Business executive and long-serving Private Sector Commission member, Ramesh Dookhoo is the private sector’s nominee for the Natural Resource Fund (NRF) board which will oversee oil and gas revenues.
This was yesterday disclosed to Stabroek News by Chairman of the Private Sector Commission, Paul Cheung.
“Our nominee is Mr Ramesh Dookhoo. He was approved by the council [Private Sector Commission Council] yesterday,” Cheung told this newspaper.
This newspaper reached out to Dookhoo yesterday but calls to his phone went unanswered. Dookhoo’s name will now be submitted to President Irfaan Ali for appointment.
The NRF legislation has been heavily criticised for ensconcing wide powers in the President and the Finance Minister. Critics have argued this would lead to domination of the NRF board by persons close to the governing party.
It was explained by Georgetown Chamber of Commerce and Industry (GCCI) president, Timothy Tucker, that Dookhoo edged out Richard Rambarran, as after the elimination of the names submitted from entities countrywide, it came down to the two of them.
Tucker said that while Rambarran was on the GCCI’s board and they wanted him as the representative because he was young, they recognised that Dookhoo was selected through a transparent process and as such will give him all the necessary support.
The PSC sent out requests for nominations from all parts of the private sector in Guyana.
The GCCI nominated Rambarran. “We had wanted to add a little youth to the Board but we, meaning the Council, still altogether through deliberations et cetera…selected Mr Dookhoo through a very transparent process,” Tucker said.
“We at the GCCI and all of the other bodies are very satisfied with the decision and are supportive of the private sector’s decision. We are happy we have a representative in Mr Dookhoo on the Board. He is no doubt very versed in accounting. He is a trained accountant and has all the relevant experience. So Mr. Dookhoo is by far a very versed nominee. He has been with the private sector through all the years and we support his appointment,” he added.
Parliament has nominated former PNC Member of Parliament and bauxite executive, Dunstan Barrow for appointment to the NRF board.
The PPP/C used its majority on the appointments committee of Parliament to approve Barrow, over objections from the opposition APNU+AFC which had staged a walkout during the process.
Opposition MPs had favoured chartered accountant and attorney, Christopher Ram.
President Ali has defended Barrow’s nomination and said that when the PSC has selected its person, he will name his nominees.
On his own, the President can name and appoint another three members of the board. He has not yet disclosed the names of the three persons he will choose to sit on the Board.
He had said that the opposition APNU+AFC should be ashamed to nominate Ram for the post as during its term in office, President David Granger had had no confidence in him being chairperson of the Guyana Elections Commission (GECOM) and that pushing his name now is disingenuous.
“Look at the duplicity! When we had the nomination for the Chair of GECOM, remember what that they said? Christopher Ram was not fit and proper. That is why I am telling you; Agenda! Agenda! Agenda!” Ali said emphatically.
Section Five (1) of Part Three of the Act dealing with Governance and Management of the Fund says, “There shall be a Board of Directors of the Fund which shall comprise not less than three and not more than five members who shall be appointed by the President, one of whom shall be appointed Chairperson by the President.”
Section Five (2) speaks about who the directors shall be, explaining that they “…shall be elected from among persons who have wide experience and ability in legal, financial, business or administrative matters, one of whom shall be nominated by the National Assembly and one of whom shall be a representative of the private sector.”
