PAC/PEC Suggests AMRC Reform/Demise


By Muhammad Bah The Public Accounts and Public Enterprises Committee (PAC/PEC) of the National Assembly on Wednesday 21st January made suggestions for thereformation of the Assets Management and Recovery Cooperation (AMRC) established since 1992 by an Act of Parliament. This was highlighted during the annual review made by the PAC/PEC for the year ended 2013. Mr. T.S. Njie subject Matter specialist for the PAC/PEC called for the corporation to be transformed after evaluation of its performances. The corporation which is to manage the assets and liabilities of the defunct Gambia Commercial and Development Bank operates as a liability, say Deputies. According to Mr. Njie their report indicates that huge public resources have already being wasted. He noted that the outcome of the corporation shows the loss of millions of dalasis from the investment made. He pointed that it is unnecessary for government to allow such institutions to operated if they are incurring losses. Hon. Alhagie  Sillah of Banjul North highlighted the need to put in strategies and ideas together to transform this corporation from its current predicament. He challenged the administrators to look beyond and transform the corporation into a profit making body than to a liability as it in the moment. Citing how a corporation in Britain transformed itself into a Bank, Mr Suku Singhateh urged the AMRC Management to look at the matter from that angle for it to become vibrant to the country Hon. Speaker Abdoulie Bojang concurred with the suggestions made by his colleagues. He indicated that resources are lost and no gain is made as far as AMRC is concerned. He stated that parliament will engage government to find a solution to this particular corporation, to either dissolve or transform it in order to avoid further wastage of public resources.]]>