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No recollection of Karen’s $71M HCU bailout
Tuesday, July 10 2012
FORMER permanent secretary in the Ministry of Finance Vishnu Dhanpaul yesterday said he had no knowledge or recollection of an alleged assurance by former Finance Minister Karen Nunez-Tesheira that the Hindu Credit Union (HCU) would be provided with a $71 million loan.
On May 16, the inquiry heard evidence from former Commissioner for Cooperative Development Charles Mitchell who said in 2008 the Ministry of Finance called him to get information on the HCU because the HCU president Harry Harnarine was seeking a $71 million loan from the Ministry. But testifying at the Winsure Building, Richmond Street, Port-of-Spain, yesterday Dhanpaul said the Ministry of Finance never offered to give the HCU a loan or to “extend a line of credit” to the union.
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