Strict management practices implemented by GWI

Proper management practices has been implemented by the Guyana Water Incorporated (GWI), to restore its financial integrity, following the conclusion of its 2017-2018 audit reports.

GWI’s Chief Executive Officer (CEO), Shaik Baksh informed media operatives recently that the previous administration’s mismanagement of the entity’s funds and resources made this mechanism a much-needed factor.

“The auditors could not account because of the storage problem too. You know, you store millions of dollars in chemicals like at Shelterbelt, and when the auditors went and checked on it, it was difficult. Now we have streamlined all of that and they can walk in it today, and they will be able to account for every item,” the CEO said.

Baksh revealed that based on the 2017 and 2018 audit reports, millions of dollars cannot be accounted for due to poor inventory management and debts. As such, it is extremely difficult for the water company to hold anyone accountable for this issue.

“They could not account for inventory in some areas, and this is so large that it led to a qualified opinion by the auditors both in 2017 and 2018…there is the whole question of the debt: customers’ debt, there is a lot of gray areas in what was the debt,” he said.

The CEO disclosed that currently, the agency’s 2020-2021 financial statements are being audited to be completed by year-end.

He noted that in 2021, GWI underwent a forensic audit to ascertain its financial position which was left in disarray by the previous administration. It was revealed that some $87.9M was overpaid to a contractor for the Vlissengen road pipe project.  The GWI CEO added that overpriced staff parties estimated at over $80M in 2018 and 2019, as well as overseas travelling were also discovered.