… says US Ambassador

By Jeune Bailey Van Keric

WHILE acknowledging and applauding Guyana’s implementation of the Natural Resources Fund, United States Ambassador, Ms Sarah Ann Lynch, noted that the operation and the successful management of the fund are heavily dependent on a proactive private sector participating in the administration and oversight of the plan.

The disclosure was made during the 87th Anniversary Luncheon of the Berbice Chamber of Commerce and Development Association (BCCDA) held at Club Eclipse, Main and Church Streets, New Amsterdam on Wednesday.

Speaking to an audience which included Regional Chairman, Mr David Armogan; New Amsterdam Mayor Ms Winifred Haywood; Executive members of the various Chambers of Commerce in Berbice, along with scores of entrepreneurs and Deputy Divisional Police Commander Mr Paul Azore, the Ambassador informed her listeners that to effectively manage the wealth fund, there must be independent, transparent, inviolable, and non-partisan and not bi partisan principles.

“The law provides that the Public Accounting and Oversight Committee will have representation from private sector bodies including the Bar Association of Guyana, the Guyana Press Association and the Private Sector Commission of Guyana…. I urge you to take the lead in utilizing new and existing mechanisms such as community meetings and workshops to educate the populace to ensure the Fund is implemented in a way that can make all Guyanese proud,” she said.

She said, too, that the BCCDA and its private sector partners can be involved in ensuring transparency in accountability, oversight, and management of the Fund to help ensure that there is no misuse of the Fund and that all Guyana benefit from its operation.
“In all your efforts for transparency, always remember that you have the support of the international community in these efforts; we all have an interest in seeing the oil revenue lead to the best possible outcome for Guyana and its people,” she said.

The Ambassador noted that advocacy by the BCCDA and its sister private sector agencies must be directed at ensuring that the Natural Resources Fund remains sacrosanct.
Underscoring the need for the Fund to be non-partisan so that Guyanese can benefit not just for today, but for generations to come. Ambassador Lynch noted the Fund must not be tied to any part of a political machinery.

“This is not about politics. It’s about economics. You are the representatives of the Private Sector, you must do your part to ensure that the decisions your organisation make are impartial, objective and free from political bias so that they remain focused on economics rather than politics,” she warned.