment Limited (NICIL), the Privatisation Unit (PU) and the government of Guyana remain ready and willing to provide answers to any additional questions about the privatisation of state properties and assets that may be requested, following President Donald Ramotar’s release of a comprehensive report on the privatisations undertaken between 1993 and 2011.
He said the decision to release the information as part of a detailed document was testimony to the Head of State’s belief that the highest level of transparency and accountability must be associated with the undertakings of the state, especially where doubts or suspicions may run rife.
“I hasten to add that much of the information that is provided in the report, in fact, would have, over the course of the years, been much in the public domain. An overwhelming majority of these transactions would have been executed by way of competitive public tender, which would be advertised… and the eventual award would have itself being publicly announced”, he advised.
He disagreed with the suggestions that “there was a cloud” over some of the larger privatisation of properties, companies, and assets sold, leased or transferred by NICIL when questioned by media.
“I am not sure of the basis for the generalisation…. I am not aware that there is any general cloud over the evaluation of bids of any sort, be it privatisation or otherwise,” he responded.
“If there is a particular transaction that there is a request or need for additional information, then we are perfectly happy to answer questions in this regard.” Dr Singh also explained that all of the companies and entities which form part of the NICIL Holding Company, are subject to strict financial audits and other financial regulations and practices, which are clearly outlined and enshrined in the laws of the country.
The Finance Minister challenged the media and other politicians to prove at least one instance where information requested from the government about its projects and privatisation deals, was denied.
“It’s one thing to say that information could not be provided as a broad generalisation, but it is quite another thing to provide one specific example of what information was sought and not provided,” he argued.
“At the end of the Ninth Parliament, there was no question asked formally by members of parliament… that remained unanswered… that fact is verifiable by the parliamentary records”. Singh believes that the report itself is deserving of praise from all stakeholders because of the amount of work that went into ensuring its accuracy and legitimacy.
Asked about the policy used to divest state lands, properties, and assets given the continued opposition talk about distrust, alleged conflict of interests, and corruption, Dr Singh reiterated the government’s position that all transactions were above board and can stand the test of independent scrutiny at all levels.