…as motion to suspend Govt. sale of shares in GT&T defeatedBy Gary EleazarA motion primarily calling for the suspension of the decision by Government to sell its 20 per cent shares in the Guyana Telephone and Telegraph Company was last evening defeated in the National Assembly with the opposition condemned as having no moral authority to lecture on privatization of state assets.The motion by leader of the people’s National Congress Reform, Robert Corbin,Wholesale NBA Jerseys China, was calling for the government to establish a team of professionals to analyze the benefits of the selling of the shares as against the retaining of the revenue stream.But this was quickly shut down by Finance Minister Dr Ashni Singh who said that the government will not farm out intellectual work given that they had competent resources.Corbin,holesale Soccer Jerseys, in his opening arguments, questioned the motive behind the sale of the assets suggesting that there,Jae Crowder Jersey, something may be metaphorically up the sleeves of the government and that the intention was to dispose of the assets to one of its party supporters.Corbin first addressed what many called a sweetheart deal in the divestment of the then Guyana Telephone Corporation saying that the message had to be sent to the investors and private sector as a whole that there was an ideological change of the administration and they did not want the investors to run away as is the case with the privatization of the Power Company.“We had to offer a good deal.”He said that despite this,Cheap Air Max 90 Shoes, the government inherited a company with 20 per cent ownership from which a significant amount of dividends is derived.Corbin said also that there was also the provision of oversight in that there was the mandatory appointment of at least one director on its board where the interests of citizens could be looked out for.The People’s National Congress Reform Leader said that even with a 20 per cent clout the director would be able to exert some influence in the decision making process of the government of the Board of DirectorsThis argument was also shut down by the Finance Minister who told the House that in the very first sitting of the Board of Directors the same Government-appointed directors agreed to pay Atlantic Tele Network a tax free advisory fee of six per cent of gross revenue and that there was no need to show what for.“Is this how they were looking out for the interest of Guyanese,” asked Dr Singh.Corbin questioned why if GT&T was such a viable company and there was a steady stream of revenue why is there such a haste to sell the shares.As it relates to the body to analyze the cost benefits of selling the shares should there report be favoring the sale, then the first priority should be given to the workers of GT&T and whilst admitting that the cost per share may be expensive then there were innovative ways to get around that scenario.Noteworthy is the fact that the presentations from the government benches were replete with the privatization of then GTC and not the sale of the shares to the point that the PNCR Chief Whip Lance Carberry objected pointing to the Parliamentary Standing Orders which states that the arguments should be relevant to the motion.Prime Minister Samuel Hinds, under whose ambit GT&T falls,Wholesale NFL Jerseys, in his argument said that when the government sells its shares then it would be done according to the established privatization policies.He explained that when there is a stream of income then an equivalent value could be determined.He also drew reference to the questionable privatization of GTC adding that despite the fact that the deal was completed in 1990 Guyana did not start to receive dividends until a decade later in 2001 but ATN had been receiving their advisory fee from the inception.According to Hinds the government was not hell bent on giving away the shares in that the proceeds will be used to have each household in Guyana be outfitted with a computer and access to the internet, “Government has put much thought into selling the shares.”He said that when the government previously attempted such a strategy GT&T blocked the loan that was being sought at that time and as such the alternative is to sell the shares it owns in that company.Minister of Housing and Water Irfaan Alli said that he believed that the PNCR was defending personal interest and not party interest suggesting that the crafters of the motion had an agenda to protect.He said that “we have to look at the greater good,Cheap Jerseys Online,” of soci