Privatisation plans for GuySuCo lacks transparency- Opposition Leader

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Opposition Leader Dr Bharrat Jagdeo says privatisation plans for the Guyana Sugar Corporation (GuySuCo) lacks transparency.

General Secretary of the PPP Dr Bharrat Jagdeo

He has since expressed worry over the fact that a cabal is being created within the Special Purposes Unit (SPU) and the National Industrial & Commercial Investments Limited (NICIL) which has the responsibility for this process.

This issue was raised earlier today by Jagdeo during a press briefing, where he posited that the public is not even sure if the entire Government agrees with the plan to privatize GuySuCo’s assets.

“Everything lacks transparency and I believe what is fast emerging is a cabal in SPU and NICIL that will give away these assets without following procedures.”

Jagdeo also believes that based on the manner in which this issue is being handled, there is likely to be some corrupt transactions taking place.

“Because they have practically dismantled the structure for privatization that we put in place through the white paper that we took to Parliament and you would recall that we published.”

Under the People’s Progressive Party (PPP) Administration, Jagdeo reminded that everything that was privatized was published in a document and they all followed one process.

He noted that under the incumbent Administration however, “They’ve just set that aside, the entire privatization process, so they can make a decision about which entity to privatize and how the privatize and even accept a bid without any oversight”

But according to the Opposition Leader, their white paper on privatisation had many layers of oversight ending with the Cabinet.

He asserted that careful attention has to be given to this situation, which he said could see  the assets of GuySuCo being given away.

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