President Dr Irfaan Ali said there are some “good names” being considered for the National Resource Fund (NRF) Board of Directors and is now awaiting the nominee from the Parliament of Guyana before finalising the candidates to be appointed.
He made this revelation while speaking with reporters on the sidelines of an event at the British High Commissioner’s residence on Tuesday night. The Head of State reassured that the announcement of the NRF Board will be made with immediacy once Parliament submits its nominee.
“We have some very good names that is being considered and I’m just waiting now for Parliament to send their recommendations and then with immediacy, you will see the Board,” President Ali stated.
Last month, Governance and Parliamentary Affairs Minister Gail Teixeira tabled a Motion in the National Assembly seeking to have the Committee of Appointments recommend a candidate to be appointed by the President to serve as one of the Directors on the NRF Board.
The three-to-five-member Board is expected to be made up of mostly civil society representatives with one nominee from the Private Sector and one from the Parliament to be appointed by the President.
The Head of State has already made it clear that he will select the individuals to sit on the Board with the utmost integrity.
Meanwhile, only last week, Vice President Bharrat Jagdeo reassured that the nominee coming from the Parliament will be supported by both sides of the National Assembly.
Section 5 (2) of the NRF Act provides that the Directors shall be selected from among persons who have wide experience and ability in legal, financial, business or administrative matters, one of whom shall be nominated by the National Assembly and one of whom shall be a representative of the Private Sector.
However, Section 5 (10) of the said Act states that a person shall not be eligible for appointment as a Director if that person, inter alia, is a member of the National Assembly.
Minister Teixeira had explained that with the motion now sent to the Committee of Appointments, they will have to meet to discuss a possible nominee who is not a Member of Parliament.
The Governance and Parliamentary Affairs Minister is the Chairperson of the Committee, while Minister of Human Services and Social Security Dr Vindhya Persaud, Minister within the Office of Prime Minister Kwame McCoy and Government Members of Parliament (MPs) Alister Charlie and Yvonne Fredericks-Pearson also sit on the Committee along with the parliamentary Opposition A Partnership for National Unity/Alliance For Change (APNU/AFC) MPs Annette Ferguson, Nicolette Henry, Tabitha Sarabo-Halley and Khemraj Ramjattan.
However, Henry last week indicated her intention to step down as a parliamentarian.
The NRF Act was passed in the National Assembly in December, amid chaos caused by the A Partnership for National Unity/Alliance For Change (APNU/AFC) Opposition who did their utmost to disrupt the proceedings after the Bill was brought up for debate.
The Bill, which has since been assented to by President Ali, outlines that the Directors will hold the post for not more than two years with eligibility for reappointment, and all appointments, as well as changes in appointments, are to be gazetted and published on the Ministry’s website and in two daily newspapers.
The new Bill states that the Board of Directors will be responsible for the overall management of the Fund, reviewing and approving the policies of the Fund, monitoring the performance of the Fund, ensuring compliance with the approved policies of the Fund, and ensuring that the Fund is managed in compliance with the Act and all other applicable laws.
Moreover, the Board is also expected to report to the subject Minister, who is allowed to give policy directives as deemed necessary to their functions.
In addition, the proposed legislation caters for the appointment of two committees, one of which is the Public Accountability and Oversight Committee, which will provide non-Governmental oversight of the Fund and comprises various civil society representatives who will have to present a report to the National Assembly annually.
