Former Auditor General Anand Goolsarran says that the PPP/C government has made the National Industrial and Commercial Investments Limited (NICIL) into a parallel treasury, retaining and using funds meant for the Consolidated Fund at the discretion of its directors in violation of the Constitution.
Goolsarran also says that sales of assets vested in NICIL resulted in huge windfall gains, since there were often no matching costs against which profit could be measured and that NICIL saw a mark up of 900 percent from 2002 to 2010. Writing in his Stabroek News, published on Monday, Goolsarran said that in order to regularise matters at NICIL, it must be realigned to what it was prior
