GRA battling for Guyanese

Apr 16, 2023 Editorial

Kaieteur News – The Guyana Revenue Authority (GRA), with Commissioner General, Godfrey Statia standing tall and ferocious, is fighting tooth and nail for Guyanese, so that they can get every dollar that honestly belongs to them. In an audit of US$1.67 billion, US$40 million may look small to some, but to poverty-stretched Guyanese, each dollar saved is another dollar going into their share of their oil profits. It may have been a negligible amount to IHS Markit (IHSM) in its rather questionable audit of those ExxonMobil expenses, but to cheated Guyanese, that US$40 million counts.

Things are so challenging now that Guyana has to watch its own handsomely paid foreign auditors. Their first priority should be to give value, on a professional and principled basis, to their Guyanese clients. Considering the conflict between the GRA and IHSM over that US$40 million, it is reasonable to inquire what else IHSM may have overlooked, passed by, or let go that gives ExxonMobil an edge. After all, when more tens of millions are given a discretionary pass under cost recovery, then the total could soon be in the hundreds of millions of American dollars professionally spirited away under audit cover from Guyana’s profit.

Let this be said frankly and sharply, Guyana was tricked in the deal it signed. It seems as though Guyana is being tricked again in the expenses submitted, which is our strong belief. Then, it appears that even the audit examination exercise is so (perhaps) flawed at times, so skimpy in audit wisdom, that Guyana is being tricked yet again. We urge our fellow Guyanese to absorb if this is not what has seemingly been going on in every step, every feature, every development involving millions of dollars since the discovery of oil. One local auditor found the suspicious and unacceptable in precontract costs, now this foreign auditor would not have properly categorized US$40 million in spending for which evidence is limited, as the GRA insisted. There is another audit for US$7.3 billion that is suspended in space and subject to the cleverness of PPPC Government politicians. One can only wonder at what mysteries are embedded in that bigger audit, and the likely bigger millions that were possibly not part of any real expenses, or those that belong to Guyana.

We should all be grateful to the GRA and its boss. For when he speaks publicly on issues like these, there is the sense that what is right for Guyana is what matters to him and his crucial State agency. How we wish that other State agencies were made of the same sturdy substances, with Guyana’s Environmental Protection Agency and Environmental Assessment Board leading. Though it looks like a wasted wish, it would also be inspiring to observe President Ali, Vice President Jagdeo, and Opposition Leader Norton projecting the same strong stuff, as the GRA, in dealing with foreigners who come here to exploit our riches. The same wish is extended to the others who are part of our oversight businesses, including shaky and surprisingly soft auditors.

The GRA wants the evidence of what is behind the US$40 million, and about which there should never have been a discussion. As ExxonMobil claimed it, so it had to provide the supporting basis. In instances of this nature, transparency is most vital, for it is what builds trust, how trustworthy partners deal with each other, and where the groundwork is laid for what passes professional scrutiny, and what does not. Mr. Statia called it precedent: set a weak one, or a bad one, today, and there will be contentiousness later about consistency. For if that was allowed before, then it must be cleared again whenever it comes up. ExxonMobil does not miss a beat whenever money is involved, and the wily company will seize every opportunity to beat Guyana into the ground to snatch more and more millions from our share.

Cost recovery is a big broad umbrella in ExxonMobil’s hands, and it will shelter anything under its vast cover. Guyanese urgently need more like the flagship GRA to watch over our interests. In fact, Guyanese need political leaders with the courage, wisdom, and principle to get the best and fairest share from this wealth.

Commissioner General, ExxonMobil, Godfrey Statia, IHS Markit (IHSM), uyana Revenue Authority (GRA)

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GRA battling for Guyanese

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