Georgetown : Cabinet Secretary Dr. Roger Luncheon briefing the media said, the recent move by the A Partnership for National Unity (APNU) to table an amended Anti – Money Laundering and Countering the Financing of Terrorism Amendment Bill during the next Parliamentary sitting may be a immature exercise.
Dr. Luncheon pointed out that the measures contained within the critical piece of legislation are based on the recommendations of the international financial body, the Caribbean Financial Action Task Force (CFATF).
“It is not APNU that has to be satisfied with the bill, it is CFATF’s bill and they must be satisfied”.
The Cabinet Secretary added that CFATF has, and will continue to dictate to other nations the measures of such a piece of legislation, particularly under their treaty obligations. He noted that the bill was drafted to meet Guyana’s current financial status and developmental stage.
The move by the largest opposition party was described as unusual by Dr. Luncheon who said that the party’s representatives were part of the special select committee appointed to discuss and analyse the legislation, and despite various entreaties from stakeholders, their intransigence was well known.
Notwithstanding this, government intends move ahead with its plans for tabling what Dr. Luncheon described as an “appropriately worded amendment” to the Procurement Act. This move was one which the Alliance for Change (AFC) had indicated that was deemed necessary for its support for the passage of the amended Anti – Money Laundering and Countering the Financing of Terrorism Amendment Bill.
Government will be making known publicly, its nominees to sit on a revised Public Procurement Commission. Asked about this about the apparent change of heart regarding the Procurement Act, Dr Luncheon replied, “I wouldn’t discount this analysis of yours but you would concede that there are possibly other alternative explanations for the interventions that have been made by government.”
There have been calls by various stakeholders such as the Private Sector Commission, Insurance groups and most recently foreign diplomats for the Parliamentary Opposition to support the passage of the key legislation.
Failing government’s ability to pass the bill will see Guyana being black-listed and several financial restrictions being placed on the local banking sector and a host of businesses that operate locally and internationally.
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