CHAIRMAN of the Alliance For Change (AFC) Attorney-at-Law Nigel Hughes is of the view that the action being taken by the People’s Progressive Party/Civic (PPP/C) administration to utilise funds from the Guyana Geology and Mines Commission (GGMC) is illegal and unconstitutional. Hughes however said that the party will not be taking legal action to test this as it will be impossible to obtain a judgment before elections which are due in three months.

Cabinet Secretary Dr Roger Luncheon on Wednesday announced that Cabinet had approved the transfer of US$100,000 to the Iwokrama International Centre as financial support to meet the commitments of the institution. He noted that the support was necessary as the international partners had not been meeting their obligations. Last week, the Commission disbursed a $3B loan to the Central Housing and Planning Authority at an interest rate of five percent.
The AFC Vice-Chairman Moses Nagamootoo opined that loans from the GGMC should only be granted to agencies for development within the sector and not as it is being disbursed. He said that the money should have been paid into the Consolidated Fund and then transferred to the agency. Dr Luncheon on Wednesday pointed out that the monies held by GGMC are there for the people of Guyana as it was their patrimony. He said that the money is being held and invested by the commission and could be used by the Government of Guyana for the development of all of Guyana.