FORMER Chairman of the Public Utilities Commission (PSU), Justice Prem Persaud has been appointed Officer-in-Charge of the Guyana Public Service Co-operative Credit Union (GPSCCU) Limited, the Ministry of Social Protection announced on Tuesday, in addition to disclosing that an Interim Management Committee (IMC) has been set up.

The announcement came one day after the embattled GPSCCU Management Committee, led by Patricia Went, registered objection to its takeover by the Department of Cooperatives, Ministry of Social Protection. It was on Friday, May 25, 2018, that the Social Protection Ministry informed Went and team, that their services were no longer needed, and that the Chief Co-operative Development Officer (CCDO) would take immediate control over the GPSCCU. Poor performance on the part of the old management team was cited as the reason.

On Monday, the Social Protection Ministry, in a statement, said as a consequence of the CCDO’s action, all operations were suspended. However, it assured that the office will be reopened for business today May 30, 2018 from 08:30hrs, with an Interim Management Committee (IMC) spearheading its operations.

Justice Prem Persaud has been appointed the officer-in-charge. Patsy Russell, a business consultant with a rich banking background; Trevor Benn, Commissioner and CEO Guyana Lands and Survey Commission; Rajdai Jagarnauth, Permanent Secretary, Ministry of Business; and Gillian Pollard, Deputy Director of the Budget, Ministry of Finance; Oneidge Walrond-Allicock, Legal Officer, Ministry of Public Telecommunications; and Patrick Mentore, Human Resources and Training Manager, Guyana Maritime Administration, are the members of the GPSCCU IMC.

In addition to being the officer-in-charge of management of the affairs of the agency, Justice Persaud was appointed an ex-officio member of the management committee.
The Social Protection Ministry also disclosed that George Vaughn, an auditor, was appointed. He will commence his work today as well.

“The Ministry of Social Protection takes this opportunity to reiterate to the employees of the Credit Union that the ministry thanks them for their understanding and cooperation during the past days and looks forward for their willing co-operation in the future,” it said.
The ministry assured that the jobs of workers at the Credit Union have not been jeopardised. All workers are required to report to work as usual at 08:30hrs on Wednesday May 30, 2018.

While the Ministry of Social Protection cited poor performance as its reason, Went told reporters on Monday that the decision was rooted in the demand by the Department of Co-operatives for “an undue payment of the Audit and Supervision Fund for the years 2002-2013 of an alleged balance of $449,691,682”.

“The Credit Union contends that the Department of Cooperatives’ claim to outstanding payments towards the Audit and Supervision Fund could not be justified, given that the already audited Accounts of the Credit Union for the years 2002 to 2010 reflected no such balance, as was claimed,” Went told reporters during a press conference at the Critchlow Labour College.

The Department of Cooperatives has reportedly refused to acknowledge waivers of contribution to the Audit and Supervision Fund which was authorised by then Minister of Labour, Human Services and Social Security, Dr Nanda Gopaul, and as such has asked that the moneys be repaid.