PRESIDENT Dr. Mohamed Irfaan Ali has given full assurance to all Guyanese that when it comes to transparency and accountability, his administration will do all within its power to ensure not only that the Guyanese people are kept informed of all developments in relation to the management of the country’s resources, but even more importantly, that such resources are managed in a transparent and accountable manner. Indeed, it is in the best public interest for everyone to know how the resources of the country are being managed, and future plans for the growth and well-being of this resource-rich nation.

This re-assurance became all the more necessary in light of several unfounded criticisms by some opposition elements to the effect that the PPP/C administration has not been pro-active enough in terms of auditing of expenditures prepared by ExxonMobil regarding its oil-drilling operations in the country.

Nothing could be further from the truth. If there is one defining difference between the PPP/C and the previous APNU+AFC regime, it is on the issue of transparency and accountability, especially as it relates to the oil and gas industry. It was the former APNU+AFC administration that kept secret from the Guyanese people, the US$18M signing bonus it got from Exxon- Mobil, which was made public only after a leaked document from the Finance Ministry was brought to the open. Exactly why the then Granger administration would want to keep the nation in dark on something as fundamental as a signing bonus is at best mind-boggling, but it does raise some serious questions regarding its own credibility and the extent to which it can enjoy the trust and confidence of the Guyanese people on fundamental national issues.

For the opposition to now pretend as though it is the custodian of transparency and accountability norms is not only disingenuous, but also smacks of dishonesty and hypocrisy and sounds shallow, having regard to its past experiences in its dealings with the Guyanese people. Unfortunately, there are some who ought to know better, but for reasons best known to themselves, they seem bent on parroting the APNU+AFC line without giving enough thought to the nuances and complexities involved in the conduct of audits of such magnitude.

As indicated by both President Ali and Vice-President Jagdeo, the PPP/C administration is not only fully committed to having an audit done of Exxon’s expenditures, but there are plans to also strengthen local auditing capacity in order to have such audits done, using already reputable and established auditing firms and agencies in the country. Among these are the Guyana Revenue Authority (GRA) and the Office of the Auditor General, two of the statutory agencies responsible for the auditing of public accounts.

This in essence is what local content is all about. It is about providing opportunities for locals to take opportunities of available openings in the oil and gas sector, which will allow for some of the money to circulate in the local economy. Granted that the audit of oil and gas is a relatively new and complex undertaking, there is no reason why local auditing companies and agencies cannot partner with overseas companies to ensure that the requisite auditing skills and competencies are available for thorough and comprehensive audits in the sector.

Indeed, this approach to governance has always been one of the hallmarks of the PPP/C administration. It was under the PPP/C administration that several institutions were established to ensure that public accounts are properly accounted for, and the necessary legislation put in place to ensure compliance. The strengthening of the Auditor-General’s Office and the establishment of the Integrity Commission are only a few of the several accountability measures put in place to ensure that the Guyanese people are given the best value for their money.

Auditing is an important element of all business operations, something that is recognised both by the Guyana Government and ExxonMobil. To impute that the government is less than keen on ensuring that such audits are done in a timely and comprehensive manner, or that there is some ‘vested’ interest in not having an audit done is unfair to those responsible for the sector and fails to take into account the several aspects of work already done by the government and its agencies to ensure that everything is done above board and in the best national interest.