We the innocent, led by the unknown, are doing the impossible for the ungrateful!
We have done so much with so little, so we are now qualified to do anything with nothing!
Monday, February 13, 2012
Glen Lall fingered in AG report over US$2M unpaid debt
The Auditor General has cited Guyana Stores Limited (GSL) for owing the state some US$2 million (G$407,399,993) in outstanding fees for the purchase of the business when it was privatised by the government back in 2000.
The information is stated in the AG’s 2010 report which was handed over to the Speaker of the National Assembly on Friday. Government had sold Guyana Stores for US$6 million, but since October 2000, it has been a tough battle for the owners to pay the full sum. According to the AG, some US$4 million has been paid and the remainder should have been paid over since 2002, but the owners have defaulted. Kaieteur News Publisher Glenn Lall and Tony Yassin are reportedly the two major shareholders of GSL. It is not clear whether GSL has been struck off the Register of Companies for its lack of compliance.