A motion is set to be moved at Monday’s sitting of Parliament calling on the Committee on Appointments to recommend a candidate for the Natural Resource Fund.
The motion in the name of Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh was received on January 17th.
The motion is part of the government’s rapid mobilisation to access oil revenues. Some US$624m will be available this year but the architecture of the NRF must be in place first. The NRF is to be governed by a Board of Directors comprising not less than three and not more than five directors. One person is to be selected by the private sector and this process has already begun. Parliament will then have to consider the nominee put forward by the Committee on Appointments.