Provisions of Natural Resource Fund Act were scrupulously observed

Dear Editor,

I refer to the front page lead story of the Kaieteur News newspaper dated Monday, 7th February, 2022, boldly titled: “After withdrawing $126B ‘illegally’ from oil fund…Govt, now tables motion seeking Parliamentary approval to cover tracks. The news item relative to this headline was carried on pages thirteen and sixteen of that edition of the said newspaper.

In the aforesaid article it is published that:

“One week after presenting its $553 billion Budget for this year and including monies withdrawn ‘illegally’ from the Natural Resources Fund (NRF) or the oil account, the People’s Progressive Party (PPP) Government is now scrambling to seek parliamentary approval to cover itself from possible legal action by civil society members.”   

The publication further posited:-

“… the government quickly submitted a motion to the National Assembly, seeking approval to include the sums into the National Estimates for this year.”

This article was intended to convey, and, did in fact convey the clear and distinct impression that the Government of Guyana has acted illegally, unlawfully, corruptly, and is now clandestinely taking steps to seek coverage for these alleged illegal, unlawful and corrupt actions.

1 am to inform that the aforesaid publication is not only inaccurate and misconceived but is contumaciously libelous and is intended to tarnish the good name and reputation of the Government of Guyana, as well as, the character and standing of every member of the Government.

For the record, 1 am compelled to inform that to date and certainly at the time of the impugned publication, not a single cent has been withdrawn from :he Natural Resource Fund. The Natural Resource Fund Act, 2021, No. 19 of 2021 (hereinafter referred to as “the NRF Act”) provides for withdrawal from the Natural Resource Fund in the manner set out in the First Schedule. The procedure for withdrawal is set out in Sections 16, 17 and 19 of the NRF Act. Significantly Section 17 (2), permits for the first ensuing year, that is, 2022, the withdrawal of the total balance accumulated in the account as at the date that the Act comes into operation. The NRF Act, 2021 was passed in the National Assembly on the 29th December, 2021, duly assented on the 30th December, 2021, by His Excellency, The President and published in the Official Gazette of that date.

However, Section 19 of the NRF Act mandates the Minister responsible for Finance to request the National Assembly to approve the withdrawal from the Fund, and, permits the said withdrawal to be included in the annual budget proposal for that year. Importantly, and in accordance with Section 19 of the NRF Act, the sum which is to be withdrawn from the Fund for this fiscal year has been included in the annual budget proposal; concomitantly, a Motion was circulated in the National Assembly on the 1st February, 2022, by the Minister responsible for Finance, requesting the National Assembly to approve the aforementioned sum to be withdrawn from the Natural Resources Fund. This Motion is yet to be considered by the National Assembly. It is only if this Motion is approved that monies will be withdrawn from the said Fund. Therefore, the provisions of the Natural Resource Fund Act were scrupulously observed both in their letter and spirit.

In the circumstances, the KN has been  requested to forthwith publish a retraction of the offensive and libelous headline and portions of the said article, and, also publish an unconditional apology to the Government of Guyana, giving same equal, if not greater prominence, enjoyed by the libelous publications.

Compliance with this request may influence the reserved right of the Government to institute legal proceedings in respect of the offensive and libelous publication, to which this letter refers.

Please be guided accordingly.

Yours faithfully,

Mohabir Anil Nandall SC MP

Attorney General & Minister of Legal Affairs