THE Government is selling its seven per cent shares in the Guyana Stockfeeds Limited (GSL) a move which the People’s Progressive Party (PPP) is opposing.

PPP has had a long-running battle with the major shareholder of the company, Robert Badal. In a statement issued on Monday, the party has called on the government to halt GSL privatisation until a 2008 Court decision to award 38% shareholding to NICIL is honoured.

The Government recently advertised for the sale NICIL’s shares in the Guyana Stockfeeds Ltd. in a move that the PPP says it views as pre-mature, “highly suspect in terms of timing, and calculated to benefit one of its significant AFC/APNU political supporters and contributors, Mr. Robert Badal.”

The PPP also said it views the sale as an act of corruption given the various pending court matters surrounding the NICIL ownership interest and related matters. “Most notably is the fact that in 2008, NICIL won a High Court case restoring its 38% shareholding in GSL but since Mr. Badal’s appeal, the case has languished in the Court of Appeal.

Rather than resolving this matter and restoring its 38% shareholding, the Government’s sale of its current seven percent shares (without the remaining shares), stand to deprive NICIL of its true value, worth over one billion dollars,” the PPP said.