As condemnation increases over the Government’s intention to pass new legislation to govern Guyana’s Natural Resource Fund, Civil Society, Opposition Members, and Social Commentators today all protested the Bill.
They urged the government to reconsider the new legislation.
Dubbed the Natural Resource Fund Bill, the Bill is expected to replace the one passed by the former APNU-AFC Government back in 2018.
This move by the government has attracted some level of criticism from various sections of the public, including from Civil Society, Opposition Members, Small Party Members, and various business chambers.
Those criticisms came mainly on the issue of oversight of the funds. The Government intends to hand power to the President, including the power to name a Board of Directors of the Natural Resources Fund consisting of not less than three and not more than five members including a Chairman.
The move is intended to remove the 22-member oversight committee that consisted of non-political members. The Government claims that it remains a committee that is large and would take some time to have a consensus on issues.
If passed, the Government will now have total control of the spending of the oil resources, leaving little oversight of the spending.
Hours before the debate on the bill, protestors flanked the entrance to the Arthur Chung Conference Center calling for the Government to reconsider debating the bill.
One protestor was Local Businessman and Social Media Personality, Bryan Max, who said that for years and years “we have seen under the PPP/C how billions of dollars have been wasted in projects.”
He contended that giving so many powers to the Government to spend might not be the right move.
“That is what Jagdeo is good; for wasting Guyana’s Resources. If Jagdeo was spending his own money he would be living in (poor house) today.
“He would be broke because of the number of failed projects behind him, his money would have been done. We don’t want to give full access too to every penny of our oil resources for him to do what he wants to do with just five PPP/C handpicked persons to sit on aboard.
“I don’t think so and that is why I am out here to demand that the Bill be scrapped.”
He called on the international community for help. As of today, the Government is making no attempt to scrap the Bill.
Leader of the PNC/R, Aubrey Norton, who joined the protect also condemned the bill calling it one that will put Guyana in serious economic trouble.
“They are creating a situation where they are taking as much money as they can and do as they like. There is no oversight. There was an element of the bill that suggested that you have to have that which is fiscally sustainable to take out.
“In other words, you can’t take out more than the economy could sustain. They have removed that completely and they are not in a situation, where they can take as much money without virtually paying attention to sustaining the economy.
“The bill is really an attempt to remove the checks and balances and open the floodgates for the PPP/C to steal money.”
This law, according to Norton, which restricts the amount you take out of the funds should remain in order to ensure that we spend wisely.
One civil society member who also took to the protest line said that all the years he has been working as a low-income earner and he is fed up with the fact that only a few higher individuals benefit.
He added that there was hope with the coming oil but as time progresses the cycle, according to him, will continue with the passing of the bill.
“I still struggle from day to day to make ends meet, all because I try to be honest. I want to earn a decent honest living. Nothing seems to be working in favor of the hard-working people in this country.
“I have observed that the administration uses the electorate more so their supporters as a market product, for their friends and family, personal and financial gain.
Whatever the hard-working people trying to do they cannot get past the pole, only a small few in the governing party can get to the stop spending all-out wealth.”
