St. George Grenada, September 28th, 2012 -- The latest action by the Government to sell its shares in GRENLEC to pay public workers salaries and wages is being described by former Finance Minister Anthony Boatswain as a desperate and reckless act by a financially bankrupt government-one that has neither the administrative skills nor the vision and foresight to manage an economy like ours.

According to Boatswain, the Government has reached the point of bankruptcy and is taking irresponsible actions with the people’s assets. These actions can have negative consequences for the future of the nation. 

This behavior, says Mr. Boatswain, reveals a very troubling pattern of behavior by the NDC Government.   He added that with this kind of hasty action, there is absolutely no way that the Government will get the best price for its shares in the Company 

Mr. Boatswain also wants the Grenadian public to know as that the Government is now giving up representation on the Board of Directors of GRENALC and will no longer have any say in the decisions regarding the electricity company.  This, he says, is a development that can haunt the Grenadian people in the future as rates are already very high.

Boatswain warned that Grenadians must never forget that it was the same NDC Government that sold GRENLEC for a very low price prior to the 1995 general elections.  Many business and homeowners are now struggling as a result.

With the recent decision by the Prime Minister to prorogue Parliament, the Government will become even more desperate to meet its basic operational expenses and this kind of desperate action may continue, he says. 

The Opposition has been reliably informed that the Government intends to sell more assets in the near future. 

Members of Parliament and the general public are concerned that the Prime Minister who continues to speak about transparency, accountability and good governance as well as principle and integrity in Government, is selling national assets without even informing the nation. 

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