Dear Editor,
There has been a few articles in a particular media which is vociferously and aggressively peddling the view that the dreaded ‘oil curse’ is already upon us. One writer is of the opinion that the rate of development of Guyana’s infrastructure is way behind the rapid pace of development of the Oil Sector and this is a recipe for the ‘oil curse’. But on the other hand, he condemned the borrowing of funds to finance the very same infrastructural and transformative development which are vital. Therefore, the question is: what is the solution to this problem? Do we reduce the production of oil whilst we await the accumulation of funds in the unpredictable distant future? I think not.
The Vice President has explained ad nauseam that there is a limited window available for oil exploration and Guyana must take advantage of this now rather than later. He added that companies are finding it harder to attract investments into fossil fuel projects. Oil in the ground has no benefit for Guyana and the loans which are accessed are linked to the transformative developments, not only to the oil sector, but the other sectors as well. It is no secret that all the sectors across Guyana are progressing at an extremely fast rate and this is not about infrastructure only.
For instance, the agriculture sector is already being transformed to make Guyana self-sufficient in food production by 2025. These transformative developments are already bearing fruits in all the sub-sectors. There is sustainable growth throughout this sector and rural communities are being uplifted on an almost daily basis. The rate of this development is unprecedented. All of these cost tens of billions to right the wrongs which the Coalition willfully perpetrated against agriculture.
Moreover, the former Coalition government agency should accept this fact and apologized to the people who suffered immensely, for instance, the sugar workers. Not only the agriculture sector, but all the other sectors (Health, Education, Fishing, Forestry, and Mining), provided strong and irrefutable evidence that the ‘oil curse’ is just a hoax meant to ignite mischief and strife against the PPP/C Government. Economic growth and development is taking place in all the sectors, none is neglected.
Sincerely,
Haseef Yusuf