The PNCR says it holds no brief for the directors of Globe Trust and it has never objected to any investigation into that entity, in response to a letter published in Tuesday’s edition of the Stabroek News.

In a press release the party said letter writer Roshan Khan should apologise for his “misguided” remarks contained in the letter titled “Why is the PNCR afraid of an investigation into Globe Trust?”

The party contends that the institution collapsed as a result of irresponsible management by its directors and the failure of the Bank of Guyana and by extension the Government of Guyana to carry out its supervisory function efficiently. It said it would have supported an investigation since many PNC supporters lost valuable resources and in fact it had provided legal representation to many persons affected by the collapse.

The party challenged Khan to provide evidence illustrating that it is being defensive about Globe Trust adding that as recent as April 17 PNCR Leader Robert Corbin, on his ‘Facing the Nation’ programme said the party had no objection to an investigation. At the same time, the PNCR said, “President Jagdeo, who could have ordered such an investigation years ago was now using this as a red herring to avoid the establishment of a Commission of Inquiry into Clico (Guyana), at a time when Guyanese taxpayers money was being committed to its rescue.”

The party said too it has consistently called for an investigation into the Clico debacle and “It is the government which seems bent on undermining such an approach.” It said it welcomes any measure that would seek to guarantee that policyholders and depositors are compensated and it hopes that Khan “will now be gracious enough to acknowledge that his letter is a misrepresentation of the PNCR’s position and withdraw his uninformed remark.”