Tuesday, December 6, 2022

Guyana will not be bullied on Local Content Policy – VP Jagdeo

Must Read

OilNOW
OilNOW is an online-based Information and Resource Centre

Guyana’s Vice President, Dr. Bharrat Jagdeo has indicated that the government will not be moved to weaken in any way, shape, or form, the powers enshrined in the new Local Content law which seeks to protect the rights of Guyanese and ensure they get first preference for opportunities in the oil and gas sector. In fact, the VP categorically stated that Guyanese will not be bullied for domination of their oil resources, at least not on his watch.

The former Head of State clarified this position of the government during a press conference on Friday afternoon. His comments come in wake of the heightened debate on the legislation which was gazetted on December 31, 2021.

OilNOW previously reported that some sections of the Trinidadian press have proffered perspectives that Guyana’s local content law ought to be examined for its compliance with CARICOM’s Revised Treaty of Chaguaramas (RTC). Attorney-at-Law and Member of Parliament, Sanjeev Datadin had argued however that those who dare to challenge the law do so at their own peril since Guyana would not hesitate to exercise her sovereignty. Datadin said that under the RTC provisions, Guyana can elect to opt-out of those obligations which infringe on its desire to implement its domestic law in full. He warned that Guyana would not fail to use this mechanism to prevent her people from being marginalized.

In what appeared to be a strengthening of this position offered by Datain, VP Jagdeo was keen to note that while Guyana is desirous of upholding its Treaty obligations, the government will not allow its people to be pushed aside and treated as second-class citizens.

He said, “Trinidad has a Local Content Policy too and it is hard for many of our businessmen to go there and establish businesses. They have a hard time accessing land and anything for that matter but somehow people believe that they have a God-given right to displace Guyanese in our own country from our own resources. We are not going to stand by and allow that.”

The former Head of State said, “We have treaty obligations, and we are a member of CARICOM, and we want to be a member of CARICOM; it is a valuable part of our family.” Be that as it may, Jagdeo said the government will protect the rights of its people.

He said this must not be misconstrued to mean that the government will treat Trinidadians in a discriminatory manner; this is far from the case. The Vice President added that Trinidadian businesses are welcome to invest in the oil sector, but they must do so by seeking partnerships with Guyanese.

spot_img

Latest News

Guyana’s oil fund almost at US$1.4 billion at November’s end

Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end...

More Articles Like This

spot_img