Minister Scott scolds GPSCU over refusal to hold AGM

… takes Union to task over non-payment of dividends

Despite several attempts to meet with the Committee of Management of the Guyana Public Service Credit Union (GPSCU), the Union has refused to meet with the Social Protection Ministry to discuss several important issues concerning the non-payment of dividends to its over 14,000 members and its refusal to balance its books and hold a long overdue Annual General Meeting (AGM).

Minister Keith Scott has expressed disappointment with the conduct and behaviour of the Committee of Management of the GPSCU, which he said in a missive on Monday, was acting against the interest of its members and against the principles of prudent management.

The Minister said the Union was guilty of not paying dividends for several years now as a result of its inability and in some respects, blatant refusal to hold an AGM, which – according to him – was usually held upon the completion of the audit of the accounts of the society in conformity with the provisions and regulations contained in the Co-operative Societies Act of Guyana.

“For more than one year now, the Social Protection Ministry, under whose supervision cooperative societies fall, has been advising the GPSCU on the necessary legal steps to be followed to ensure that the audit of its accounts were completed so that the AGM could be held, to facilitate, among other things, the payment of well-deserved dividends to the members,” he explained.

Contrary to this repeated advice, the Committee of Management demanded that the Ministry permit the society to continue enjoying what the Minister described as an “unfair advantage”, which had been developed under “suspicious circumstances”.

In spite of several meetings and exchange of correspondence, which outlined the Ministry’s position of discontinuance of the unfair advantage to the GPSCU, its Committee of Management continued to defy the Ministry’s advice and even threatened to institute legal proceedings if the unfair advantage, which, for all intents and purposes was discriminatory, was not allowed to continue.

The Minister said the Union also refused to attend a meeting scheduled for July 25, 2017. Scott claimed that the Committee responded offensively to the invitation and suggested that it would attend only when it was convenient for them to do so. “That position adopted by the Committee is not only disrespectful but reflective of a desire to enjoy preferential treatment, which borders on corruption,” the Minister argued.

Scott added that the Ministry was not to be held responsible for the AGM not being held at this time or any other time earlier. He also advised all cooperative societies and credit unions that the current dispensation did not allow for preferential treatment to anyone.

“The law will be applied fairly, and equitably to all and sundry. At this time, we have no interest in divulging the parameters of the unfair advantage which the GPSCU enjoy, but if we are forced to do so, then, by all means, that will be done,” he added.