PNCR leader Robert Corbin said the motion would also allow for debate on the operations of the National Insurance Scheme and its investments in CLICO Guyana.

The minority opposition party Alliance for Change (AFC) also called for a criminal investigation into the company.

AFC leader Raphael Trotman said he was not sure a motion in the National Assembly would yield the desired result.

A previous effort, he said, was watered down into a decision for the Parliamentary Economic Services Committee to monitor the actions of the company.

"The government has a majority in Parliament, so moving to get the house to vote for an investigation makes no sense, because it will not see the light of day," said Trotman.

"What may be more practical is to approach the DPP and see if she can force the fraud police to investigate the matter and deal with those found guilty."

Contracts entered into with CLICO Bahamas do not appear to have been standard policy contracts, said the AFC leader, but in many cases could easily appear to be the transfer of funds to The Bahamas that could easily be classified as related party loans rather than policies.

CLICO Guyana is part of the Trinidad-based conglomerate, CL Financial, which ran into financial difficulties and had to be bailed out by the Trinidad and Tobago government.

- CMC