Tag Archives: Winston Brassington

Guyana – The truth means nothing to the politician – By Adam Harris

The truth means nothing to the politician

Adam Harris

Adam Harris

Opinion - commentary -analysisI am convinced that politics is about deception. It is about making one group of people look good and at the same time, criticizing the other. But in doing so the politicians give credence to the adage that the more things change, the more they remain the same.

When the coalition government came into office it did so on the back of a lot of promises. It has been able to keep some of these promises, but others have proven difficult. The result of the failure has led to rampant criticisms.
One of the promises was transparency. The government had promised to make available the numerous contracts signed by the previous government. However, the nation has suddenly found that it cannot be made privy to the Marriott contract. That is something that I cannot understand.           Continue reading

Sithe Global pulls out of Amaila Falls Hydro project

Amaila Hydro project…Sithe Global’s future input in doubt

AUGUST 10, 2013 | KNEWS      –    Company reportedly pulls out

President of Sithe Global, Brian Kubeck, yesterday maintained that “a public-private partnership of this magnitude requires a national consensus in order for us to proceed further.” Several hours later there were unconfirmed reports that Sithe Global had pulled out of the Amaila Falls Hydro Electric Project, but there was    [Read more]

US company pulls out of Amaila Falls hydro project- Brassington

Demerara Waves    – August 9, 2013.        Two days after Guyana’s National Assembly failed to reach consensus on key-related legislative arrangements to support the more than US$800 million Amaila Falls Hydropower Project, a key American investor has pulled out.    Continue reading

Guyana and Brazil discuss joint large-scale infrastructural projects – video

Guyana and Brazil a step closer to realising several joint large-scale infrastructural projects

Guyana and Brazil are a step closer to realising several joint large-scale infrastructural projects. This was revealed as a two day technical meeting between the sides concluded on Thursday. The Brazilian team included representatives of its energy, finance and investment sectors.

On Wednesday February 20, Finance Minister, Ashni Singh said, there are numerous areas of co-operation and the meeting formed part of the formal negotiations between the two sides.   Continue reading

Government: more money to collect in the sale of Guyana Stores

Guyana Government claims it still has more money to collect in the sale of Guyana Stores

Capitol News- January 16, 2013 – All the proceeds from the sale of Guyana Stores Ltd have not been received by the Government of Guyana after the deal signed over 12 years ago. This is according to Head of the Privatization Unit, Winston Brassington.     Continue reading

AFC would support NICIL’s liquidation – Ramjattan

AFC would support NICIL’s liquidation – Ramjattan

May 16, 2012 – Demerara Waves

The Alliance For Change (AFC) says it would support the liquidation of the National Industrial and Commercial Investments Limited (NICIL) should it operations be found to be unconstitutional.

This was relayed by AFC Chairman Khemraj Ramjattan at a news briefing on Wednesday the same day that a newspaper article reported the APNU’s Carl Greenidge as saying that that was an option if efforts to rectify the situation with the state holding company NICIL fail.

“I would call for a liquidation of the company and then a literal extinguishment if I may say so … bringing its activities to an end after it would have been liquidated and so it will not form part of our financial infrastructure anymore, it’s being abused,” Ramjattan said.      Continue reading

NICIL monies belong to NICIL – Brassington

NICIL monies belong to NICIL

MAY 14, 2012 | BY  |

… transfer to treasury done at the discretion of the Directors – Brassington  

Executive Director of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington, appeared on the State-owned National Communications Network (NCN) last evening and declared that the monies in NICIL accounts belong to NICIL.

Brassington was at the time being interviewed by former beauty queen, Olive Gopaul, who was told that while there is no obligation placed on NICIL by the Constitution of Guyana to have its monies turned over to the Consolidated Fund; it is done at the discretion of NICIL’s directors.

The Directors at NICIL at present include Finance Minister Dr Ashni Singh, Dr Roger Luncheon and Marcia Nadir-Sharma.  Continue reading

NICIL money invested in undisclosed projects

NICIL money invested in undisclosed projects

May 13, 2012 | By By Gary Eleazar

 …only US$3.5M  remains in the coffers – Brassington

Head of the National Industrial and Commercial Investments Limited (NICIL) Winston Brassington, has revealed that its accounts hold some $700M and not $50B as touted in some quarters.

The $700M however, represents only that which is in NICIL accounts as a singular entity and would only include proceeds from the Privatization Unit.
The Privatization Unit according to Brassington falls under NICIL accounts given that it is not an independent legal entity but rather, an arm or agent of NICIL.     He said that the $700M referred to as reflected in NICIL accounts, does not reflect the accounts of any of the subsidiaries of NICIL.

The Subsidiary Companies that NICIL controls include The Guyana National Newspapers Limited, publishers of the Chronicle, NCN, GUYOIL, National Edible Oil Company, Guyana National Printers Limited, Linden Electricity Company, and Guyana National Shipping Corporation. It has shares in several other companies including Guyana Stockfeeds Limited and more recently, Guyana Telephone and Telegraph Company and the Pegasus.   Continue reading

$50B in NICIL accounts a gross exaggeration – Brassington

$50B in NICIL accounts a gross exaggeration – Brassington

The political opposition and the stakeholders behind the National Industrial and Commercial

Investments Limited (NICIL) are now poised to collide over the amount of money being held by the State’s holding company.
Alliance for Change (AFC) Chairman, Khemraj Ramjattan, has contended that moneys being held in the accounts of NICIL, and which should be transferred to the Consolidated Fund, amount to some $50B, but there is a differing opinion from the entity’s head.
When contacted yesterday, Executive Director of NICIL, Winston Brassington, said that while he was not in a position to give a definitive figure, the $50B being bandied about by the AFC is “a gross exaggeration and one not grounded in reality”. Brassington said that he will soon be presenting details of the NICIL accounts.     [more]

Opposition satisfied with briefing on Amaila Falls

Opposition satisfied with briefing on Amaila Falls

(Demerara Waves) – March 14, 2012

Amaila Falls Hydro-power plant

Guyana’s two opposition parties Wednesday night (March 14, 2012),  expressed satisfaction with government’s explanation about plans to build the US$840 million Amaila Falls Hydro-power plant but at least one party says the talks do not amount to a rubber-stamp.

Using its one-seat majority in the National Assembly, the combined opposition has been flexing its muscles in demanding details from government about several major projects. The decision to provide as much information as possible was made at tripartite meetings among the government and the opposition during the past several weeks.

Alliance For Change (AFC) Executive member, Gerhard Ramsaroop and A Partnership for National Unity’s (APNU) Vice Chairman, Dr. Rupert Roopnaraine both welcomed the openness during the presentation on the 165 megawatt facility. The briefing was done mainly by Head of the Privatisation Unit, Winston Brassington.    Continue reading

I was clean on NICIL’s financial affairs – Winston Brassington

I was clean on NICIL’s financial affairs – Winston Brassington

MARCH 7, 2012 | BY KNEWS |

 …but evidence points to questionable deals

Winston Brassington

Head of the National Industrial and Commercial Investment Limited (NICIL), Winston Brassington, has justified his stead at the helm of the Privatization Unit.
Brassington chose to respond to queries about his integral role in having established Queens Atlantic Investment Inc (QAII).
Brassington in his missive to the Guyana Times and to the State Media (Guyana Chronicle) said “I have done my job with honesty and integrity and can stand up to whatever scrutiny is brought to bear.”
In 2008 when the illegality of the QAII deal was exposed, his colleague in government transactions, Geoff Da Silva, who headed the Guyana Office for Investment (GO-Invest) in speaking on the deal involving Brassington was forced to admit, “We made a mistake…We thought it was covered in law.”
The forum at which Da Silva made the revelation was “Guyana’s Privatisation and Taxation Policies and Practices” organised by the administration, in retaliation to comments made by local businessman, Dr. Yesu Persaud.
Persaud had said that concessions similar to those granted to QAII should be given to other local companies. This attracted a sharp response from none other than the then Head of State, Bharrat Jagdeo.  [more}

— Post #1174

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