-Terrence Campbell says has been seeking justification for withdrawals without success
Opposition representative on the Natural Resource Fund (NRF) Investment Committee, Terrence Campbell, yesterday declared its board to be a rubber stamp and said that his efforts for justification for withdrawals from the Fund have been stymied.
Campbell also posited that the lack of transparency in the spending does not satisfy the provisions of the Natural Resource Fund Act and that Vice President Bharrat Jagdeo wanted to “cop out” of government providing to the nation a breakdown of how it spends the funds.
“The Act calls for the funds to be used in a specific way. The government goes for blanket approval of X billions per year. It then withdraws in parts. The withdrawals do not specify how the funds will be used,” Campbell told Stabroek News yesterday when contacted.