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Rowley: Govt ‘secretive and deceitful’ on Clico

Published: 
Thursday, May 22, 2014

Opposition Leader Dr Keith Rowley wants the Government to come clean on plans to sell Clico assets. He made the call following reports that the company, which collapsed in 2009 and received a multi-billion-dollar bailout from the Government, is up for sale. Rowley said the Government has been “silent, secretive and deceitful” about arbitration involving a foreign shareholder in a methanol company in which Clico is a shareholder and “did not come out of it with a pleasant outcome.”

 

He said he was told the foreign shareholder “has won that arbitration and the arbitrator has directed that the Government sell their shares to that company on terms which, if the Government does not offer, are to be dictated by the arbitrator.” Rowley claimed the Government did not want citizens to know the result of the arbitration even though taxpayers’ money had been used to bailout Clico. He said he was concerned about how the Government is proceeding with the proposed disposal of Clico’s assets.