Head of the Presidential Secretariat and Cabinet Secretary, Dr. Roger Luncheon, during his post-Cabinet press briefing at the Office of the President on Thursday, said that Government’s share in the Guyana Telephone and Telegraph (GT&T) company will be sold.
Dr. Luncheon’s response came in answer to questions posed by media personnel about the state of Government shares in the company.
On May 7, 2009, Government Representative on the Board of Directors of the company, Winston Brassington, disclosed that government had indicated its intention to sell its 20 percent share in the local phone company.
“We formally indicated to Atlantic Tele Network (ATN) that we would like to sell our 20 percent share in GT&T and we are first offering it to ATN. Should ATN decline to buy our shares, we would then seek to sell it to third parties…We have indicated to ATN that if they wish not to buy our shares, then we reserve the right to sell it to third parties,” Brassington had stated.
Dispelling statements that the administration has created the circumstances where investors do not want to buy the shares, Dr. Luncheon said that investors have a right to express their sentiments and opined that there is no need for the administration to go the extra mile to dissuade persons’ feelings.
“All we want to say is the shares are on the market and our anticipation is that they will be sold; and we have outlined a series of interventions for which the money accrued from the sale would be used,” the HPS added.