Guyana’s main opposition People’s Progressive Party (PPP) says the start of oil production at the dawn of the new year is an occasion for cautious optimism but stressed that in order for the South American nation to truly benefit from petroleum revenue, prudent management of the sector is required.
“The dawn of 2020 is also an occasion for guarded optimism in our country. We start this year as the world’s newest oil producing nation. In order for the benefits of this development to be enjoyed by all of the Guyanese people, the gross mismanagement of the sector by the incumbent APNU/AFC government will need to be remedied,” PPP said in its new year’s message.
The party said the legacy of the current administration in the oil sector “comprises abject failure to put in place an effective regulatory framework and local content policy, as well as badly negotiated contracts that do not serve the national interest.”
It said the objective of the party is to bring “responsible economic management” to both the oil and gas as well as traditional and other new and emerging sectors of the Guyanese economy.
“By ensuring a truly diversified and robust economy, Guyana will soon be joining the fold of prosperous nations of the world and, with good government, every single Guyanese person will benefit from this prosperity,” the PPP said.
The party said for this promise to be realized, the people of Guyana will be required to make an important choice in March 2020, referring to the upcoming elections in the South American country.
The full text of the PPP’s message can be viewed here.
