All efforts are still being made to ensure that Hong Kong Golden Telecom Limited (HKGT) pays over the outstanding money for its purchase of government shares in the Guyana Telephone and Telegraph Company (GTT), according to National Industrial and Commercial Investments Limited (NICIL) head Horace James.
“We are not giving up, we are still working,” James told Sunday Stabroek last week.
In March, 2016, Minister of State Joseph Harmon and a delegation controversially travelled to China to engage in discussions with regard to the payment of the US$5 million balance owed to the government for the purchase of 20% of GTT shares by Chinese company Datang Telecom Technology and Industry Group, the parent company of HKGT, from NICIL in 2012. This deal was entered into by the PPP/C administration but only US$25 million of the agreed US$30 million was known to have been paid.