NICIL holding billions $$ isn’t illegal- Ramotar
May 8, 2012 Demerara Waves
President Donald Ramotar on Monday denied that his administration is violating the law by allowing the holding company of government’s assets to keep huge chunks of cash rather than depositing them into the Consolidated Fund.
Concerns have been raised by the political opposition and government critics about GUY$50 billion being kept by the National Industrial Commercial Investments Limited (NICIL).
“You don’t have to do that because the law allows NICIL to keep this money,” the Guyanese leader told reporters at the Office of the President.
Ramotar insisted that “as far as I am aware, I’m not doing anything illegal; we’re not doing anything illegal as far as that is concerned.” Continue reading