Cheap Jerseys From China responsible for the agency –

nice6boyt7

In another six months, the life of Guyana Energy Agency (GEA)’s Board of Directors will come to an end. The board Gazetted, in September 2013, after a stir of controversy in the media, met twice and recommended that the agency deal with matters according to system and procedures.This was revealed by Lance Carberry, People’s National Congress Reform Executive Member, and a Director on the board during a brief interview with this publication yesterday.Earlier this year, Financial Analyst Christopher Ram highlighted several improprieties of the agency. These included the non-appointment of board members, non-tabling of annual reports in the National Assembly, and the National Estimates (Budget) did not recognize the US$350M worth of fuel transactions under the Petrocaribe agreement.Since the revelation by Ram,cheap jerseys, Prime Minister Samuel Hinds – responsible for the agency – ordered that Doorga Persaud will serve as Chairman of the Board, Finance Secretary Nirmal Rekha, will serve as the Vice-Chairman. And the other members include the GEA’s Chief Executive Officer (CEO) Mahender Sharma, Elwyn Marshall,Wholesale Jerseys, Clinton Williams, Badrie Persaud and Lance Carberry.The tabling of the annual reports in the National Assembly by the Prime Minister is yet to become a reality. Because the GEA is a statutory body, it is important that the National Assembly be informed of the body’s performance for the financial year.According to Carberry, these matters have engaged the attention of the board. The Auditor General and the Ministry of Finance are responsible for providing guidelines to the GEA for the preparation of accounts.“These matters have to be dealt with in terms of system and procedures…GEA didn’t invent something here,” he added.Carberry emphasized that the agency’s annual reports are outstanding,Cheap NFL Jerseys, but it is not a case where the agency has acted outside of instructions. He noted that the agency reports to the Prime Minister’s Office, as such the Prime Minister and Ministry of Finance should answer why they are not insisting for the reports to be done.According to Anand Goolsarran, up until he was the Auditor General in 2004, there were no accounting problems at GEA as the agency was not handling the Petrocaribe transactions during his tenure.He explained that as an agent of the state, GEA should not treat revenue belonging to the State, in this case the sale of petroleum products to oil companies,Cheap NFL Jerseys co, as its own revenue. However,CHeap NFL Jerseys China, the Petrocaribe agreement, designating GEA as the buyer,nfl jerseys cheap, complicates matters.As a minimum, however, the payments to Venezuela and the Government of Guyana are certainly not in the nature of office and administrative expenses.Goolsarran pointed out that the 2012 National Estimates showed the following budget figures for GEA: revenue – $40.7M; expenditure – $99.3M and a Government subsidy of $58.6M to meet the shortfall. The Estimates therefore did not recognize the US$350M fuel transaction under the Petrocaribe agreement and did not anticipate the above accounting treatment.Despite this, the 2009 audited accounts of GEA showed $14.398 billion as revenue from receipts from oil companies, and corresponding office and administration expenses totaling $14.424 billion. The latter figure represents a bit of comingling with real office and administration expenses.