Gov’t taking steps to ensure oil revenue not squandered

President David Granger addressing Parliament yesterday

Oil production, expected to begin in 2020, “will be the most transformative economic development” in Guyana’s history and the current administration is taking steps to ensure that revenues accrued from the sector will not be squandered but will be invested strategically to build human and institutional capacity, address the infrastructural deficit and provide economic security for future generations says President David Granger.

“Your government is committed to transparency in the management of this sector. We have already made public the petroleum contracts signed between investors and the Government of Guyana,” he said.

Granger’s remarks drew stifled laughter from the Opposition as he addressed yesterday’s opening of the 97th Sitting of the National Assembly, at Public Building, Georgetown. The stifled laughter was mild compared to being drowned out last year by desk thumping and booing by the Opposition in the Parliament Chambers as he delivered his address then.