“ The collective failure of the Prime Minister and the heads of these entities to understand and discharge their duties, functions and responsibilities cannot be afforded or tolerated by a country as poor as Guyana.”Christopher RamThis was the assertion of Financial Analyst, Christopher Ram, in his response to Prime Minister, Samuel Hinds,Discount NFL Jerseys, over the management of the Guyana Energy Agency (GEA) and the sector at large.Ram in his public response to Prime Minister, Hinds, called on Government to arrange seminars for Ministers,Wholesale China Jerseys, Members of Parliament and state officials to be led by a management specialist, an attorney and an accountant of its choice, in order to enhance efficiency and compliance with relevant laws.Ram had chided the GEA over its accounting practices given the levels of money it would transact business with on behalf of the state.Last year GEA, dealt with a whopping US$350M in fuel imports and sales.The Prime Minister has since said that GEA “is in compliance with all of the relevant reporting requirements, which include the Companies Act of Guyana and the International Financial Reporting Standards.”Ram is adamant that the Companies Act is not relevant to GEA,Wholesale Jerseys From China, “it applies to companies incorporated or registered, or continued under it, not to statutory bodies.”According to Ram, the Fiscal Management and Accountability Act 2003 (FMAA) makes the GEA a statutory body,Wholesale Jerseys China, period.On the matter of the GEA recording the sale of fuel as a revenue item, Ram pointed out that the agency is merely carrying out the transactions on behalf of the State and pays out the money from the sale of the petroleum to Venezuela and the Ministry of Finance in Guyana.“It is an agent,Wholesale Jerseys Free Shipping, not a principal,” and as such the money cannot be considered as its revenue.Hinds had also said that “concerning whether an Annual Report, or just an Audited Financial Statement, is to be tabled in the National Assembly, we maintain that Section 30 of the Guyana Energy Agency Act speaks to Audited Financial Statements.”According to Ram, this answer by the Prime Minister demonstrates his unfamiliarity with the FMAA,cheap jerseys, which requires every statutory body to file an annual report and audited financial statements, no later than four months after the end of the body’s fiscal year.“Hinds, who is Leader of the House,Jerseys NFL Cheap, is in breach of his statutory duty to the National Assembly.”PM Samuel HindsOn the matter of the names of the Directors of the GEA, Ram said that the governing legislation requires the names of all members of the Board and all subsequent changes to be published in the Official Gazette.Prime Minister Hinds yesterday thanked the Financial Analyst for, “reminding me of my obligations to the National Assembly.”As such the Prime Minister has since committed to having the names of the Board of Directors published in the Official Gazette.