Former auditor general Anand Goolsarran has exposed a raft of breaches of the law by the government through the National Industrial and Commercial Investments Limited (NICIL) and said there should be a judicial review of the entity’s operations should government continue to defend its action and not take remedial measures.
“The governance arrangements [between NICIL and government] are far from satisfactory, given the domination influence of the Minister of Finance: (a) as the Minister responsible for NICIL: (b) as the Chairman of NICIL; and (c) as the Government of Guyana’s designated representative of NICIL as a State-owned company,” Goolsarran said in his concluding remarks at the end of a two-part article looking at NICIL, the first of which appeared last week Monday, and concluded yesterday.
He said that a Management Co-operation Agreement dated December 31, 2001 was entered into between the Privatisation Unit, NICIL and the Government. “This agreement provides for
