Govt. to liquidate more state entities
Guyana Chronicle
November 1, 2003
Government is moving towards the liquidation of several state entities, Head of the Presidential Secretariat (HPS), Dr. Roger Luncheon, announced at his weekly news conference yesterday.
Among the entities listed for closure are the Guyana Fisheries Limited (GFL), the Bauxite Industry Development Company (BIDCO), Berbice Mining Enterprise (BERMINE) and Linden Mining Enterprise (LINMINE), Dr. Luncheon disclosed.
As regards GFL, Dr. Luncheon noted that since 1994 its activities have been merely the collection of rental. As such the company has not been viable. A company to manage its transfer of assets is to be appointed which would include as legal, financial accounting and auditing issues.
In relation to BERMINE, the HPS said its merger with Aroaima Bauxite Company would see the closure of the company and operational; assets are to be transferred to Aroaima, while in the case of LINMINE a management contract with CAMBIOR will effectively bring its existence to a close.
Consultations are ongoing with respect to workers benefits to settle those issues in accordance the Termination of Employment and Severance Pay Act, Dr. Luncheon reported, but pointed out some are of the view that pensions should be paid immediately while others are prepared to wait until they are due. This he said would have to be amicably settled through consultations among stakeholders. (Chamanlall Naipaul)