6.5% salary hike equivalent to 4 slices of pumpkin

6.5% salary hike equivalent to 4 slices of pumpkin – Glenn Lall

Dec 13, 2023 ExxonMobil, News, Oil & Gas

Kaieteur News – Businessman and Kaieteur News publisher, Glenn Lall, has raised concerns on the recent 6.5 percent salary increase the government has awarded to public servants, which he said is equivalent to four slices of pumpkin.

Businessman and Kaieteur News Publisher, Dr. Glenn Lall

Lall said, Guyana being an oil rich country, pumps over half a million barrels of oil per day, and this generates to approximately US$30M in oil profits daily. However, he said the increase which public servants will receive this month, amounts to GY$4,800.

Last Friday, Senior Minister within the Office of the President with responsibility of finance, Dr. Ashni Singh, announced the increase which he noted would be retroactive to January 2021.

“Generating over US$30M profits a day, and can only give US$35M as an increase to all 54, 000 public servants for the whole year, tell me man. Is this not a crime being committed against its citizens?” Lall stressed.

Not stopping there, Lall said, “more than half of this population, who not going to bed hungry, finding it difficult to grab one proper meal when the day comes, in a country that is now one of the richest per capita, and the fastest growing on planet earth.”

Recounting the massive profits made from the oil, the business man emphasized that the GY$4,800 in increase that will be added to the minimum wages of workers, is small, given that the cost of living here has skyrocketed by a 100 percent and in some cases, 200 percent.

In light of these developments, Lall presented several alternatives; he pointed to the suggestion that placing a meter to monitor how much oil is being pumped out of each oil block. He said by this undertaking, salaries of public servants can increase a full 100 percent.

Lall also said that, capping interest rates on offshore investments, notably those associated with Exxon Mobil can make salaries go up by 300 percent. He added that demanding full taxes and more royalties can raise salaries by 400 percent.

Not stopping there, Lall mentioned that by taking back the 20 oil blocks from Exxon, salaries will increase by 500 percent. To this end, the business man emphasized on how important ringfencing oil projects would be, stating that once that is put in place, no Guyanese would have worry about their paltry salaries.

Lall’s concerns are based on how money generated from the oil and gas sector is not trickling down to Guyanese’s pockets, and the “insanity” of the situation in which public servants will be receiving a meager 6.5 percent salary increase, when the country is receiving massive profits from the oil and gas sector.