NCN near financial collapse; APNU+AFC owes $16.7M for campaign ads – Minister McCoy


Minister of Public Affairs Kwame McCoy on Thursday said an assessment of state media entities has unearthed worrying findings and that the National Communications Network (NCN) is near financial collapse.

Minister McCoy, who works out of the Office of the Prime Minister, said President Irfaan Ali is already in receipt of a report which addresses the state of affairs at the state-owned NCN, Guyana Chronicle and the Department of Public Information (DPI).

During a virtual press conference, he said the assessment of these agencies found a lack of prudent financial management, nepotism, poor interpersonal relations, poor working conditions and polarization of staff.

McCoy said NCN was driven by management under the previous administration to “near financial collapse”.

“The situation is very frightening,” he added, explaining that the COVID-19 situation affected the revenue flow.

Minister of Public Affairs Kwame McCoy

McCoy said NCN is owed by advertisers in excess of $190 million by mostly Ministries and Government agencies.

He disclosed that the APNU+AFC coalition owes NCN some $16.7 million for advertisements placed during the 2020 elections campaign season. He said the PPP did not use NCN for any advertising during the elections and doubted whether any money is owed in that regard.

“NCN has been receiving government subvention and when we examine what the company has in terms of finances you see it’s in a very terrible situation and when you examine what NCN has to work with today, the tools, there has been a degeneration of the resources there… things are totally bad,” McCoy said.

He said there are currently three vehicles not in working condition but could have been fixed for less than $100,000 but the previous management decided to rent vehicles at a cost of $7,000 per day.

McCoy told reporters that the Guyana Chronicle and DPI are plagued with bad and deficient management.

He described the situation as “top-heavy staffing…it’s just about providing opportunity for friends and family and the critical matters are left lagging.”

The Minister said the new PPP government will reorganise, retool and find new management to take the entities to the next level of success.

He said there will be a series of financial management interventions over the next few weeks. Already there have been temporary appointments to head NCN and Guyana Chronicle.

  1. Xhrp2wkb1 says

    APNU+AFC has left Guyana in financial ruin. When are they going to pay back this debt and the election court cases debts? Getting that from them is like pulling teeth.

    These people should never rule Guyana again until they get rid of all the senior riggers and the junior riggers. And even then we, the people, will think about it.

    It is written in the good book that it is fated unto Guyana for PNC to break and PPP to build.

  2. Kamal Ramdass says

    as ones sow good evil deeds intent mindset thinking so shall ones reap accordingly in like manner…thats the law of the great spirit,when man’s law is not in line with gods law,ONES individual country citizenry shall get APNU/AFC/PNC communist socialist lefties liberals ect.degenerates as they’re leaders=crooks thives robbers oppressors GREEDY SELFISH people individuals ect.SATANICS running their country…

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