By Jomo Paul
[www.inewsguyana.com] – Billions of dollars appear to have been siphoned off from the earnings of the Transport and Harbours Department under the People’s Progressive Party/Civic administration in the years 2003 – 2007.
This was revealed in the Auditor General’s report for the successive years, which amount to hundreds of millions of dollars. The reports were presented in the National Assembly on Thursday, October 22.
Public Infrastructure Minister, David Patterson, reading excerpts from the report indicated that for 2003, the audit of the financial statements disclosed that there was a gross understatement of the department’s income.
In 2003, the amount of $597M was reported as income; however a review by the Auditor General disclosed an income of $639M – a difference of $43M between the actual income and the stated amount.
Again in 2004, the operating income was stated as $332M; however the AG’s report showed an income of $639M – a difference of $307M.
For 2005, the stated amount was $362M with the actual income being $658M; a difference of $295M. The trend continued in 2006 and 2007 with understatements being $317M and $112M respectively. It is a grand total of $1.074B.