Statement from PSC on CARICOM Private Sector Organization’s challenge on Local Content Act
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“The Private Sector Commission (PSC) questions the legitimacy of the CPSO which constituency consist of some Pan Caribbean companies noting that the organisation does not represent the interest of the local private sector.

The Commission notes that the purpose of Local Content straddles countries, regions and continents and forms an integral part of the Petroleum Sector.

The PSC wishes to note, in fact, that Trinidad and Tobago has had in place for more than 50 years, a regime of local content ‘predicated on maximising citizens’ ownership, control and financing of all activities along the energy resources sector’, thus giving preference to Trinidadians.

The Commission is satisfied that the policies expressed in Guyana’s Local Content Act are not dissimilar to those of Trinidad and Tobago’s and do not violate the revised Treaty of Chaguaramas.

We therefore stand by and fully endorse the aims and objectives of the Act which are designed to ensure that Guyanese companies and nationals benefit from the Oil and Gas sector,”

— Guyana’s Private Sector Commission.

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