The opposition Antigua Labour Party (ALP) has questioned a press release issued by the government, which claims that Sir Alister McIntyre has made a public statement supporting the administration’s intention to sell-off the State Insurance Corporation.
The ALP has drawn attention to the fact that the statement, purportedly made by McIntyre, is actually issued by the government, which says that he was responding to a question asked of him.
“Presumably, Sir Alister was responding to a hypothetical and general question put to him by a UPP public relations officer, and having secured a general answer, the UPP government is trying to associate Sir Alister’s name with their controversial plan to sell-off a national asset to selected people,” the ALP said.
“Careful reading of the words actually ascribed to Sir Alister in the government press release reveals that he addressed the general issue of whether governments should be a regulator of an industry in which it is also a competitor. Sir Alister could not possibly comment on the merit, or lack of it, of selling-off the State Insurance Company since he has no access to its books and records, nor of the potential it has as a contributor to the Antigua and Barbuda’s sustainable development,” the ALP continued.
“We deplore this attempt to involve a widely respected Caribbean figure in a domestic political matter by subterfuge. The UPP government should be ashamed of itself,” the statement said.
The ALP added, “Notwithstanding this clumsy attempt to deceive the people of Antigua and Barbuda, the fact remains that the UPP wants to sell State Insurance Company for a one-off capital gain which the IMF has told them must be used to pay down the huge borrowings with which they have indebted the country over the last six years and ten months.
“But, we maintain that the State Insurance Corporation is a national asset, which contributes sustainably to the well being of the people of Antigua and Barbuda and any sale of its shares should be no more than 40% and it should be done by public offering so that everyone could have an opportunity to own a part of the company in a transparent manner.
“Finally, we point out that there is no conflict between government being the owner of State Insurance Corporation and also a regulator of the insurance business. These two activities are carried out by two separate government agencies that are independently managed. What should happen is that the government should strengthen the Office of the Insurance Regulator including its capacity to act independently.”
The ALP statement concluded, “We point out that in the United States, the United Kingdom and elsewhere, government entities such as Fannie Mae and Freddie Mac compete in industries regulated by governments.”
