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Govt. earmarks three oil and gas sector opportunities for ordinary citizens to invest in – VP Jagdeo
…says this will be a major focus if re-elected
Kaieteur News- Should the People’s Progressive Party Civic (PPP/C) be re-elected to office following this year’s scheduled elections, ordinary citizens stand to benefit from three investment opportunities in the oil and gas sector.
General Secretary of the People’s Progressive Party and Vice President, Bharrat Jagdeo
This was disclosed by General Secretary of the party and Vice President Bharrat Jagdeo on Thursday.
Jagdeo told reporters that the investment opportunities will be specifically tailored to allow ordinary Guyanese to invest and share in the country’s growing prosperity.
He said the administration is actively working on mechanisms that would enable small-scale investors, including low-income earners, to put their money into low-risk, government-supported ventures.
These plans are part of a broader policy direction for the next term, aimed at increasing financial literacy, financial inclusion, and empowerment across all demographics.
“I started speaking about the next term, a massive focus on financial literacy, financial inclusion, financial empowerment of our people at every level, whether you’re a cleaner in a government office and you can invest the little savings you have, even if it’s $10,000 in the bank,” he said.
Jagdeo explained that current investment options like the stock market or private bonds often carry high risks, making them unsuitable for many citizens who cannot afford to lose their savings. As such, the government will be focusing on instruments that offer safer, guaranteed returns, backed by the State.
“So, in instruments created by the government with a guaranteed rate of return from the government for their investment, and we started with t-bills (treasury bills) but it did not at some stage… the price the return on t-bills came down and then it became a bit burdensome to sell small quantities of treasury bills,” the Vice President explained.
To support this initiative, Jagdeo said a white paper will be released soon for public consultation, outlining the proposed investment avenues and seeking feedback from citizens. The PPP intends to present these options in its next manifesto, but discussions and preparations are already underway.
Notably, Jagdeo did not provide a specific timeline for implementation. However, he noted that these initiatives would be a major focus in the PPP government’s next term if re-elected.
“We’ve already identified about three big business opportunities in the oil and gas sector that we can tailor for small people in the economy, small investors that they can share the prosperity to and I’m talking about people, you know, you can do it in increments of 50,000 investments or 100,000 and stuff and to exclude some of the bigger guys from these investment vehicles,” he said.
Jagdeo added that their broader plan includes simplifying bureaucracy for small business registration and operations. He said, “What will we do in the next government to grow small business, first of all, simplifying the bureaucracy to set up and run a small business, so government permitting government incorporation of companies. Even the taxes you pay in small business could be differentiated and be lower, creating through public procurement more opportunities for small business.”
Recently at Babu Jaan, Corentyne, Berbice, the PPP’s General Secretary has already promised citizens more cash grants if they re-elect the PPP at the upcoming General and Regional Elections. However, he had stated that the initiative is now being positioned as one that will continue in the future. Jagdeo had explained that the PPP plans to structure financial products in a way that enables citizens to invest their cash grants through a financial instrument created by the government. “It will underwrite, it will give you a guarantee rate of return than if the money was placed in the bank,” he noted.
“So, when you get your cash grant in the future, you can put it in a financial instrument that the government will create, that it will underwrite, it will give you a guarantee rate of return than the money if you place it in the bank. All of this will empower people, young people, especially to own things,” he said.
(Govt. earmarks three oil and gas sector opportunities for ordinary citizens to invest in – VP Jagdeo)
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