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Tag Archives: NICIL

GuySuCo denies withholding information from NICIL on spending GYD$30 billion

The Guyana Sugar Corporation (GuySuCo) on Tuesday denied accusations that it has not been accounting for more than GYD$7 billion disbursed from a GYD$30 billion bond, and insisted that it does not have to report to government’s holding company for state assets. GuySuCo’s Chief Executive Officer, Dr. Harold Davis Jr., in an initial reaction pending a comprehensive response to claims ...

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GuySuCo not showing how GYD$30 billion bond being spent; bondholders “unhappy”- NCIL

The National Industrial and Commercial Investments Limited (NICIL) on Monday said holders of a GYD$30 billion bond to help revive the Guyana Sugar Corporation (GuySuCo) have begun asking questions about how the State-owned corporation has spent GYD$7.4 billion dollars disbursed so far. “The bondholders and the trustees are not happy with the information coming from NICIL,” Head of NICIL, Colvin ...

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Gov’t moving ahead with sale of closed sugar estate lands – Harmon

Government was preparing to sell off huge swathes of land owned by the Guyana Sugar Corporation (Guysuco) as part of moves to sell off the several loss-making estates, even as the administration prepared to revive interest in the ‘for-sale’ assets by local and foreign investors, Director-General of the Ministry of the Presidency, Joseph Harmon said Friday. “I can say to ...

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Winston Brassington quits NICIL

Winston Brassington has given up his job as Head of the National Industrial and Commercial Investments Limited (NICIL), according to a Finance Ministry spokeswoman. She said Brassington’s contract expired on December 31, 2015 and he formally indicated that he would not be renewing it. That disclosure came hours after Demerara Waves Online News first reported that as of 20th January, ...

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NICIL Probe: SOCU hauls in Luncheon for questioning

Former Head of the Presidential Secretariat (HPS) Dr Roger Luncheon is the latest member of the Former People's Progressive Party/Civic (PPP/C) administration that has been hauled in for questioning in relation to irregularities uncovered at NICIL. Sources at the Special Operations Crime Unit (SOCU) have confirmed that the PPP stalwart was questioned sometime today. However no other information relative to ...

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SOCU representatives did not identify themselves properly before high-speed chase

Former Miss Guyana India and Miss India Worldwide, Alana Seebarrran has suggested that agents of the Special Organised Crime Unit (SOCU) did not identify themselves  properly when they turned up outside her her home and blocked and banged the car she had entered and even raced after them. The Guyana Defence Force (GDF) has since confirmed that Sergeant Robert Pyle, who was ...

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GDF spy was on “legitimate operation” , amid private sector fears

Amid growing concern about the role of military intelligence in civilian operations like the one mounted against the National Industrial and Commercial Investments Limited (NICIL), the Guyana Defence Force (GDF) Tuesday said Sergeant Robert Pyle was involved in a “legitimate operation” last week when he died in a vehicular collision. “Defence Headquarters wishes to notify the public that the late ...

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Ramotar defends Ashni, Brassy against govt “witch-hunt”

In the face of threats by government to go after former Finance Minister, Dr. Ashni Singh for the spending of GYD$4.5 billion from the Treasury without parliamentary approval, former President Donald Ramotar is sticking by Singh. “The fact of the matter is that Ashni Singh did nothing wrong and acted legally,” he said in a statement. Government had spent the ...

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