Portion of oil funds to be invested in improving welfare of Guyanese
President Dr. Irfaan Ali
President Dr. Irfaan Ali

–President Ali talks up educational, employment opportunities for young people
–wants to meet with youth groups, including from political parties, on shaping Guyana’s future

SOME of the money from the Natural Resources Fund, which now stands at approximately US$534 million, will be spent on improving the welfare and well-being of citizens, President Ali has announced in his New Year’s Day message.

“It is for that reason that the new legislation provides a mechanism by which the Parliament will approve the transfer of funds for projects and programmes that the government has to carry out to raise your standard of living; to improve your circumstances, and to give you a better life,” the President said as he noted the unparliamentary behaviour of the APNU+AFC last Wednesday.

Members of Parliament (MPs) of the Coalition had disrupted the House and verbally abused government MPs and Parliament staff as they sought to prevent the passage of the Natural Resources Fund Bill of 2021.

In his New Year’s Day message to the nation, the President also noted that the opposition and certain media outlets tried to mislead their audiences into believing that he will be appointing the Board of Directors of the Fund, unilaterally, and will have control over them.

“Nothing is further from the truth. While, as President of this country, I am obliged to sign Letters of Appointment, the Board will include a person selected by the National Assembly, all parties therein, after consultation and debate among themselves. It will also include representation from the private sector, which gives a voice to civil society in the newly-established decision-making body responsible for overall management of the Fund; mind you, a decision-making body that did not exist under the APNU-AFC Bill,” President Ali said, adding:

“The Opposition brawl in the National Assembly was to prevent you from hearing all this.
Of course, I know that you, the people of our One Guyana, expect to see benefits from the NRF flow to you, to improve your lives now; to deliver more jobs and better wages. Therefore, it is obvious that some of the money from the NRF, which now stands at approximately US$534 million, must be spent on your welfare and well-being.”

WILL BE ACCOUNTED FOR
Every cent of the money spent, the President said, will be accounted for.

“When transfers are made, to what department, for what purpose, and the results of the spending, all have to be made public. It has to be audited; the audited report has to be presented to the National Assembly, and, of course, the PAC will have a chance to review the Auditor General’s report,” he added.

The World Bank has projected that over the lifespan of oil-and-gas production, Guyana could earn US$72.8 billion in revenues from the multiple offshore projects that will be operational.

The President contended that with full and adequate supervision by reputable persons, nominated by Parliament and the private sector, a portion of those funds should be spent on improving the lives of the people of Guyana; all of them, and bettering the conditions in which they live.

“Sadly, but truly, that is what the Opposition parties fear,” President Ali said, adding:

“They believe that if your government delivers the development, the betterment, the advancement you want and deserve, they might become irrelevant. They do not regard politics as a contention for better policies and governance; they regard politics as nothing more or less than a battle for power. That is why we had the display in the National Assembly of violence and intimidation. That is their default strategy; to whip up antagonism and hostility based on misrepresentation, misbehaviour and mischief.”

On a different note, he said that all Guyanese are interested in a better future for themselves, children and grandchildren, and his government is committed to delivering in this regard.

URGENT ACTION
“So, as darkness sets on the old year, and brightness rises on the new, I announce that I propose two urgent actions:

“First, I want to create new educational and work opportunities for young professionals in our country; I want them to gain experience, and to become educated and trained to be owners and managers of all sectors of our society. While, at this time, we must rely on foreign know-how in the oil-and-gas sectors, the ground must be readied now for young Guyanese to assume those positions, regardless of their race, colour or creed,” he said.

President Ali also said that his ministers have already been advised to implement policies throughout their ministries and departments, and in the award of scholarships and the building out of training institutions to this effect.

“The second thing that I announce now is my intention, as President, to hold meetings with individual organised groups of young people, including the youth arms of all the political parties, starting as soon as these can be arranged. I want to hear their views; I want to learn how they think we should shape the future of our One Guyana. I want to dialogue with them about the kind of country they wish to inherit, and how they will advance it,” the President told the nation.

He added: “My fellow countrymen, the next generation must be better than this one, if not, our country will regress;not progress. When I look at my little son, in all his innocence, I want the best Guyana for him; one that is free of racism, discrimination and violence; one that is firmly set on the path of harmonious relations and equity for all Guyanese.”

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