ATTORNEY GENERAL and Minister of Legal Affairs, Mohabir Anil Nandlall, SC, has dismissed calls for a referendum on the ExxonMobil 2016 profit sharing agreement (PSA), labelling the proposal as “politically driven” and “a waste of time.”
Speaking on his weekly programme “Issues in the News,” Minister Nandlall criticised the Alliance for Change (AFC) and Working People’s Alliance (WPA) for proposing a referendum on an agreement they finalised without prior public consultation or input from the then opposition.

The minister described the AFC’s push for public interference as “ridiculous” and hypocritical, arguing that “they (AFC) hid this contract for nearly two years without telling the people of Guyana that they have signed a contract that is perhaps the most important document ever signed in the history of Guyana.”

Moreover, the legal framework of the PSA explicitly states that it cannot be altered without permission from both parties, rendering any referendum powerless regardless of public sentiment.
“The contract itself says in about 10 clauses…that it cannot be altered unilaterally. It can only be altered with consent by both parties,” the minister said.

Acknowledging the unfavourable terms of the agreement, Minister Nandlall declared that the government will honour the agreement to protect Guyana’s credentials as an honest investment destination until a renegotiation is made possible.
By honouring the agreement, Guyana will solidify itself as a country committed to respecting all international agreements and democratic principles including the rule of law.

According to the AG, the rule of law is imperative to economic success as “obeying the rule of law is instrumental in creating the type of investment that will conduce to large investments coming to your country.”
Committed to transparent governance, the government has publicised its standard PSA model.

Further, all contracts signed by the government going forward will be done in accordance with the established and critically approved PSA model. (DPI)