“…current reality poses danger for company’s future”By Gary EleazarEminent Chartered Accountant Christopher Ram is of the opinion that the current realities at the New Building Society (NBS) illustrate the shortsighted management that prevails at the entity.Ram was commenting on the fact that at present persons are being told to return after as many as six months in some cases for their loans, a development according to him,NFL Jerseys Supply, which does not bode well for the company,Cheap Jerseys China, in that it could create conditions where persons pull their assets.He expounded on this by saying that should the NBS continue to dissuade potential borrowers,Cheap NFL Jerseys Wholesale, then persons with assets in the company could infer a liquidity problem and pull their assets – and a run on the company is dangerous for its viability.“No financial institution tells borrowers to come back in six months.”According to Ram, the company desperately needs to make a public pronouncement on the status of the affairs of the company whilst providing the necessary documentation.Some persons seeking loans, and who were told to return after what they considered an extended period, lodged complaints with Kaieteur News that the NBS had stopped giving loans, with some even claiming that they are being told to go to other banks.Chairman of the Board of Directors at NBS Dr Nanda Gopaul when contacted by this newspaper said that it was not that NBS had stopped issuing loans, but it was just a matter of processing the numerous applications that the company had received.He explained that the spike was as a result of the “One Stop Shop’ campaign by the Ministry of Housing and Water wherein numerous persons are being issued with house lots.But this explanation, according to Ram,NFL Jerseys Cheap Authentic, is ludicrous,Cheap NFL Jerseys Wholesale, given that any effective management team would have adequately prepared for the spike in applications and established a special team to handle the expected influx.He noted, too, that another mark against the management of NBS is the fact that a loans sub-committee is yet to be established,holesale Soccer Jerseys, adding that this could have helped in the processing of loan applications.NBS was mandated by its shareholders at the company’s most recent Annual General Meeting to establish a loans sub-committee.Ram emphasized that there is a need for the company to make a public pronouncement given that if the current trend persists it poses a significant danger to the company.

The People’s Progressive Party (PPP) is not only labeling the country’s Minister of Natural ResourcesMinister of Natural Resources, Raphael Trotmana liar, but is insisting that he must apologize for? making the statements he made as it relates to the PPP/C government’s disposal of all of Guyana’s productive forest.This call is being made despite the damning revelations that followed Minister Raphael Trotman’s pronouncement.In a statement issued yesterday, the PPP said that Minister Trotman and Prime Minister Moses Nagamootoo both lied about the PPP/C government’s 100% giveaway of Guyana’s productive forest and “they must apologize to the people of Guyana.”During his Budget speech, Minister Trotman had told the National Assembly, “We were met with an alarming situation where we discovered that 100% or all of our productive forest was allocated by the past Government.” Trotman said that there “is nothing left.”The following day, Prime Minister Nagamootoo took evidence to the House that supported what was initially said by Trotman. Further, the media had released information explaining in detail what the PPP did with Guyana’s forest to the extent where it gave out forest lands that were not to be given out.But the PPP holds out that it is all a lie. The party claims that the “lie” undermines the Guyana-Norway partnership and Guyana’s international reputation.The Party says that in the absence of an apology and a full retraction, it will be seeking an independent investigation into the claims made by Minister Trotman.The Party said, “Pending the outcomes of this investigation, the PPP will have no choice but to supportOpposition Leader, Bharrat JagdeoNorway in suspending the Guyana-Norway partnership in order to preserve its integrity in the long-term interests of Guyanese citizens”.The PPP claimed that it has written to the Government of the Kingdom of Norway expressing its concern at the APNU+AFC Government’s “attacks on the integrity of the Guyana-Norway partnership on climate change and forests…In our letter to the Government of Norway,Discount NFL Jerseys, the PPP expressed our concerns that the Norwegian Government’s pause on disbursing money to Guyana – which started just after the APNU+AFC Government took office, despite the fact that a payment of US$40 million remains pending – has not been lifted. Neither has a new agreement been reached,Cheap Jerseys NFL China, despite the fact that the last payment under the partnership was to be paid for performance up to the end of 2014.”PPP thinks that the new government is seeking to tarnish its “excellent track record and stewardship on forest conservation, sustainable forest management and climate change.”According to the Party, the statements also deliberately question the integrity of the Low Carbon Development Strategy (LCDS) and the Guyana-Norway partnership for which forest conservation is a key pillar and the Amaila Falls Hydropower project is a flagship project.The PPP wants Minister Trotman to state whether he consulted with any professional staff within his Ministry before making the announcement.“We are confident that Minister Trotman did not consult with any professionals or anybody else who could advise him on the facts concerning the allocation of Guyana’s forests. Instead, he chose to degrade the National Assembly, of which he was once Speaker, by making wild assertions to dishonestly gain political advantage.”The PPP added, “Had Minister Trotman consulted with his Ministry’s professional staff, he would know that the facts are straight-forward. As shown in publicly available and internationally verified reports, Guyana’s forests cover an area of 18,483,000 hectares. The breakdown of this area is summarized on Page 5 of the latest Monitoring, Report and Verification (MRV) report which was independently verified by an agency engaged by the Norwegian Government.”The PPP said that about seven million hectares have been allocated for concessions, less than 38% of Guyana’s forest or about 55% of the State Forest Estate.“Of the seven million hectares,Cheap NFL Jerseys Online, about five million hectares are allocated through large concessions. Of the five million hectares, about 2.8 million hectares of large concessions were allocated by PPP/C Governments between 1992 and 2015, and about half of the large concessions were issued by the PNC Government before 1992, including the current largest concession for Barama at 1.7 million hectares.”According to the party,Wholesale Basketball Jerseys, the PPP/C Government allocated approximately 15% of Guyana’s forest to large concessions and close to half the State Forest Estate remains unallocated.Furthermore,Wholesale NFL Jerseys China<