February 9, 2007

Minister reports on GESCO progress

Government departments continue to owe General Equipment Services Corporation (GESCO) for fuel and instead of paying the arrears, most of the ministries are concentrating on paying their current bills.

This was revealed by Transport Minister Clayton Burgin while responding to a question asked by Opposition Senator Daniel Cummings about the state of affairs in GESCO.{{more}}

“GESCO has progressed well over the last four months. The Corporation has made substantial cash deposits to the bank between September 2006 and January 25, 2007,” Minister Burgin said.

Close to $1.5 million was deposited by GESCO during this period of time with the largest deposit being made in October – $345,186.26 and the least in December, $202,714.30.

Last September it was revealed that $25,000 in fuel seemed to have just evaporated from GESCO. At the same time the corporation had $100,000 in delinquent receivables and its fuel supply from SOL had been cut off.

Prime Minister Dr Ralph Gonsalves said then that GESCO’s days were numbered as a new entity responsible for repairs of roads, bridges and buildings was to come on stream early this year.

As regards the bank overdraft, Minister Burgin said that it had not been reduced over the last three months and at the end of December it stood at $2,286,294.59.