Dear Editor,
The die is cast. Globe Trust and Investment Company Limited (GT&ICL) is to be liquidated (SN 24.10.08); depositors with savings in excess of $100,000 are unlikely to receive any compensation.
The utterances by the President of Guyana in 2001, that the ‘small man’ will not suffer, and further statements by the PPP’s General Secretary, were just a load of corns.
The UK based Guyanese who like their local counterparts, had deposited their pensions and gratuities in the GT&ICL, including deposits in educational savings, have nothing to receive.
From the beginning of GT&ICL woes, the Government of Guyana took a hands-off stance.
Many of the institution’s depositors have died; many are suffering from bouts of depression since its demise.
The PNC and the so-called Afro-centric organsations have been a colossal failure in their representation of depositors’ concerns.
General elections are due in 2011; the 6000 to 7000 depositors and their relatives will remember this abandonment by the PPP/C and the PNCR.
Yours faithfully,
C. Vaughn MSM
Major (Rtd)
