No move as yet to dismantle NICIL – Trotman

GINA, GUYANA, Friday, November 18, 2016

There is no move by the Government of Guyana to dismantle the National Industrial and Commercial Investments Limited (NICIL), Minister of Natural Resources Raphael Trotman told the media on Thursday.

Minister of Natural Resources, Raphael Trotman.

Minister of Natural Resources, Raphael Trotman.

Speaking at a post-Cabinet press briefing, at the Ministry of the Presidency, Trotman said he believes some of the recommendations are being adhered to as it relates to the mandate of the agency because the company was not established to be “a money making enterprise, a profiteering unit.”

Minister Trotman also pointed out that the leadership and the stewardship of the company is going well, and some changes are effective.  NICIL’s chairman is Dr. Grantley Walrond.

As it relates to the cost for the Commissions of Inquiry (COIs), Trotman said that those were borne by the Government of Guyana. ‘We certainly did not anticipate the scale in which we would have had to hold inquiries, the scale was a bit overwhelming, but the budget would be from the Ministry of Finance,” Trotman said.

The entity’s functions are to effectively, responsibly and transparently manage, monitor, develop, improve, hold or dispose of the company’s assets and engage in developmental projects that collectively will contribute to the development of Guyana and its people.


By: Gabreila Patram


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