NICIL and state assets

NICIL and state assets

Dear Editor.

After reading Anand Goolsarran’s  Accountability Watch Column `The changing mandate of NICIL over the years (Part 1 & 2)’ – (SN, 20th November 2020) I am more enlightened about how NICIL has operate.

It seems as if state assets were being transferred to NICIL at nil value ($0), NICIL then sold the assets and retained the monies from the sale of state assets without depositing any of it into the Consolidated Fund. Then, NICIL invested in projects using the money garnered.

It would be interesting to know how much state assets were transferred to NICIL over the last two decades; what is the value of NICIL and whether there is any real need for NICIL.

When the Government sells state assets citizens should see a direct benefit to them in the form of an increase government revenues (which pays for government services) or reduction in taxation, which has not been happening.

Yours faithfully,

Sean Ori

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