Latest update November 24th, 2024 1:00 AM
Latest News
- Windfall taxes do not violate petroleum contract – T&T Energy Expert
- All oil projects in Guyana performing above expectation in the world’s premier deepwater zone- Exxon CEO tells shareholders
- More than 100 Palestinians killed in Israeli attacks on Gaza in 48 hours
- GECOM to continue discussions on introducing biometrics before engaging stakeholders
- Corentyne fire that killed mother and four children maliciously set – GFS
Oh, the possibilities if Guyana is governed correctly!
DEAR EDITOR,
With the discovery of Guyana’s oil resource, it brings with it the opportunity for Guyana to be put forward into the modern age, but only if governed right, as even with the finance and resources, some of the world’s top oil-producing countries are still underdeveloped and their citizens living in a state of poverty.
How is this possible you might ask?
To answer this question, we must first look at what poverty is. Poverty is a political construct; people are poor because of the decisions made by the politically powerful.
Some oil-rich countries remain poor because the funds are not used to benefit the country or the citizens in any way. It is as if the funds never existed, because there is no disclosure on what it is being used for, as in the case with Guyana’s land, which large portions have been sold off to foreign companies and yet there is no improvement in the lives of the citizens.
In order for Guyana to avoid this, we must first put policies in place to ensure that there is no misuse of the funds. A revenue oversight committee of citizens should be organized to monitor the process so as to ensure that the funds are being used for their required purposes.
After the funds are properly secured, we can then focus on how it can be used to develop the country. Tangible Development – not just hearing statements of how it is being used, but actually seeing the benefits. For example, infrastructural developments, better health care facilities and educational institutes which will cater to developing Guyana’s human resource.
As you may know, Cuba is known for having some of the best doctors, this is so because they have invested in programs and institutes to develop the quality of medical care in their country. Therefore, investing in our citizens would play an essential part in the overall development of Guyana. They would have access to higher levels of education in areas such as health care, agriculture, etc., without having to spend millions of dollars to travel abroad to study. Instead, foreigners would look to our country as a base where they can travel to and study. All this can be made possible if Guyana is governed correctly.
Yours Respectfully
Fernando Alli
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