By Stabroek News – April 20, 2022
Joe Singh
President Irfaan Ali today appointed the Natural Resource Fund (NRF) board and named Major General (Rtd) Joe Singh as the Chairman
In addition to Singh, President Ali also announced two other appointees: Carolyn Rodrigues, Guyana’s Permanent Representative to the United Nations and United Kingdom Member of Parliament David Lammy whose parents are Guyanese.
Earlier, the Private Sector Commission had chosen business executive Ramesh Dookhoo and Parliament had selected former PNC MP Dunstan Barrow for the five-member board.
The PPP/C’s version of the legislation governing the NRF has been heavily criticised. There was no consultation on it and the government rushed it through Parliament.
Ali has appointed three members of the board all on his own and critics say that the PPP/C government is seeking full control of all aspects of the administration of oil revenues.
Comments
The Ali administration has lost all credibility with regard to the NRF board. The chairman of the board is a retired Major General? Excuse me, we are taking about Guyana’s sovereign wealth fund, which should be managed by directors with a background in asset management. Can anybody explain to me how a Major General should have gained the required knowledge to make investment decision on how to allocated hundreds of millions of USD on the capital market? Thes appointments only make sense, if the Ali administration has absolutely no intent to manage the oil revenues, since the grand plan is to spend the oil revenues right away.