Latest update April 6th, 2025 12:03 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Understanding the draft Local Content Policy (Pt. 9)…Provisions hinder regulator’s independence

Mar 01, 2021 News

Kaieteur News- Even though the draft Local Content Policy categorically calls for the regulator of local content to be free from political interference, there are several conditions which hinder this objective from being fully realized or protected.
According to the draft policy, once the Petroleum Commission comes on-stream it would be tasked with implementing the document and its relevant regulations. It would be doing so through a dedicated Local Content Secretariat. That body however would be overseen by an Inter-Agency Coordinating Committee. It would be made up of senior officials of the various government ministries and agencies that would be charged by the respective Minister to oversee the implementation of the Local Content Policy.
The Committee would have several functions which include:
a) Reviewing and supporting the work of the Local Content Unit
b) Coordinating research and development and other capacity development programmes
c) Coordinating and supporting collaboration among the Local Content Unit and other government stakeholders
d) Promoting local supplier and enterprise development
e) Removing administrative barriers to local participation in the sector
f) Reporting on local content and capacity development activities and achievements
g) Managing development and periodic review of this local content policy
h) Recommending changes to other government policies, legislation and/or regulations that impact on local content and capacity development
According to the draft document, a “Multi Stakeholder Working Group on Local Content” will be set up and chaired by Government, involving representatives of key stakeholders’ groups, including the major Operators, international services companies, local private sector including the financial sector, education and training institutions, non-governmental organisations, labour and civil society.
The Working Group would only be able to advise the Inter-Agency Coordinating Committee and support collaboration and coordination among and between stakeholder groups and allow for early action on critical items required for operationalizing of this Local Content Policy.

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

 

THE BLUNT OF THE DAY

Sports

‘One Guyana’ 3×3 Quest tips off today

‘One Guyana’ 3×3 Quest tips off today

Apr 05, 2025

…19 teams to vie for top honours Kaieteur Sports- Basketball teams from around the world will be in action this weekend, when the ‘One Guyana’ 3×3 Quest gets underway. Competing for a...
Read More
Twin tons from Anderson, Imlach steer Eagles back on course

Twin tons from Anderson, Imlach steer Eagles back...

Apr 05, 2025

Race for quarterfinal spots commence today at MoE ground

Race for quarterfinal spots commence today at MoE...

Apr 05, 2025

Marsh sets up Lucknow’s comfortable win over Mumbai

Marsh sets up Lucknow’s comfortable win...

Apr 05, 2025

Saints and GTI dominate as YBG Georgetown Regional Conference continues

Saints and GTI dominate as YBG Georgetown...

Apr 04, 2025

Carty misses ton, Hamilton (80) sets up tense battle as Harpy Eagles speed ace Alimohamed bags 5

Carty misses ton, Hamilton (80) sets up tense...

Apr 04, 2025

Features/Columnists

  • The One-Man Republic

    Peeping Tom… Kaieteur News- There exists, tucked away on the margin of maps and minds, a country that has perfected... more

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]