Attorney-General Anil Nandlall on Wednesday rejected as “myth,” charges that there is no transparency in the operations of the state holding company, NICIL, and said that transactions up to 2011 are being compiled.
The compilation of these transactions will see the populace being informed, he said during Wednesday’s evening installment of NCN’s series of debates on corruption. On the program, chartered accountant, Christopher Ram and government officials engaged in fiery exchanges as they focused on the National Industrial and Commercial Investments Limited (NCIL). The debate focused on the functions of the government holding company and the manner in which properties were sold to investors. The panelists included Nandlall, Housing Minister, Irfaan Ali, and NICIL’s deputy head, Marcia Nadir –Sharma.
“The myth that is peddled out there that there is no information …..that there is no transparency at NICIL ….is a myth,” said Nandlall in response to comments by Ram.
The panelists traded remarks regarding the functions of NICIL and Ali said that as a company, it has a responsibility to submit its accounts to the Auditor General. According to him, the entity has fulfilled its responsibilities in this regard. The minister said that it is the role of the auditors to say whether those accounts are within the international standards or regulations. He added that the accounts of the entity are forwarded to Parliament and further said that within the past two years, Finance Minister, Dr. Ashni Singh has laid in Parliament over 85 sets of accounts relating to NICIL and its subsidiaries.
But Ram pointed out that the accounts of entities controlled by NICIL are submitted to the responsible minister, who is Dr. Singh, who is also the Chairman of NICIL. In that capacity, the Finance Minister is required to table such accounts to the National Assembly, Ram said adding that the misperception needed to be corrected.
Nandlall, however, asked what was improper or unethical with a minister of the government being the chairman of a company that is owned and controlled by the government. According to him, the population is fed propaganda by Ram and members of the opposition with regards to the functions of NICIL. He said that in 2008, Winston Brassington, NICIL’s CEO presented in detail, reports of all transaction done from 1993 to 2008 and the document was distributed publicly.
Ram responded: “How could we think that statement produced by Mr. Brassington can be a substitute for audited financial statement” but he was immediately interrupted by the other panelists. Ram said that much is being played about with regards to audits. He said that NICIL has become the vehicle to violate the Fiscal Management and Accountability act, the Public Corporation Act and several other laws.
Nadir –Sharma, who was given little opportunity, like Ram, to contribute to the program, said that factual statements are not being made in the public about the entity. She said that persons, whom she did not name, were giving their own interpretations with regards to the company.
Among the other issues discussed was the appointment of Gitanjali Singh, the wife of the Finance Minister to the post of Audit Director in the Auditor General’s Office.
Ram said that Mrs. Singh is responsible for monitoring the accounts of the 10 administrative regions, statutory bodies and public enterprises. “If we do not think that that puts that poor woman in an embarrassing position, then what we are thinking,” he said even as the government ministers interrupted him. A loud Ali asked whether Singh’s appointment was illegal and further questioned whether her gender, moral-being and personality was out of sync with the position.
The AFC did not participated in the most recent debate while APNU has not participated in the series charging that it was flawed and skewed to one side and set up with a view to ambushing the Opposition.
