OPPOSITION representative on the Natural Resource Fund (NRF) Investment Committee Terrence Campbell has gained the backlash from General Secretary of the People’s Progressive Party (PPP) Dr. Bharrat Jagdeo, who has strongly rejected allegations regarding the management and oversight of the (NRF).
During a press briefing at Freedom House on Thursday, Jagdeo addressed Campbell’s claims, detailing the reforms enacted under the PPP to strengthen the NRF, and questioning Campbell’s political track record and credibility.
Responding to Campbell’s assertion in the Stabroek News newspaper that the NRF committee functions merely as “rubber stamps”, Jagdeo highlighted the robust systems in place to safeguard Guyana’s national patrimony.
As he stated, “He (Campbell) claims to be the sole voice safeguarding the national patrimony; not the members of the National Assembly, not the Auditor General, not the Oversight Committee, not the board members of the board of directors. Apparently, they’re all rubber stamps. But he’s taking on the responsibility for national patrimony.”
The General Secretary argued that Campbell’s criticism lacks legitimacy, as several independent entities are tasked with monitoring the fund. These include the Public Accountability and Oversight Committee and the Board of Directors, which provide regular reports to Parliament.
Moreover, Dr. Jagdeo used the opportunity to outline key legislative changes introduced by the PPP to ensure transparency and accountability in the management of the NRF.
“We removed any spending on the fund without parliamentary approval. So, under his model; Jordan’s model, the PNC model, you could have gone and spent money from the NRF without parliamentary approval. There were direct charges on the fund; we removed that,” he said.
He further emphasised the mandatory publication of all receipts to the NRF in the Official Gazette, and the requirement to notify Parliament within three months of receipt. “And if you don’t, the Minister of Finance could be charged, and there’ll be a 10-year jail penalty attached to this,” he said.
Jagdeo also highlighted the role of Parliament in overseeing every expenditure from the NRF. “So, all of these things have been done, and now, clearly, every cent has to be appropriated by the Parliament,” he said in addressing the claims.
Furthermore, Dr. Jagdeo questioned Campbell’s independence, pointing to his longstanding association with the opposition. “He says he’s an independent voice, but let’s examine how independent he is. He was the opposition PNC’s nominee to the investment committee. Is that independence? This is
another pretence; people who are intensely political trying to gain some sort of acceptance and credibility by portraying themselves as erudite and independent,” he said.
The General Secretary also referenced a post made by Campbell following his resignation from the Alliance for Change (AFC)-aligned political party, ANUG. “When he resigned, he made a post saying, ‘Today, a knife was stuck into my back by my own people. I have supported the PNC, APNU, AFC in every
general election since I started voting.’ That’s his own admission. My entry into politics, he said, was purely to deny the PPP a majority. This is coming from the donkey’s mouth,” Jagdeo said.
Jagdeo concluded by dismissing Campbell’s criticisms as politically motivated and baseless, emphasising the PPP’s commitment to safeguarding the NRF. With multiple oversight layers and reforms to the NRF’s governance, Jagdeo maintains that the fund is managed with transparency and accountability, ensuring its benefits reach all Guyanese.