Misdirected loans

Dear Editor,

Khemraj Harryram: Provide the evidence that GAIBANK loans were approved for PNC cronies

I refer to a comment made by Khemraj Harryram in which it was stated that: ‘Remember GAIBANK? It collapsed due to high non-performing loans to PNC cronies. (https://kiskadeewatch.com/opinion/letters/i-endorse-chris-rams-concerns-over-proposed-development-bank/).

Editor, I would be grateful if Khemraj Harryram can support his claim by providing the following information for the GAIBANK loans, which he claimed were approved and disbursed to PNC cronies:

1. Names and addresses of the PNC cronies who received the loans?
2. Provide copies of the PNC membership documentation of the persons you named?
3. What economic activities were to be undertaken with these loans?
4. What were the approved and disbursed loan amounts and dates?
5. Where were these projects located?

It should be noted that the Auditor General of Guyana, who audited GAIBANK Books and presented an audited report every year, never made any statements identifying any loans that were made to PNC members. Similarly, no comments to this effect were made in parliament by the PPP, when GAIBANK audited financial reports were submitted for presentation in parliament. Furthermore, loan approval had nothing to do with a client’s social, racial, religious, or political affiliation, but only with whether a project and loan request submitted by a client was in support of a financially viable project.

I therefore call on Khemraj Harryram to provide the evidence for the loans that were approved for PNC cronies, as this will ensure that you will be doing a much better job than the auditor general and the Parliament of Guyana.

Khemraj, please get the job done, for as the old people say, ‘Mouth-Tar and Guitar…!’