NIS did have an investment policy prior to May 2015

Dear Editor,

I write in reference to your October 3rd 2017, article in the Stabroek News that reported on the presentation made by the Chairman of the NIS Board at its 48th Anniversary celebration held on 29th September 2017.

Your reporter attributed statements to the Chairman, Dr Persaud, to the effect that NIS had no Investment Policy prior to the Granger government in May 2015.

As the former chairman up to time of the takeover by the APNU+AFC government, I beg to differ with the statement which is patently inaccurate.

For his information and the public’s, the NIS Board considered and approved an Investment Policy which highlighted a prudential framework for the scheme investment.

The senior management of the scheme can attest to this fact and the relevant Board minutes can be accessed, clearly showing those instances and decisions made based on the Cabinet-approved NIS Investment Policy, CP 2005( 9-3-W) held on September 20th 2005.

Yours faithfully,

Dr Roger Luncheon

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