D’Aguiar Calls For Sound Currency
CHAIRMAN of Banks D.I.H. Ltd., Mr. Peter D’Aguiar, comparing President Desmond Hoyte with Soviet President Mikhail Gorbachev said both leaders have been very unlucky. He did not elaborate.
D’Aguiar was reporting to the 33rd Annual General Meeting of shareholders of the company at Thirst Park on the East Bank, last Saturday afternoon.
Because of his serious illness, Mr. D’Aguiar, who was in a wheel chair, had recorded his speech which was played to the thousands of shareholders and directors of the company. He informed shareholders he was suffering from prostate cancer and arthritis of the spine.
But in a display of grit and determination, D’Aguiar could not resist the temptation to speak out in a strong voice about the need for democratic freedom, a free market economy and a fresh look at the monetary policies of countries in the Caribbean including Guyana.
The ailing Guyanese businessman, once described by President Hoyte as a model entrepreneur, denounced the use of ‘paper money’, adding that it does not ring true.
He called on Caricom leaders to mount a movement for sound monetary policies with a common currency to be worked out in the first instance by the heads of Central Banks in the individual regions.
Mr. D’Aguiar explained that in this context, the Bank of Guyana will have to set up a portfolio of hard currencies and enter into monetary agreements with banks in the United Kingdom and Canada.
According to Mr. D’Aguiar, the implementing of such policies will see an upsurge in the free enterprise system, and the take-over of some of the key industries in the country such as bauxite and sugar, with the electricity and telephone services being taken over by companies based in Japan or the United States.
The Chairman of Banks D.I.H. Ltd., described Guyanese as a hardworking and innovative people and praised the company’s eleven-member management team, expressing confidence in its ability to maintain the high performance of the business enterprise.
The 6 p.m. scheduled starting time for the meeting being called to order, was delayed for about 20 minutes be cause for the first time in 33 years Mr. D’Aguiar was late for the annual event.
This lapse was understandable in the circumstances, and although the Banks D.I.H. Ltd. Chairman apologized for his lateness and having to leave before the meeting ended, yielding to the advice of his doctors, his indomitable will and dedication to the company and its shareholders were on display, for all to witness.
As Mr. D’Aguiar’s private car slowly left the Thirst Park grounds, several shareholders waved goodbye, with Mr. D’Aguiar’s last words still hanging in the air…“the strain is great but God willing, I hope to be back next year.”