Why has the money not been transferred to the nation’s coffers? –??CorbinWhere is the more than US$200M that has been earned from the several privatisation deals over the past five years? And why is the money not being transferred to the nation’s coffers?Leader of the Parliamentary Opposition Robert Corbin These questions were posed by Leader of the main opposition party, Robert Corbin,Supply Cheap Jerseys, who in an interview with this paper pointed out that under the laws of Guyana, the money earned from privatisation is not being held by the Privatisation Unit or the National Industrial and Commercials Investment Limited.While emphasising that he would request the Shadow Finance Minister to investigate the issue, Corbin did say that there must be reports on privatisation deals based on a commitment given, but only one was presented and this had to be forced by way of a motion in the National Assembly.He recalled that this was when the shares were being transferred to Bosai, the Chinese Company that acquired the Linden bauxite company.“Eventually we got some kind of a sketchy report on what took place,Cheap Jerseys Supply,” said Corbin.He said that for each of the privatisation deals undertaken by that body, the reports should be laid in the National Assembly.Corbin also recalled that when there was a move to privatise the electricity sector, again a report was sought in the interest of transparency. It did make its way to the National Assembly but he pointed out that it was discovered that the government had breached the provisions of that contract which led to that venture being abandoned.He did point out, though, that while no general questions have been raised in the Parliament about the privatisation procedures, there are significant questions about some individual deals, including the Sanata Complex deal for which the PNCR is investigating whether that money was paid over to the nation’s coffers.He noted that the whereabouts of the money and the reasons for its non- transferal was a pertinent question to be answered and if it was not forthcoming then the issue will have to be raised in Parliament.Between 1994 and 2007, in excess of US$115M was realised from the privatisation of public companies and real estate. But not all of the monies came directly into the revenue coffers.This was made public during a tax seminar that was held at the Pegasus hotel which was presided over by NICIL and the Privatisation Unit Head,Wholesale Jerseys 2018, Winston Brassington, as well as Go-Invest head, Geoff Da Silva, among others.At the time, Brassington, when asked about the deposit of the $360 million accrued from the sale of a plot of land to John Fernandes Limited,Cheap NFL Jerseys China, said that the money went to NICIL, a government holding company.When monies go to the public treasury, Parliament must decide on its release. However,Wholesale NFL Jerseys, when it goes to another fund, there is no need for Parliamentary intervention.According to figures released by the Privatisation Unit,Cheap NFL Jerseys Wholesale, during the hosting of a seminar on Government’s privatisation and taxation policies and practices, between 2003 and 2007, the Guyana Office for Investment (GO-Invest) also granted some 285 companies concessions.Up to 2002, 14 companies were either partially or totally divested, while from 2003 in the second phase of privatisation, 26 entities were privatised.According to a Privatisation Unit report, from 2003 there were 99 transactions from 29 Government entities. These were broken down into 26 privatisation deals, 46 real estate transactions, and 27 restructuring/wind-up deals.Of the 26 privatisation transactions, four were not advertised with two of these ending up in an employee sale in the case of Guyana National Newspapers Limited and an employee/management buyout in the case of Surapana Farms.Of the remaining 22, three were negotiated and finalised after inadequate responses from advertising. These include Linmine and Aroaima Mining Company/Bermine. Queens Atlantic Investment Inc. was actually a fourth but the seminar made no mention of the QAII deals in the initial presentations.According to the Privatisation Union, while proceeds from Phase 1 were more than $1.1 billion, gross proceeds from Phase Two exceeded $23 billion from privatisation/real estate transactions between the period 1994 and 2007.“Overall, the Phase 2 privatisation has been done in a transparent and open manner. The modes employed emphasised the continuation of the business in most cases. Considerable attention was given to optimising value, investment, and employment.”According