Orealla, Siparuta residents also to benefit from oil proceeds

Minister of Natural Resources, Hon. Vickram Bharrat has assured Orealla and Siparuta, East Berbice-Corentyne residents that even though their villages are not directly involved in oil exploration they too stand to benefit from the proceeds of the petroleum industry.

Minister Bharrat made these statements on Monday during an outreach to the two Corentyne River villages. He was accompanied by Minister of Agriculture, Hon. Zulfikar Mustapha.

The Minister noted that much has been accomplished since the PPP/C administration entered office and there was still an unutilised US$148 million in oil proceeds in the Natural Resources Fund.

“Even though we managed to present one of the largest budgets in less than one month, there is no oil money in that budget. That money is in an account and we will ensure that every single Guyanese knows how it is spent,” the Minister said.

He reiterated that the proceeds of the petroleum industry are for the citizens. “The resources of this country belong to us [citizens]. It does not belong to a Government or a Minister, it belongs to every single Guyanese,” he said.

Further, the Minister noted that both President Dr. Mohamed Irfaan Ali and Vice President Dr. Bharrat Jagdeo had made it clear the oil revenues would be managed in a transparent and accountable manner.  The funds will be used to advance infrastructure projects, provide quality healthcare, improve the education system and schools.

“Your Government is adopting similar models to ensure that we don’t become overly dependent on one sector and neglect the others. We are ensuring that we use the resources from one sector to develop the other,” Minister Bharrat said.

He said the PPP/C has no intention of falling prey to the ‘Dutch disease’ and abandon other sectors to focus only on oil.