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NRF and Transparency

Dec 14, 2024 Letters

Editor,

I read with interest an article appearing in the Stabroek News online edition on December 13th, 2024 titled “Breakdown of NRF spending only done for emergencies”.

I then listened, for the first time, to a p\.  I realized based on his public utterance that, generally, we have little time or interest in each other.  In his presser, the VP took time to share details about his humble upbringing on the East Coast of Demerara.  Supposedly, this was in contrast to my privileged urban status.  Mr. Jagdeo might be surprised to find out that I was born at Mahdia and nurtured in Queenstown, Essequibo, much more distant from the urban centers than Unity, Mahaica.  I was also accused of being racist for highlighting his personal habit of flip flopping on important policy positions.  If that is his considered opinion, he should make bold and file a report with the Ethnic Relations Commission.

Thankfully, the press conference was not all about insults and false accusations.  I was pleased to see that VP Jagdeo had moved, in part, from his earlier position that the tracking of such expenditure would be “difficult”.  Apparently, such tracking will be only done for spending on national emergencies. With Mr. Jagdeo any concession is a win so I am grateful for adjustment to his previous position.  However, I must question the legal basis for tracking spending on national emergencies and not national priorities.  I challenge the VP to provide the legal support for this distinction.

The VP attempted to confuse members of the Fourth Estate by conflating the national budget with national priorities.  These two items are not the same.  The budget has numerous discretionary and, often, unimportant items.  Consequently, I stand by my previous position that requests for withdrawals from the NRF must specify the national development priorities for which the funds will be used.

Editor, my simple request is not a case for the Board to usurp the role of the legislature. It is a plea for the Board, and Public Accountability and Oversight Committee, to execute their functions in accordance with Section 16 (2) (a) of the NRF Act. If Mr. Jagdeo and the PPP government wish to continue with their extravagant spending, then they should just approach the legislature and remove the legal impediment.

Terrence Campbell

Member, Investment Committee

Natural Resource Fund

(NRF and Transparency)

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