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Focus on how Guyana is being short changed, rather than on Jagdeo
DEAR EDITOR,
There are far more important issues for the country to ponder than to focus on any party’s internal politics on candidate selection and/or Gecom and/or to take a pot shot at Bharrat Jagdeo (see missives in KN on Aug 28). Letters are misdirected.
The country’s natural resources (oil and gas) have been contracted away virtually for free. That should be our main complaint. If we focus on getting a fair share of revenues from our oil and gas, we would become a Dubai or Singapore or Hong Kong or Taiwan. This should be the focus of the peoples’ attention and of opinion polls (Cadres, NACTA, TRPI, etc.) . How does the nation feel about their resources being given away with virtually miniscule benefits to the country? The people are not pleased with the contracts as NACTA opinion polls I conducted in 2018 and 2019 revealed. They know a bad contract when they see it. Thank you KN for focusing on how Guyana is being short changed on oil revenues.
The economy has not been doing well. People have been suffering in all communities because money is not circulating to improve lives. There are complaints everywhere. Voters would hold responsible those who negotiated this terrible contract. We are getting 2% royalty from one oil company and 1% royalty from another. And who knows what amount from another oil company!
Bad news on how Guyana is short changed keeps coming in. Worse, these royalties are deducted as expenses in the overall cost of operations – giving new meaning to the term royalty as used in study of the subject of economics (one of my fields of studies in post-graduate studies). So in effect, the country gets less than 2% and 1% respectively. In addition, Guyana pays for the all costs of operations of drilling and recovery of the oil before obtaining the 2% and 1% royalties which makes the royalty payments a mere fraction of those original contracted amounts. When all is said and done, the country gets virtually nothing – certainly not the full 2% and 1%. Other countries get between 10 and 20% royalties for natural resources before expenses are deducted.
Guyana is not getting a fair share of its patrimony. Some say Guyana is being robbed blindfolded. And commentators are focusing on a Presidential candidate, Gecom, and Jagdeo.
Mr. GHK Lall noted that the PPP Presidential candidate was selected in a democratic vote of the party’s Central Committee. “It is a settled matter”. Mr. Cyril Walker commented on the powers of Gecom – it can engage in house-to-house registration and it can discontinue the process, etc. No argument there!
Gecom is a constitutional body. No court will intervene in Gecom’s work as long as all eligible voters are on the list, and it is preparing for free and fair elections. Gecom is an independent agency, even though its members are appointed by political parties and may take sides.
On influence of former President and now Opposition Leader Jagdeo, in my latest NACTA polling in early July and early August, as indeed also found in February and April 2019, Jagdeo remains the most popular political leader in the country. He does have “god-like” influence in the PPP base as GHK Lall surmised. He also has cross racial appeal as I found.
If Jagdeo were on the ballot, he would easily win the coming election. But he can’t run for President. So instead of focusing on certain matters we can’t change, why not focus on how we can enrich the country by seeking to renegotiate the oil contracts. If the royalties can be 10% or even half of that, Guyana will be wealthy. The country can become a Dubai or Singapore by getting its fair share in line with what other countries get in royalties. Everyone can become a millionaire in US dollar value.
Yours truly,
Vishnu Bisram
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