The Opposition raised the issue of the closure of the Hindu Credit Union (HCU) in Parliament Friday suggesting that the government did not treat the organization fairly.
The House was debating a motion brought by the United National Congress (UNC) to ask the government to take immediate steps to help the tens of thousands of depositors who have been affected by the collapse of credit union.
Opposition Leader Basdeo Panday promised that a UNC government would pay all outstanding monies to HCU depositors. The former prime minister said the government has a moral and quasi-legal duty to bail out, pointing out that the HCU collapse was in part because the state was negligent.
He pointed out that the authorities did not perform their statutory duty to protect the depositors because they failed to undertake the necessary supervisory and investigatory responsibilities.
The Couva North MP also accused the government of ignoring all the warning signs, which began to be seen since 2002. He claimed that instead of properly investigating the HCU the government deceived the depositors and misled citizens into thinking all was well at HCU.
St Augustine MP Vasant Bharath dismissed reasons given by Finance Minister Karen Nunez-Tesheira for the CLICO bailout, calling it "twisted logic to justify discrimination".
Bharath told the House the UNC had no problem with the CL bailout but was just asking that the same rules apply to the HCU.
He charged that the treatment of HCU and its depositors was politically motivated and an indictment on the government showing that it acted in a discriminatory manner.
He said the discrimination is a pattern of the Manning administration that is evident in many facets of national life including:
- the distribution of homes under the state housing program
- the award of government contracts
- the neglect of agriculture
- the appointment of ambassadors
- the funding to cultural activities
- the national awards given on Independence Day
- the various court judgments against the Government
- the prime minister shunning certain cultural functions
The MP implored the government to "do the right thing despite the fact that the minister of finance and her family have no money in the HCU".
Labour Minister Rennie Dumas intervened to accuse the UNC of using Parliament as a vehicle for the "most vile display of racial claims" and called Bharath's contribution a "blatant attempt to use this honourable institution to create racial war".
Bharath denied the charges, noting that he never mentioned race in his contribution.
But Dumas said Bharath's comments "unmasked" the UNC as an organisation which cared nothing about the law.
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