The PNCR believes that if it is indeed necessary for the government to sell its 20 percent share in the Guyana Telephone and Telegraph Company (GT&T), employees of the company should be afforded the first option to purchase same.
These sentiments were expressed by the party at its weekly press conference held on Friday at Congress Place.
PNCR member Amna Ally, who read from a prepared statement, said the party would “oppose any attempt to deny the workers of GT&T the right to own those shares.” She said it was the workers of the company who have made it “into an effective and efficient organisation” and contended that “they should be given some preference over the political hangers-on and favoured supporters of the PPP.”
In May, Head of the Privatisation Unit Winston Brassington, following GT&T’s Annual General Meeting, had announced that the government was offering Atlantic Tele-Network (ATN), the majority shareholder of GT&T, the opportunity to buy the shares. The manner in which this was done, drew the ire of GT&T’s Chief Executive Officer Major General (ret’d) Joe Singh. The CEO, however, disclosed that the ATN’S Chief Executive Officer Michael Pryor had stated that the offer by government to sell its shares to ATN would have to be considered by the board of the company.
No disclosure has since been made as to whether any firm decision has been made.
Meanwhile, following Brassington’s announcement, GINA had subsequently quoted President Bharrat Jagdeo as saying that the money from the sale of government’s 20 per cent share will be utilised to develop the information communication technology (ICT) sector.
“We hope that the money that we can realize from this sale can go back to developing the ICT sector; that we can get more people access (to the internet)…we are trying to get more computers (and)…bring down the cost of bandwidth”, Jagdeo was quoted as saying.
Jagdeo further said the that government has been a passive shareholder of GT&T, accepting dividends and permitting the majority shareholder, Atlantic Tele-Network (ATN), to take decisions that are in their interest. And while government remains committed to a liberalized telecommunications sector, this does not mean that the administration has to do the investments itself, the President said.
He explained that the government will move to increase internet penetration within Guyana by subsidising the cost of internet bandwidth.
No problem, once they bid the highest… u cannot give it to them for next to nothing….
exactly, where does the PHENC come up with these brilliant ideas?
Corbin put a sock in it already you are all over the place.
RAYMOND.
DID YOU EVER HEAR ABOUT MARKET VALUE?
IF THE PNC SPOKES PERSON (MS. AMNA ALI) THINKS (IN HER WORDS) THAT THE GT&T IS EFFICENT AND EFFICTIVE, THEN SHE IS SAYING THAT EVERYTHING IN GUYANA IS PERFECT. THEN THEY(PNC) IS SAYING TO THE GOVERNMENT THAT ALL IS WELL STAY RIGHT THERE GREAT JOB.
I BEG TO DIFFER, THE BCOST OF THE POOR SERVICE THAT THEY ARE OFFERING IS TOO HIGH, THE QULITY OF OVERSEAS CALLS IS POOR AND THE COST IS ONE OF THE HIGHEST IN THE WORLD.
yea give it to dem “FREE” as Sandhurst FUSS says……..
Why didn’t PNC think of that when they were giving away GTC to ATN.
well said……. the PHENC needs to chill I am not sure what Corbin really thinks the state will gain from selling shares to the employees? are there any bids from an employee represented group?
The gall of some people i tell you.
Why not float an I.P.O.? Much more can be derived going this route.
IPO cannot be initiated by the Guyana govt it has to be done by the owners of the company and these are for existing shares not initial public offering.
Not to worry PPP will find some lacky to purchase these shares just like how they sold GPC and just like how they sold off all the Guysucko lands.
Stay tuned this is another debacle waiting to happen.
How can you measure efficiency in a monopoly?
You can measure efficiencies in monopolies by comparing them to other like external situations. Just like we can compare this current dictatorship to others.
However, the poo poo poo have failed us the people in not being able to change anything the PHENC screwed up as a matter of fact they have pretty much embraced it all just look at the constitution.
GT&T workers have to be fools to purchase GT&T stock when they would have no controlling interest and ATN would do the same thing they are doing to the GY govt where they would pay their firm in Boston a huge sum in management fees and leave the rest to be shared with the employees which would be pittance.
Corbin who does advise you budday? like you doing seance wid forbes or what? or Hoyte sending you telepathic msgs?