MP Questions NIS Regarding Financial Arrangements of Berbice River Bridge
1 report, 1 independent
Updated Sep 20
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What happened
Dr. Terrence Campbell, Member of Parliament for A Partnership for National Unity, questioned the National Insurance Scheme regarding the financial arrangements of the Berbice River Bridge. The inquiry focused on how the bridge was financed and subsequently sold back to the Government. Campbell stated that while the majority of the financing came from the NIS, the scheme received preference shares rather than common shares, leaving it without voting power or management control.
Why it matters
The MP argued that the agreements governing the bridge's financing and eventual acquisition should be made public. Campbell claimed the lack of publicly available agreements made it difficult to determine the returns the NIS received on its investment.
Who's involved
- NISThe central entity questioned regarding the financial arrangements of the bridge.
- federal governmentThe entity whose operational rules and funding are overseen by the NIS.
- parliamentThe legislative body that is being asked to address major financial governance issues.