ALLOW me to return to a very topical problem, that is, the question of privatisation and divestment of the Guyana Telephone and Telegraph Company 20% share by the government of Guyana. Some people are very aggressively advocating divestment. Our government must take a dispassionate look at this issue and not to be overwhelmed by those who take such positions, whether from an ideological standpoint or because their companies stand to gain.

Lest I be misunderstood, let me say clearly that I am not against divestment in principle but I do not believe that it should happen in every instance, be the first or only option to sell the shares of divested companies. Let me add also that I am not against private enterprise.

I welcome private, local and foreign investment and private initiative which bring much benefit to workers in creating jobs, improving skills and advancing both workers and the country’s welfare. But here we are selling off our assets which were built up by generations of Guyanese labour. We cannot and must not take this lightly. I therefore believe that Guyana government should struggle not only to retain its assets, but also to expand them.

Indeed let there be competition not only between private sector representatives but with the inclusion of public enterprises as well. Do not deny the Public Sector that right!

Having said this, I would hasten to add that the unpaid purchase price of two million and one hundred thousand United States dollars shall be first charge on the divested property of the Guyana Rice Milling and Marketing Authority Complex at Anna Regina and if default is committed by the purchaser in making payment of the same to the government in accordance with the terms of the agreement, the said sum may be recovered, without prejudice to any other remedy the government may have against the purchaser, by enforcing the charge. No one has benefitted from this sale of shares or even know the government shares to date.
MOHAMED KHAN