A UPP government will suspend, audit, then dissolve NAMCO, Lovell announces

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Lovell

In an address to the nation last night United Progressive Party leader Harold Lovell has announced that he will dissolve the government’s main investment mechanism the National Asset Management Company.

“NAMCO is the people’s investment company, and the Jolly Beach property stands to become an asset of the people, as well.

Accordingly, the people DESERVE TO KNOW what deal this Administration has entered into on our behalf, and the Freedom of Information Act entitles us to know.And one final statement on NAMCO. NAMCO is not transparent, provides another needless layer of bureaucracy and doesn’t serve a useful purpose.

The UPP will suspend, audit, then dissolve NAMCO and pursue a more relevant private sector led development strategy; we will EMPOWER Antiguans and Barbudans by selling them the shares of existing companies owned by NAMCO.

Any funds currently held in NAMCO will be transferred to the consolidated fund.

It is important for the people to be able to trust that the Government is making decisions in our best interest, and at this time – sadly – distrust and disillusion are the order of the day.

Our prospects for the future are dim under this Administration. And no amount of rant, rave or rancour will change the fact that, under the ALP Government, there have been virtually NO new investments and our country has regressed by decades.

It is time… for a change.”

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26 COMMENTS

  1. Get rid of NYAMCO. In my opinion, it is a laundry to wash dirty clothes.Why would there be Government Ministers on that Board.

    • When you are in OPPOSITION …It is a BATSMAN wicket , You spew alot of garbage. This is nothing new…from the 2014 handbook. Lovell cannot win His seat. UPP DEAD.

      TEK DAT BRIXTONIAN…You support losers.

      • @ PETE, if you are going to make an analogy regarding a “BATSMAN wicket”, please, please, please take note, that when making any sort of analogy, you must stick with a SIMILAR theme when writing, or people will think your an illiterate fool. πŸ˜–

        TEK DAT PETE, AND YOU SUPPORT LIARS …

  2. After that speech, Gaston not going anywhere near a debate with Lovell. Not happening. Very good speech!

  3. I wish the programme was longer because it was such a wonderful experience seeing this gentleman and statesman tell us his plans then answer the questions. We young people are tired of Gaston Browne and his rudeness and cussing. We want real leadership because LEADERSHIP MATTERS!

    • Does the money made by Namco go into the Treasury? If not, then is Namco accountable with its funds and to whom? Seems to me that Namco is an opportunity for corruption.

      • NYAMCO,NOT NAMCO,MONIES DO NOT GO IN TO THE TREASURY OF ANTIGUA AND BARBUDA.THERE ARE 3 CABINET MINISTERS ON THAT BOARD OF NYAMCO.THEY ARE ROBIN,MOLWYN AND MELFORD.WHY DO WE NEED MINISTERS WITH SUBSTANTIVE MINISTRIES TO RUN ON ANY BOARDS? COULD THAT BE ONE OF THE REASONS WHY THEY DO NOTHING IN THEIR MINISTRIES. LOOK AT APUA,HEALTH AND COMMUNICATIONS IN ANTIGUA.HOW MUCH MONIES ARE THEY MAKING FROM BEING ON ALL OF THOSE BOARDS.LAZY SETS OF FAT,GREEDY,ALL OF SELF,PUPPIES OF THE DAWG BROWNE.

  5. Gaston learns from the middle easterners…. set up your sovereign wealth funds to mobilize capital and then use them strategically to enrich yourself and those around you!!! Through contracts etc… Guess who’s equipment is going to be first in line for contracts.. and we’ll create a plausible looking tenders process if the public gets too bright!!!

  6. Let us get rid of the old guards, and put our young and not so young innovators in place, to take us over into this new asset class industry that is about to take place the world over.

    The old guards have reached their full potential, they can not take us any further, our young innovators will have to hold their hands and take them across to this new dispensation.

  7. Let us get rid of the old guards, and put our young and not so young innovators in place, to take us over into this new asset class industry that is about to take place the world over.

    The old guards have reached their full potential, they can not take us any further, our young innovators will have to hold their hands and take them across to this new dispensation.

    Big up Youths

  8. time to sell all government enterprises to the people and let us hire competent boards and maximise profits. No more goverment ministers making political decisions on boards. Give us something productive to invest in with these shares. Use the money from the share sales to provide running water and better infrastructure.

    Divest, Divest, Divest, Lets focus on running the simple things first.

  9. Organized corruption in plain sight. Managed by friends and family. Gaston learned a few things from Trump.

  10. Outstanding response Mr Harold Lovell.

    The next political party that runs our beautiful country has to be more responsible and held to account in all fiscal, financial and pecuniary matters.

    The citizens of Antigua & Barbuda needs to know where every penny cent of their taxes are going.

    WE ARE NO LONGER GOING TO ACCEPT ANYMORE, WORD OF MOUTH GARBAGE FROM ANY MEMBER OF PARLIAMENT WITHOUT PUBLIC ACCESS AND ACCOUNTABILITY!

    Here comes the great apologist for Gaston Browne and the ABLP financial mismanagement @ From The Sideline, in 3, 2 … 1 boom πŸ’₯

    WHEY HIM DEY?

  11. FACTS: A man wanting to dey wid you will never tell you he is an abuser. He comes with all the sweet talk and once with you he shows his true colors!!!!

    • @ Just saying
      Like the 500 homes in 500 days.
      Like water flowing through the pipes in 14 days,
      That is the sweet talk you talking about.

      Or we have secured funding for Fiennes Institute
      Or Apple Vacations will be running Jolly Beach
      More of Gaston’s lies
      That is the sweet talk you like!

      That is the

      • Well said @ Janice Jennifer Jones – remind the Gaston Browne supporters of his many broken promises -; again a brilliant riposte to @ Just Saying.

        OUTSTANDING … πŸ‘

    • Just Saying I guess that is what Gaston did with his 500 homes in 500 days and also saying that he only wanted one term. Why the hell is he running for again. All you ABLP supporters must be IDIOTS.

  12. When you are in OPPOSITION …It is a BATSMAN wicket , You spew alot of garbage. This is nothing new…from the 2014 handbook. Lovell cannot win His seat. UPP DEAD.

    TEK DAT BRIXTONIAN…You support losers.

      • I just love these ANR threads, they are the best for verbal jousting. Beautiful.

        I know that one day an ABLP generational supporter will TRY and get the better of the amazing wordplay of the Brixtonian in hectoring and VITUPERATION, but to tell you the truth … I can’t see it happening anytime soon.

        I might change my name tag to Grammarian 🀣

    • @ PETE
      When in opposition it is a batsman wicket.
      Cast your mind back when the ABLP was in opposition.
      Remember the ABLP was against the CIP.
      Lionel Hurst walking up and down the pavement, shouting: ” My passport not for sale”
      Or Molwyn Joseph saying: the CIP will be implemented over my dead body.

      The ABLP is working from the handbook called: ” For your eyes only” written in 1999.
      One recommendation in the handbook states that the ALP government should create hardship on the population and then near the election give write-offs.
      Eg wiping off arrears of the electricity bill.
      PETE AKS ALEX AKA SMH AKA HMMMM
      That strategy is dated. As you see, it flopped.
      We are in 2022 and the population is tired of the same ALP/ABLP strategies.

      What is interesting is that the ABLP NOW REALIZED that the old strategy is not working so they are now copying the UPP.

      If the UPP is dead, why doesn’t the PM call the election

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  14. I don’t know where my comments disappeared too. But let me try it again.
    When you ask the UPP how they will fund the government with all their social programs and giveaways they promise, they can never tell you. But now it is clear. They are continuing the policy from 2014. They want to sell all state assets. And thereafter the country would be broke. And whoever they sell the assets to will control the country. Don’t let that happen people. That will be the beginning of real poverty in this country. No non-tax revenue for the Treasury any longer. All taxes that people will be saddled with. And how long will the funds from the sales last? Not even a year or so. They wanted to sell PCS to Digicel. Thank God Labour came to the rescue. Now PCS became Inet and is now the major player in our mobile and internet landscape. Leading the way with Fiber Optic Cable to the homes. Over a hundred million dollars investment. Can you imagine if it was in the hands of Digicel. Or even Flow. The average man/woman would not be able to pay for that. They wanted to give Venezuela majority shares in WIOC. Thank God that never happened. Can you imagine what would have happend with the US sanctions no on Venezuela. They wanted to sell State Insurance, well Crappo will smoke our pipe if we let these guys get anywhere close to running this country.

  15. HUMPTY DUMPTY SAT ON A WALL HUMPTY DUMPTY HAD A GREAT FALL ALL THE KINGS HORSES AND ALL THE KINGS MEN COULDNT PUT HUMPTY DUMPTY BACK TOGETHER AGAIN.

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