Grenada Broadcasting Network

17th July 2024




Opposition Leader Tobias Clement has joined the line of sceptics to government’s explanation on the financing of the repurchase of WRB shares in GRENLEC.

Clement is calling on government to come clean as he says the money they claim came from the country’s 2020 capital budget was insufficient.

The money does not add up!

That’s the statement made by opposition leader and MP for St George north East Tobias Clement after his threat on Wednesday to take legal action against government over the handling of the repurchase of WRB shares in GRENLEC.

In a press Briefing on Wednesday, Clement says after rigorously examining and investigating Grenada’s 2020 budget under its provisional estimate and capital project, he is yet to see where government accumulated the 63 million us dollars to repurchase GRENLEC shares from WRB.

He said if government truly accrued the finance from savings of the country’s 2020 capital budget there would be a 70 to 80 million dollars short fall.

According to the opposition leader the only way he believes government can obtain such money is through the citizenship by investment programme, transformation fund. He is calling for government to clear the air on the matter.

Meanwhile Prime Minister Dr. Keith Mitchell during a special interview with the media on Thursday said his administration did nothing wrong in purchasing GRENLEC shares from WRB.

Prime Minister Mitchell said Grenadians should be grateful for government’s decision to repurchase GRENLEC shares.

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