Privatisation

In 1993, the Privatisation Policy Framework Paper known as the “Privatisation White Paper“ was tabled in Parliament and made way for the creation of the Privatisation Unit (PU). Its function was to co-ordinate the implementation of the Government of Guyana's (GoG’s) privatisation programme. The Privatisation Unit was tasked with:

• Combining the functions of the Public Corporations Secretariat (PCS) and the National Industrial Commercial Investments Limited (NICIL)
• Preparing for Cabinet approval, the programme strategy and annual programme targets for privatisation or liquidation
• Developing guidelines on operating policies and transparent procedures for the approval of the Cabinet
• Implementing the privatisation of those State-Owned-Enterprises (SOE’s) and assets selected for inclusion in the programme
• Participating in negotiations for the privatisation of SOE’s
• Reviewing of offers and make recommendations to the Cabinet on the terms and conditions for the sale of SOE’s
• Preparing financial and administrative audits of SOE’s not selected for privatisation
• Developing a strategy to build public understanding and support for privatisation by providing material for press briefings and speeches by Government officials; etc; and
• Ensuring that transparency of the privatisation programme is strictly respected and followed
• Monitoring operations of privatised entities in accordance with the terms and conditions of contract
• Preparing for Cabinet, broad guidelines on operating policies for privatisation, develop action plans for implementation, conduct a public relations campaign and help to build national consensus in support of Government’s programme.

(1993) Ministry of Finance. Government of Guyana Privatisation White Paper - Privatisation Policy Framework.
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