REVENUES derived from natural resources including forestry, mining, waters and land use will join revenues expected from petroleum in a Sovereign Wealth Fund for the benefit of generations of Guyanese to come.President David Granger made this commitment on governance and deployment of revenues from natural resources, during his address to the opening of the 11th Parliament yesterday.

During his 35-minute address to Parliament, he pledged that the Government will exploit Guyana’s abundant assets to achieve their full potential for creation of wealth.

He said: “We will work to develop an economy that generates human happiness in ways that are consistent with economic exploitation [of our] natural resources without jeopardising the opportunity of future generations to satisfy theirs.”

He said that towards this end, the new Government will place the important diamond and gold-mining industries on sound and stable bases.

“This industry has been the country’s largest foreign currency earner for several years. There should be no doubt that the national economy could be significantly enhanced and the livelihoods of hinterland residents and miners enriched if the industry is placed on a surer economic footing.”

The President also stressed that his Government envisages a prosperous Guyana. “We shall craft a long-term, national economic strategy that will ensure economic stability and social security, raise the productive potential of the economy and improve the quality of life for all,” he assured.

By Clifford Stanley