The legislation for Guyana’s proposed Natural Resources Fund (NRF) should be safeguarded by requiring a two-thirds parliamentary majority for alterations, according to chartered accountant and attorney Christopher Ram, who says in the current political climate laws could be undone by a slim majority with a change of government.
“You pass it one day, you can ‘unpass’ it the next day. Where is the protection?” Ram asked rhetorically at the opening ceremony of an Energy Forum, which was hosted at Duke Lodge, in Kingston, by the Georgetown Chamber of Commerce and Industry (GCCI). He added, “Whenever they feel like, they change the laws to suit themselves. The PPP/C did it; the APNU+AFC is doing it.”
Ram said that as it is currently envisaged the NRF, also known as the Sovereign Wealth Fund (SWF), will not be protected once it is vulnerable to being altered by a one-seat majority in the National Assembly.
