Business Review

Introduction I am unable to carry my review of the 2010 Report of the Auditor General as I am in the USA without access to all the relevant material.

Introduction Today we continue the review of the Auditor General Report which we commenced a fortnight ago on February 19, 2012.

Introduction I do not share the excitement of the media and the public about the revelations in the Auditor General’s 2010 report supplying further evidence of the excesses, mismanagement and improprieties which have become routine under Dr Ashni Singh’s stewardship of the Ministry of Finance.

Introduction In last week’s Business Page I indicated that I would be addressing the 2010 Auditor General’s report this week.

“The Contingencies Fund continued to be abused with amounts totaling $550.025 M drawn from the Fund and utilized to meet expenditure that did not meet the eligibility criteria as defined in the Act.”

Introduction Over the past couple of weeks I have had cause to try obtaining some information on particular companies, information that those companies are required to file with the Registrar of Companies. 

Introduction If Governor Mitt Romney, a leading candidate for the Republican nomination in the US 2012 presidential elections thought that he would neutralise the attacks by his fellow candidates by publicising his 2010 tax returns, he was wrong.

Last week was not a mixed week for the nation. On one day, the front page of the Stabroek News read: ‘PPP/C addressing voter loss’and ‘Granger says [APNU] not afraid of new elections,‘ both reports arising out of press conferences by their respective parties.

Comment Co-incidences are rarely easy to explain. At the time of launching an award for the best Annual Report by any Guyanese company as one of the activities and initiatives for its 25th anniversary observed last year, this column carried a review of the financial statements of the two operating companies of the Banks DIH group: Banks DIH Limited (‘Banks’), the food and beverage giant, Citizens Bank Limited (‘Citizens’), a 51% owned retail bank and Caribanks Shipping Company Ltd, a dormant company.

Introduction Nothing concentrates the mind like a deadline. With the date for the convening of the 10th Parliament fast approaching – it must be held within four months of the end of the previous session which ended in the last week of September, 2011 – it is expected that our politicians will soon resolve the uncertainties over who will be the Speaker as well as the simmering questions about the Statements of Poll.

Part 2 Introduction Today as we celebrate Christmas, a day marked as much for its commercial opportunities as for its religious significance, Business Page concludes a look-back at some of the articles carried in these columns during 2011.

Introduction This, my closing column for what was a truly eventful, indeed historic year is not about introversion or narcissism but one that was forced by reality.

Introduction December 9 was an important day for Guyana. For the first time since 2003 when the United Nations designated the day as International Anti-Corruption Day to raise awareness about corruption as an international and domestic agenda issue, the day was marked with a public activity – a seminar – in which the Government of Guyana took part.

Introduction At a time when the National Insurance Scheme is experiencing the results of more than two decades of bad governance it has just dished out some $600 million to buy the CLICO building on Camp Street.

Introduction As campaign 2011 moves into top gear, no one it seems has the least interest in the financial and economic consequences of the explosion in what appears to be uncontrolled expenditure by the government.

Introduction In his presentation to the National Assembly of the 2011 Budget on January 17, Dr Ashni Singh announced that public assistance was then being paid at a rate of $4,900 per month to approximately 9,000 beneficiaries.

Introduction The reader should not wonder why in the caption of this column ‘democracy’ does not precede ‘financing.’

Caribbean Containers Inc, a public company in the paper recycling business has reported turnover for the first half of 2011 increasing by 9.3% over the same period last year.

Introduction As President Jagdeo prepares to demit office in another few weeks there is a single issue with which his name will always be associated in CARICOM.

Introduction At long last, the Berbice Bridge Company Inc. (BBCI) has decided to file annual returns and financial statements with the Registrar of Companies.