The management contract signed with Omai Gold Mines Ltd’s parent company, Cambior Inc to run Linmine will be tabled in Parliament for scrutiny as soon as the privatisation transaction is completed.

There is no indication as to how soon this would happen but according to Prime Minis-ter Sam Hinds early results in restructuring Linmine are showing that the project is cash-neutral and the completion of the privatisation is expected to achieve profitability.

His remarks were part of a written response released yesterday to questions asked by PNCR Member of Parliament, Abdul Kadir some two months ago in the National Assembly.

Kadir, under Questions to Ministers, had asked the Prime Minister, whether there was a management contract signed with Omai and the government of Guyana relating to the management of the state-owned Linmine.

He had also asked that if this was so Hinds should state when the contract was signed and what was the effective date and when it would become available for public scrutiny.

Hinds, in a reply circulated to the National Assembly, says there is a management contract signed by the state (represented by the government), Cambior Inc, the parent company of Omai and Linmine.

Hinds added that the contract was signed on July 24 and became effective on August 1. The Prime Minister also assured that the contract would be provided to the National Assembly on completion of the privatisation transaction but did not state how soon it could be expected.

Additionally, Kadir asked Hinds to say what steps if any had been taken to offset the dislocations experienced by the more than 1200 dismissed employees of Linmine.

Hinds recalled that each dismissed employee had received a part in what he called a generous severance payment and training grant totalling about $1B and which averaged over $800,000 per retrenched employee.

According to the Prime Minister the money should be seen as “sacred” money for individual and community redevelopment.

Hinds further stated that the objective of the government was to create the framework and opportunities for the development of new and existing economic enterprises in Linden and Region Ten as a whole.

Hinds noted that the European Union-funded Lin-den Economic Advancement Programme (LEAP) was a major component aiming to kindle and nurture the entrepreneurial spirit in Linden and throughout Region Ten. He added that LEAP had a small allocation for physical infrastructure improvement requir-ed to remove bottlenecks to economic activities.

He said President Bharrat Jagdeo had shared the Integrated Plan with PNCR Leader Robert Corbin in the course of their “constructive engagements.”

Hinds also pointed out that the overall objectives of the integration plan were to enable the bauxite industry to become internationally competitive, to stimulate the expansion and diversification of the region’s economic base through: investment promotion, development and expansion of small businesses and training to become entrepreneurs.

Moreover, Hinds said the plan would ensure a general upgrade of the region’s infrastructure which included electricity, water, roads, river services and urban development. In terms of social and recreational services, he said priority would be given to the areas of health, education, youth services and special interventions by SIMAP and other agencies.

He announced too that the government was pursuing a number of projects to bring jobs to Linden, noting the efforts were underway to enhance the development of timber and related businesses, agriculture and other forms of mining.

Hinds said the government through the Privatisation Unit was engaged in an exercise which aimed at building a database on the redundant employees. The information collected would be used to promote the level of skills available to an investor and to attract business that could use these skills with the intention to create strategic businesses to take advantage of the Brazil-Lethem Road.

The Prime Minister foresees that short-terms jobs will be created as a result of these projects and hopefully with the investment plan of Cambior.

At present about 350 of the 1200 laid-off Linmine em-ployees have been re-em-ployed by Omai.