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posted 10 Mar 2013, 23:01 by Gerry Kangalee   [ updated 10 Mar 2013, 23:02 ]


News reports suggest that government has retained the services of an accounting firm with a mandate to seek bidders for the sale of the now State owned assets of the CLICO empire. 
The National Workers Union (NWU) calls on the Minister of Finance and the Prime Minister to come clean about ALL that has transpired and all proposals that are being considered by the government vis-à-vis the disposal of these assets. 
Government needs to remember that they are merely custodians of the national purse and not owners. This Clico debacle is the greatest financial atrocity inflicted upon the people of this country and it has resulted in considerable pain and grief to the entire country. 
Yet pertinent information is deliberately withheld and fundamental decisions are being contemplated without dialogue with the populace. In order for this conversation to be meaningful then it is imperative that ALL relevant information must be disclosed. The NWU therefore calls for full disclosure and, in particular, we demand the following information, void of any partisan slant:

1) The amount of money spent to date on Clico. This should include initial and operating costs: bailout, legal, consultancy, costs to policy holders etc.

2) Outstanding issues that remain to be dealt with e.g. court and ongoing procedural matters. What are the projected costs to conclude these matters?

3) A list of all of the assets that have been acquired and also any that have been disposed of.

4) A detailed breakdown of all revenues earned from the operations including dividends, interest, rents, sales etc.

5) A list of all costings, valuations, analyses etc done on the assets.

6) Decisions government has taken in relation to the assets.

NWU believes that these disclosures and any others pertinent must be made forthwith. Some estimates suggest the cost to the taxpayers has exceeded $24 billon; that is approximately half of the National budget and would have been a significant contributor to the contraction in the economy over the last three to four years. 
Public servants have had protracted and difficult negotiations; health education, infrastructure development etc. have endured severe shortfalls which whatever the CLICO bill is to date would have alleviated. 
NWU hopes that culpability arising out of the deliberations of the Commission of Enquiry would be dealt with by the law. In the meantime government must not compound this injustice meted out to citizens by clandestinely disposing of lucrative business concerns to the benefit of a select few. 
NWU demands that government stays any such decisions, releases all relevant information and ensures the widest possible participation on the way forward. The cost, pain and suffering of the people demand nothing less. 

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Gerry Kangalee (National Education and Research Officer – Cell: 785-7637)

Gerry Kangalee,
10 Mar 2013, 23:03