Tag Archives: State Assets Recovery Agency (SARA)

Guyana Gov’t fires State Assets Recovery Agency (SARA) staff – Operations closed

All 42 members of staff have been fired.

Kaieteur News – Contending that from the inception the State Assets Recovery Agency (SARA) was not crafted with the best interest of the people in mind, Attorney General (AG) and Minister of Legal Affairs, Anil Nandlall, announced yesterday that a decision has been taken to close the operations of SARA.

In a statement released via his social media page, the AG noted that letters were dispatched yesterday terminating the employment of the staff of the agency.
Nandlall, in the release, noted that the Peoples Progressive Party/Civic (PPP/C) has always been heavily critical of the law governing SARA as well as the operations of the purported State agency.    Continue reading

GUYANA: SARA seeking to recover $2.7B from QAII, $274m from GBTI

By Stabroek News – September 6, 2019    This story is developing and will be updated.

The State Assets Recovery Agency (SARA) today announced that it was seeking to recover $2.7b from Queens Atlantic Investment Inc over its controversial deal for the former Sanata Textiles and $274m from the Guyana Bank for Trade and Industry for the purchase of the Kingston property that is now its headquarters.

A release from SARA follows:

  • STATE ASSETS RECOVERY AGENCY
  • MEDIA AND COMMUNICATIONS DEPARTMENT
  • Lot 56 ‘A’ Main and New Market Streets, Georgetown
  • Telephone (592) 227-7050

PRESS RELEASE         Continue reading

Robert Persaud fails to explain why industry unknowns were granted oil blocks

Robert Persaud

When it comes to the suspicious award of two key oil blocks offshore Guyana to three industry unknowns, transparency advocates have thrown the burden of blame onto the shoulders of former President Donald Ramotar.

But the former Head of State is now saying that he acted on the advice and appeals of former Natural Resources Minister, Robert Persaud. Ramotar says it is he who must answer all the burning questions on the issue.
Yesterday afternoon, Persaud took to his Facebook Page and provided a statement on the matter. But his explanation had no answer for one of the many crucial questions on the minds of local critics—why were Mid-Atlantic Oil and Gas Inc, Ratio Energy and Ratio Guyana, companies which never existed before March 2013, granted rights to explore two blocks, the Kaieteur and Canje , which are located in very deep waters?      Continue reading

Guyana: SARA investigating smuggled gold and corruption – A.G.

SARA seeking Brazil cooperation to recover revenue from smuggled gold – Attorney General …says agency has 12 cases with possible recovery value of over $2B

Basil Williams