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FOR a very long time Guyana’s natural resources potential has been recognised and acknowledged, but unfortunately it has remained relatively untapped largely due to the long period of economic stagnation under the 28-year dictatorial rule of the PNC government.
It is true that the PNC government made attempts at unleashing our natural resources potential and head the country in the direction of industrialisation.
However, those efforts ended in abject failure because of poor management and administration and a lack of commitment towards the socio-economic advancement and development of this country. One example of this is the Upper Mazaruni Development Project which should have seen us having a huge hydro-electric scheme, thus solving our energy problems.
But at the very initial stage this project flopped because of a lack of financial resources and this resulted in hundreds of millions of dollars going down the drain which, unto this day, has not been properly accounted for. But at that time those who are now lustily singing the transparency and accountability song were quiet as a lamb.
In fact, workers were denied a $14 per day minimum wage by the then prime minister under the guise of the need to finance the Upper Mazaruni Development Project when, at a TUC May day rally, he asked the workers whether they wanted the “hydro or $14” and his henchmen, who surrounded the microphone shouted, “hydro.” Well as everyone is fully aware, the Guyanese people got neither.
There were also the glass factory; clay brick factory; the bicycle assembly factory and the vehicle assembly factory (Tapir) among others which died before they really ever got started.
Had all these projects fructified, Guyana surely would have enjoyed better economic and industrial fortunes, but unfortunately they all failed miserably much to the detriment of this nation from which we are still reeling to a large extent.
And to add salt to the wound, many of the successful ventures under the PPP governments of 1957-1963 were also brought to their knees including the agriculture drive; the Kingston pasteurisation plant; the rural electrification programme and the expanding education and health care systems among others.
Today, this government is aggressively and assiduously pursuing the path of tapping our natural resources through foreign direct investment; local private sector investment; public/private sector investment and public investment. This policy has resulted in several foreign companies exploring for offshore and onshore oil and other minerals. We have also seen investments which have caused the once ailing bauxite industry to be resuscitated as well as massive investments by local entrepreneurs.
In the private/public sector partnership arena, there have been many successful ventures and in this regard most notable is the Berbice River Bridge.
On the cards are several major projects,which, when realised, will transform the economic and industrial landscape of this country.These include the Amaila Falls Hydro Project; the deep water harbour and the Linden/Lethem road.
The recent meeting between representatives of Guyana and Brazil on paving the way forward for some of these projects such as the deep-water harbour and a hydro- power project in Region 9 concluded on an optimistic note.
This current cooperation between Guyana and its massive southern neighbour is a good example of realising the south/south development model which is a popular one, and in light of the fact that the technical and financial assistance from the ‘rich north’ keep drying up.
Finance Minister Dr Ashni Singh, alluding to the Guyana/Brazil cooperation, noted that while there has been a general recognition of the potential that exists as a result of Guyana’s proximity to Brazil, for a long time, realising this was restricted by physical access. However, he said the “impediment is being removed.”
This augurs well for the future development of both countries and one would hope that the projects under the Guyana/Brazil umbrella would be successfully executed and realised, as it would pay dividends for both countries.
It is true that the PNC government made attempts at unleashing our natural resources potential and head the country in the direction of industrialisation.
However, those efforts ended in abject failure because of poor management and administration and a lack of commitment towards the socio-economic advancement and development of this country. One example of this is the Upper Mazaruni Development Project which should have seen us having a huge hydro-electric scheme, thus solving our energy problems.
But at the very initial stage this project flopped because of a lack of financial resources and this resulted in hundreds of millions of dollars going down the drain which, unto this day, has not been properly accounted for. But at that time those who are now lustily singing the transparency and accountability song were quiet as a lamb.
In fact, workers were denied a $14 per day minimum wage by the then prime minister under the guise of the need to finance the Upper Mazaruni Development Project when, at a TUC May day rally, he asked the workers whether they wanted the “hydro or $14” and his henchmen, who surrounded the microphone shouted, “hydro.” Well as everyone is fully aware, the Guyanese people got neither.
There were also the glass factory; clay brick factory; the bicycle assembly factory and the vehicle assembly factory (Tapir) among others which died before they really ever got started.
Had all these projects fructified, Guyana surely would have enjoyed better economic and industrial fortunes, but unfortunately they all failed miserably much to the detriment of this nation from which we are still reeling to a large extent.
And to add salt to the wound, many of the successful ventures under the PPP governments of 1957-1963 were also brought to their knees including the agriculture drive; the Kingston pasteurisation plant; the rural electrification programme and the expanding education and health care systems among others.
Today, this government is aggressively and assiduously pursuing the path of tapping our natural resources through foreign direct investment; local private sector investment; public/private sector investment and public investment. This policy has resulted in several foreign companies exploring for offshore and onshore oil and other minerals. We have also seen investments which have caused the once ailing bauxite industry to be resuscitated as well as massive investments by local entrepreneurs.
In the private/public sector partnership arena, there have been many successful ventures and in this regard most notable is the Berbice River Bridge.
On the cards are several major projects,which, when realised, will transform the economic and industrial landscape of this country.These include the Amaila Falls Hydro Project; the deep water harbour and the Linden/Lethem road.
The recent meeting between representatives of Guyana and Brazil on paving the way forward for some of these projects such as the deep-water harbour and a hydro- power project in Region 9 concluded on an optimistic note.
This current cooperation between Guyana and its massive southern neighbour is a good example of realising the south/south development model which is a popular one, and in light of the fact that the technical and financial assistance from the ‘rich north’ keep drying up.
Finance Minister Dr Ashni Singh, alluding to the Guyana/Brazil cooperation, noted that while there has been a general recognition of the potential that exists as a result of Guyana’s proximity to Brazil, for a long time, realising this was restricted by physical access. However, he said the “impediment is being removed.”
This augurs well for the future development of both countries and one would hope that the projects under the Guyana/Brazil umbrella would be successfully executed and realised, as it would pay dividends for both countries.
