One day after the Guyana Pubic Service Cooperative Credit Union (GPSCCU) expressed concerns over the Government unilaterally taking over the organisation and closing the office, Social Protection Minister Keith Scott responded announcing that the GPSCCU will resume operations today.
Minister Keith Scott
During a press conference on Monday, Chairperson of GPSCCU Patricia Went expressed deep concerns over the Chief Cooperatives Development Officer (CCDO) assuming control of the affairs of the credit union without proffering any reason, and also accused the Minister of “grabbing” the credit union’s funds.
But Scott said a decision has been made to replace the previous Management Committee, with an Interim Management Committee (IMC). The Minister said the reasons for taking control of the Cooperative Society were clearly spelt out, hence there is little or no need to reiterate them.
“However, it must be noted that as a consequence of the CCDO’s action which took effect on Friday, May 25, 2018 all operations were suspended, and the office closed until, today Tuesday May 29, 2018. The office will be reopened at 8:30am Wednesday May 30, 2018 with an IMC,” he explained.
The new IMC include Justice Prem Persaud, immediate past Chairman of the Public Utilities Commission as the Officer in Charge; Patsy Russel, a business consultant with a rich banking background; Trevor Benn, Commissioner and CEO Guyana Lands and Survey Commission; Rajdai Jaggernauth, Permanent Secretary, Business Ministry; Gillian Pollard as Deputy Director of the Budget, Ministry of Finance; Oneidge Walrond-Allicock, Legal Officer, Public Telecommunications Ministry; and Patrick Mentore, Human Resource and Training Manager, Guyana Maritime Administration.
Scott said in addition to being the officer in charge of management of the affairs of the agency, Justice Persaud is also an ex-officio member of the management committee. He also noted that an Auditor in the person of George Vaughn has been appointed and will commence work today.
GPSCCU’s Chair, Patricia Went
“The Ministry of Social Protection takes this opportunity to reiterate to the employees of the Credit Union that the Ministry thanks them for their understanding and cooperation during the past days and looks forward for their willing cooperation in the future,” he stated.
The Minister has assured all employees that their jobs are not jeopardised, and all are required to report to work as usual. “They are asked not to be misguided or distracted by any other agency or person.”
GPSCCU’s Management Committee Chairperson Patricia Went said it learnt in a section of the media of its so-called unsatisfactory performance had caused the GPSCCU to be brought under new management. But the Committee claimed that there was no investigation into the affairs of the Credit Union to support that conclusion.
It was later explained that although the officer spoke of the Union’s unsatisfactory performance, “the matter was rooted in the demand by the Department of Cooperatives for an undue payment to the Audit and Supervision Fund for years 2002-2013 of an alleged balance of $49,691,682.”
The Committee Chairperson argued, however, that the Department of Cooperatives’ claim to outstanding payments towards the Audit and Supervision Fund could not be justified, since the already audited accounts of the Credit Union for the years 2002 to 2010 reflected no such balance, as was claimed.
According to the chairperson, the CCDO has also failed to acknowledge the waivers which were approved and granted by the previous Labour Minister, and are to date still in effect.
It was further noted that the Committee of Management was able to meet with the CCDO and the Minister who maintained their demands to have the Credit Union pay over the disputed amount to the Department of Cooperatives.
Minister Scott had requested that the Committee of Management sign the Adjusted Audited Reports, showing a balance of $49,691,682.00 as owed to the Audit and Supervision Fund.
Additionally, the Committee said Minister Scott had promised that on the GPSCCU signing the reports, he would immediately approve the holding of the AGM for the years 2011 to 2013, and that after the AGM, negotiations would commence on an amount of $24,381,256.
The chairperson said she considers the Minister’s action a threat to “grab the funds of the Credit Union.”
