Dear Editor,
The APNU/AFC, while in Opposition, alleged repeatedly, that NICIL was used by the PPP/Civic Administration to hoard billions of dollars and to siphon off from the treasury billions of dollars. The Minister of Finance cannot now make the vacuous statement that “NICIL not as rich as it used to be”.
As the custodian of public funds, the Minister must now explain to the public where have the billions which were allegedly hoarded by NICIL under the PPP/C Government gone. The billions simply cannot vanish.
Either it was stolen under this Administration, or the APNU/AFC lied to the nation when it made those bold allegations that NICIL was hoarding billions of dollars. The Minister cannot eat his cake and have it. He is obliged to choose one of the two options which I have listed if he wishes to be taken seriously.
Since the Minister is speaking about NICIL and its not-too-rich status, the Minister ought to also update the nation on the status of the US million owed to NICIL for the sale of the GT&T shares. The time for the payment of that sum of money under the agreement by which those shares were sold has long expired. The nation needs to be told what steps, if any, are being taken by this Administration to recover those monies.
It may also be opportune for the Minister of Finance to say how much of the billions of dollars which were in commercial bank accounts and in accounts held by extra-budgetary funds have been transferred to the Consolidated Fund.
During the 2015 Budget debates, the Minister had promised to transfer all these monies into the Consolidated Fund. In fact, this was also a major platform promise made in the election campaign by the APNU/AFC.
Nineteen months after, the Minister ought to account to the nation how much money have been transferred from these accounts to the Consolidated Fund and if all the monies have not been transferred as he promised, he must give the reasons why he is breaching his own promise.
Sincerely,
Anil Nandlall
