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Sunday Edition Israel bombards AIETEUR NEWS schools and homes in Gaza, a day after Nuseirat massacre

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December 15, 2024

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Israel has killed at least 52 people over past day as it continues to target civilians, hitting two Gaza city schools.

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US EXIM Bank loan for Gas-to-Energy project exposes institution to political, financial and litigation risks - Int'l lawyer Jagdeo hopeful oil spill legislation will be tabled before year-end

Pork-knocker fatally chopped during drunken row The Christmas Village along Main Street, Georgetown was abuzz Saturday night despite heavy rainfall

President announces one-month bonus for Joint Services

PPP and PNC misleading Guyana on windfall taxes ...each household lost minimum of $1M in 2024 - K/News Publisher

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Kaieteur News

Sunday December 15, 2024

Sunday December 15, 2024

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US EXIM Bank loan for Gas-to-Energy project exposes institution to political, financial and litigation risks International awardwinning lawyer, Melinda Janki, has warned the United States Export Import (US EXIM) Bank that approving Guyana’s application for a loan to support the Gas-toEnergy (GTE) Project exposes the financial institution to political, financial and litigation risks.

In a submission to the Bank, dated December 6, 2024, Janki lobbied the Board to refuse Guyana’s US$656M loan application, pointing out the risks for the Bank as well as potential breaches of fiduciary duties and the resulting harm to the American people and American economy.

POLITICAL RISK The lawyer explained that the main political risk to the United States of America arises from the threat to Venezuela and the Caribbean islands as a result of petroleum operations being carried out by ExxonMobil Corporation through its subsidiary, ExxonMobil Guyana Limited.

“Exxon’s petroleum operations are an integral part of the proposed gas plan; the gas plant cannot function unless Exxon produces oil.

Exxon’s Liza Phase One and Two Projects will provide ‘associated gas’ for the gas plant. An EXIM Bank loan for the gas project cannot be

detached from Exxon’s operations and would therefore be tainted by the risks and any ensuing harm from Exxon’s operations,” Janki stated in her submission.

She therefore noted that if there is an ‘unplanned event’ such as a well blowout, the resulting oil will impact a number of Caribbean states. Janki attached a map from Exxon’s environmental impact assessment depicting one spill scenario.

The lawyer pointed out, “The United States risks international censure for supporting unsafe operations and could face international pressure for compensation in the event of an oil spill.”

FINANCIAL RISK Meanwhile, Janki went on to highlight that the Board has a fiduciary duty of care which requires members to be good stewards of the public treasury. “In deciding whether to make this loan the Board must at a minimum consider whether the loan is the best use of the tax dollars of hardworking Americans.

There are two reasons for concluding that it is not. The first is the requirement for American jobs. The second is that the gas project is not financially viable,” the lawyer stated.

She recalled that Section

- Int’l lawyer

Int’l award-winning lawyer, Melinda Janki 2(a)(1) of EXIM Bank’s charter states that, “The objects and purposes of the Bank shall be to aid in financing and to facilitate exports of goods and services, imports … and in so doing to contribute to the employment of United States workers.”

To this end, Janki argued that oil and gas are outdated technology, reflected in a declining market and increased risks of stranded assets. On the other hand, she said new technology for clean renewable energy is already taking over with the market set to grow massively.

Janki told the US EXIM Bank that investment in renewable energy brings greater returns than supporting fossil fuels. In

UK Foreign Secretary David Lammy on official visit to Guyana The United Kingdom’s Secretary of State for Foreign, Commonwealth and Development Affairs, Honourable David Lammy, paid his first official visit to Guyana on Friday, the Office of the President said.

Lammy met with President Irfaan Ali and had bilateral discussions on advancing the cooperation between the two nations.

“Discussions at State House on Friday evening focused on advancing partnership on climate change, environmental protection, biodiversity conservation and child care,” the Office of the President said in a short statement.

President Ali also hosted a cocktail reception in Lammy’s honour, whose parents are Guyanese.

At the reception, the UK’s s u p p o r t f o r G u y a n a ’s territorial integrity and for developmental projects and security collaboration were highlighted.

Mr Lammy, in brief

President Irfaan Ali and the Honourable David Lammy, Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom on his first official visit to Guyana (Office of the President) remarks, noted that he is excited about the potential for future partnerships between Guyana and the UK. That partnership, the President emphasised, had been magnified by the drive of the British High Commissioner to Guyana,

HE Jane Miller.

Prime Minister, Brigadier (ret’d) the Honourable Mark Phillips; Vi c e P r e s i d e n t , t h e Honourable Dr Bharrat Jagdeo and other senior members of the Government were also in attendance.

fact, it brings more jobs, cheaper energy which stimulates industry and is better for the economy, she said.

“The choice before this Board is whether to make a loan for an overseas gas plant in a declining sector or whether to assign this funding for clean energy thereby creating more (and better) jobs for Americans and enabling the United States to capture a bigger share of a growing renewable energy market,” the lawyer stated.

I m p o r t a n t l y, J a n k i flagged the lack of any financial analysis to justify using gas for energy in the country. She was keen to note the conclusion of the Institute for Energy Economics and Financial Analysis (IEEFA) which assessed the gas project and found that it is, “…unnecessary and financially unsustainable”, “an example of money badly

spent” and that the planned investments “are based on unrealistic assumptions about future electricity sales” which would result in “underutilized infrastructure and stranded costs for the government of Guyana.”

LITIGATION RISKS The international lawyer told the US EXIM Bank that E x x o n ’s p e t r o l e u m operations have so far resulted in eight court cases brought by Guyanese.

“These cases have resulted in numerous wins for the people including an order for Exxon to produce a parent company guarantee from Exxon Corporation, an order to provide proper insurance, an order cutting Exxon’s environmental permits down from 25 years to five years, and declarations of law that Exxon was in breach of its legal obligations,” she highlighted.

Janki further noted that the Caribbean Court of Justice has said that Exxon’s co-venturers Hess and CNOOC cannot carry out petroleum operations under their petroleum production licences. She added that the Court also said that Exxon must abide by international conventions and protocols on the environment. As such, the lawyer warned of the possibility of delays to the gas project by future cases or even a halt to the venture.

Moreover, she cautioned that the US EXIM Bank is also exposed to legal risks.

“EXIM Bank has been sued before in the United States. If this loan is approved, it is entirely possible that there may be grounds for other lawsuits based on noncompliance with the law,” Janki said.

The lawyer explained that section 11(a)(1) of the EXIM Bank Charter requires the institution to “establish procedures to take into account the potential beneficial and adverse environmental effects of goods and services for which support is requested under its direct lending and guarantee programs. Such procedures shall provide for the public disclosure of environmental assessments and supplemental environmental reports required to be submitted to the Bank, including remediation or mitigation plans and procedures, and related monitoring reports.”

Additionally, Janki said Section 11(a)(1) applies to projects which “(C) may have significant environmental effects upon the global commons or any country not participating in the project, or may produce an emission, an effluent, or a principal product that is prohibited or strictly regulated pursuant to Federal environmental law.”

To t h i s e n d , t h e Guyanese Lawyer noted that Continued on page 9

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Kaieteur News

Printed and Published by National Media & Publishing Company Ltd. 24 Saffon Street, Charlestown, Georgetown, Guyana.

Publisher: DR. GLENN LALL - TEL: 624-6456 Editor-In-Chief: NIGEL WILLIAMS Tel: 225-8465, 225-8491. Fax: 225-8473, 226-8210

Sunday December 15, 2024

Kaieteur M@ilbox Send your letters to Kaieteur News, 24 Saffon Street, Charlestown, Georgetown or email us kaieteurnews@yahoo.com

Misleading statement by Guyana is the key, Guyana the source ExxonMobil Guyana lawyer EDITORIAL

When corporate leaders go to sleep, Guyana’s oil has to be the last thing on their minds. When they wake up, Guyana’s oil must be the first thing that comes to their head, shakes the sleep out of them. For ExxonMobil’s Chief Executive Officer Darren Woods, it is what seems to be the case round the clock. His company’s prospects are tied to Guyana’s oil, his success as a CEO depends on Guyana’s oil more than most other things. It is so cheap as almost to be free, and it is of such a quality that it earns top dollars on the world market. For ExxonMobil’s board, its CEO, and its investors, Guyana is the best thing that has happened to them in a long time. They can’t stop bragging about how much this country’s oil pushes and solidifies ExxonMobil’s place on top of the oil world.

For sure, ExxonMobil obtains oil from its other holdings, such as the long producing Permian Basin in the American South. Though the Permian still has some production life in it, the reality is that it is an aging asset.

Guyana is young and fresh, ripe for the delivering of more and more of its oil treasures. This is where ExxonMobil’s focus is, where its money is being poured. All of this is sound corporate leadership and good business strategy. Put the money and energy where the best profit potential is.

What does not make any sense at all is the passive and yielding nature of the Government of Guyana. The man in charge of the nation’s massive oil wealth, Vice President, Bharrat Jagdeo, is a study in obfuscation, denial, and doubletalk. If ever there is one who could be rightly described as ExxonMobil’s chief lobbyist and chief defender, it is Guyana’s chief oil policymaker Jagdeo.

There is ExxonMobil’s leader, Darren Woods, who is delighted to announce how Guyana is the key to ExxonMobil’s future plans, while Guyana’s oil leader, Jagdeo, makes himself into a kitten and a puppy. Woods is on a roll and Jagdeo rolls himself into a ball. When he should seize the moment and capitalize through ExxonMobil’s much-desired new oil projects, Jagdeo is convulsed with seizures of an unknown kind. Again, the question has to be asked: what power does ExxonMobil wield over him? What stranglehold on this local oil czar that he doesn’t even care how pitiful he sounds, looks?

Darren Woods is so proud of how ExxonMobil stands in Guyana that his joy bubbles over. It pushes him to share with his audience how much his company’s upstream strategy is dependent on Guyana’s oil. As a reminder, oil that is high quality, and oil that is cheap. It could be said with some justification that Guyana’s oil is almost cost-free and it has elements of what is risk free from an investment return perspective. CEO Woods is perched atop an American corporate oil giant that calls the shots in Guyana, as a growing body of evidence supports. When Woods calls the shots here (through Alistair Routledge), Jagdeo and President Ali run for cover.

They are the picture of smiling, bowing, and scraping Third World leaders. All talk and no walk, all heavy breathing and no heart. They should appreciate the power of what they have in their hands (this oil patrimony), and the force that it makes of them. But they will none of that, with both of them being more content to go into reverse gear and get out of Woods and Routledge’s way. The opposition is no better, for like Jagdeo, it also appears to hew to an ExxonMobil First strategy.

Much more oil is to be produced in Guyana as part of ExxonMobil’s plan. What is the PPP/C Government’s and Jagdeo’s plan on making a move while that opportunity is hot? Jagdeo, Guyana’s number one oilman, should be advancing with the confidence of a leader who knows that he holds unbeatable cards.

The record shows, however, that his courage has deserted him, so he goes around and around to avoid taking a strong stand with oil. Darren Woods is all volume about our oil, Jagdeo is all perfume: sweet for ExxonMobil, sickly for Guyana.

DEAR EDITOR, On December 8, 2024, ExxonMobil Guyana claimed that they “adhere to the highest ethical standards and are committed to transparency and integrity in all our dealings”. They DO NOT! On the contrary, ExxonMobil Guyana does not even consistently comply with the law.

ExxonMobil rejected a valid penalty for a polluting spill, and did not pay. It waited instead until a supine political administration came into office and dropped the case. In 2018, Christopher Ram showed, using the oil companies’ own financial statements, that the pre-contract costs were overstated by at least US$92 million. If ExxonMobil is committed to integrity, it should explain why 6 years have elapsed and not a word to counter the integrity of

Mr. Ram’s analysis.

In 2023, it was reported that the first audit of cost claims from 1999 to 2017 found 12.8% or US$214 million in questionable expenses by ExxonMobil and its partners. There were US$179.8 million in costs that were deemed “Inadequate Supporting Documentation”. Given its c o m m i t m e n t t o transparency, why, more than a year later, has the supporting documentation not been provided?

ExxonMobil Guyana does not pay taxes on its oil profits in Guyana. It signed an oil contract with the condition that it receive tax receipts from the Government of Guyana for taxes it did NOT pay. More than 140 countries require companies like Exxon to pay at least 15% in taxes. Why is Guyana NOT among them?

If Exxon claims transparency, it should publish the tax receipts it received from the Government of Guyana and disclose whether the receipts are used to receive a tax credit from the IRS. ExxonMobil defies the rule of law and international safety standards with operating the Liza 1 and Liza 2 oil projects above the design production rates.

How can it be ethical to place Guyana and the Caribbean at the risk of a major oil spill especially when there is no parent company guarantee?

How can ExxonMobil claim ‘the highest ethical standard’ given that this recklessness can bankrupt Guyana and many countries in the Caribbean?

A large number of commentators in several countries have agreed that the Exxon-influenced (if not

Exxon-dictated) production sharing agreement of 2016 is one of the world’s most lopsided. It is a principle of contract law that, if one party does not fully understand what it is signing, the contract is invalid. For ExxonMobil to continue to refer to ‘sanctity of contract’ in such a context shows substantial disregard for ethical standards.

If ExxonMobil wants to be respected, it needs to live up to its grandiose claims.

Alfred Bhulai Andre Brandli Ganga Ramdas Kenrick Hunte Darshanand Khusial Mike Persaud On behalf of OGGN (www.oggn.org/about ) Reference: https://www.kaieteurne wsonline.com/2024/12/08/e xxonmobil-responds-tocraig-sylvester-on-briberyaccusations/

Sunday December 15, 2024

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Kaieteur M@ilbox Kaieteur M@ilbox Why Guyanese must demand the right to elect parliamentary representatives and presidential reform DEAR EDITOR, The time has come for Guyana to confront one of the most glaring flaws in its political system: the lack of direct election of parliamentarians and the entrenchment of an executive presidency that places the occupant above the law. These structural deficiencies undermine democracy, alienate the citizenry, and concentrate unchecked power in the h a n d s o f a f e w. T h e consequences for governance, justice, and accountability are dire, and this must change.

I n G u y a n a , parliamentarians are not directly elected by the people they are meant to serve. Instead, they are selected from a list crafted by the leader of a political p a r t y. T h i s s y s t e m fundamentally severs the relationship between representatives and their constituents. Rather than

being accountable to the electorate, parliamentarians owe their positions and political survival to party leaders. This arrangement fosters a culture of patronage, stifles dissent, and ensures that party interests take precedence over national priorities and the will of the people.

Contrast this with democracies where citizens vote directly for their representatives. In these systems, elected officials have a mandate to represent the interests of their

constituents and are held accountable through regular elections. Guyana deserves no less. The current listbased system diminishes the voice of grassroots Guyanese, marginalizes civil society, and erodes trust in democratic institutions.

Compounding this problem is the executive presidency enshrined in our Constitution. The provision grants sweeping immunity to sitting and former presidents, effectively placing them above the law.

This means that a president

- demand a democracy where Parliamentarians are directly elected and presidents are held accountable could, quite literally, commit Guyana are left to bear the and their constituents, crimes—even murder—and costs of such unchecked empower citizens, and foster face no legal consequences power, as justice becomes a a more responsive and while in office or afterward. privilege reserved for the inclusive democracy.

Equally important is the Such a provision is not only powerful and denied to the removal of the executive undemocratic but also masses.

G u y a n a ’s p o l i t i c a l presidency’s immunity dangerous. It encourages impunity, corrodes the rule s y s t e m n e e d s u r g e n t p r o v i s i o n . N o l e a d e r, of law, and undermines the modernization. We must regardless of their office, principle that no one is above start by enabling citizens to should be above the law. accountability. Consider the d i r e c t l y e l e c t t h e i r This reform would restore implications: a president, p a r l i a m e n t a r y the rule of law, deter secure in their immunity, can representatives, ensuring misconduct, and signal to the wield power without fear of that these leaders are world that Guyana is repercussions. Corruption, accountable to the people, committed to justice and abuse of authority, and other not party elites. This shift accountability.

The international c r i m i n a l a c t s c a n g o would strengthen the link (Continued on page 06) unchecked. The people of between elected officials

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Sunday December 15, 2024

Kaieteur M@ilbox Kaieteur M@ilbox A brilliant book on foreign exchange by Dr. Ramesh Gampat DEAR EDITOR, The field of Guyana’s currency and foreign exchange has never been addressed in much detail (book form) even though foreign currency market and management are becoming increasingly important for a developing country like Guyana, which is becoming even more integrated into the global economy. Even more startlingly, the concept of FX and why there is a foreign currency shortage, if there is indeed one, is poorly understood by the Guyanese general public.

Dr Ramesh Gampat, an illustrious Guyanese economist who once worked for the UN, addresses this critically important issue. He makes it easy to understand by brilliantly penning a book on the subject, explaining the whole issue pertaining to

Guyana currency and how it is managed. In the process, he helps readers to understand exchange rate fluctuation and its impact on the economy.

The Guyanese FX Market Modern Discourses and Controversies (FX = foreign exchange) (Oct 2024) addresses issues relating to the FX market, international reserves, exchange rate fluctuation, net foreign balances of commercial banks, whether the Guyana dollar is overvalued or not, the various exchange rates, whether official cambios are effective, among other related banking issues. As a bonus, Chapter 2 is a detailed review of central government expenditure, fiscal deficit, public debt (domestic and external). The focus is on the sale of foreign

exchange to the local market by both bank and non-bank cambios during the period 2013 to the second quarter of 2023.

Gampat offers readers an understanding of various concepts related to exchange rate (using the Guyana dollar as reference). Outlining the salient institutional characteristics of foreign exchange in Guyana, it provides a wide-ranging explanation of the behaviour of exchange rate of the Guyana dollar with the US dollar. It makes for excellent reading, and the level of exposition is nontechnical and as such intelligible to most readers regardless of background. It explains economics concepts with clarity and is aimed at a general readership.

Scholars, students, policymakers, ordinary

folks interested in understanding exchange rate and current economic performance in Guyana will benefit from Gampat’s insightful and lucid analysis.

Gampat lays out the origin for motivation for the book in the very first paragraph. He notes in the opening sentence that the book arises out of a comment in Stabroek News in response to a query on whether the Guyana dollar is over or under valued and whether the country should

‘dollarize’ (meaning getting rid of the Guyana dollar and the bank of Guyana, and therefore use the American dollar). Dollarization is an argument made in SN and other media houses by some commentators.

Gampat explains that international reserves, as the term suggests are not held to pay for imports on a regular basis. Instead, the principal purpose of international reserves is to mitigate damage to the domestic economy if all sources of

external inflows dry up.

Based on his analysis, he also debunks comments made by VP Jagdeo on foreign currency and one Joel Bhagwandin, a frequent letter writer in the mass media. Exchange rates are vital to the functioning of all economies as it impacts consumption, trade, inflation, growth, and overall development.

And comments in the media say there is a shortage although the Central Bank (Continued on page 50)

I support Jonestown being a tourist destination DEAR EDITOR, I have been following, with interest, the views and opinions expressed on Jonestown in your letters column.

I am in support of Jonestown being developed and marketed as a tourist destination. Guyana gained international spotlight because of the tragedy in Jonestown which claimed the lives of nearly a thousand people, including that of a

US Congressman who was on a visit to investigate reports of inhuman treatment of United States citizens at the hands of the notorious [Jim] Jones.

Contrary to what is being projected in some sections of the media, it was not an act of ‘mass suicide’ but a case of mass murder through the forced consumption of cyanide-laced beverage by Jones and his murderous cabal.

Guyana became known on the world stage, albeit in a bizarre way because of the scale of the murders, the majority of whom were United States citizens, lured

by Jones into a false sense of economic security in the interior of Guyana.

Jonestown is part of our history and should be preserved if only as a reminder of a dark period in our history.

Hydar Ally

Why Guyanese must demand...

From page 05 community, particularly the USA and the ABCEU countries, must join civil society and grassroots Guyanese in demanding these reforms.

As partners and advocates for democracy and benefactors of our vast natural resources, they have a responsibility to support the people of Guyana in building a political system that is fair, accountable, and reflective of modern democratic values.

Their voices, alongside ours, can amplify the

call for change and put pressure on those in power to act.

For too long, Guyana’s political system has failed its people. It is time to break free from the shackles of outdated practices and create a system that truly represents the will of the people. Let us demand a democracy where parliamentarians are directly elected, and presidents are held accountable. The future of our nation depends on it.

Yours truly, C.A. Singh

Sunday December 15, 2024

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Sunday December 15, 2024

PPP and PNC misleading Guyana on windfall taxes ...each household lost minimum of $1M in 2024 - K/News Publisher The two major political parties in Guyana are both misleading the nation on the implementation of windfall taxes, a provision that has been applied by a number of oil producing countries around the world.

This was recently highlighted by Publisher of Kaieteur News, Glenn Lall, during his radio programme aired Friday on 99.1/99.5 FM. The businessman prefaced his argument by pointing out that each Guyanese household lost over $1M in 2024, due to the failure of leaders to demand a windfall tax on the excess profits being earned by ExxonMobil from its ongoing oil production in the Stabroek Block.

A windfall tax is a tax levied on an unforeseen or unexpectedly large profit.

Back in 2022, amid surging oil prices influenced by the war in Ukraine, several top

oil producing countries such as the United Kingdom, the United States of America and Canada introduced a windfall tax on the excess profits that were being earned by oil and gas companies.

Since this would not affect the expected revenue of companies, this provision does not constitute a breach to oil contracts.

Be that as it may, both the People's Progressive Party and the People's National Congress Reform (PNCR) are reluctant to institute this provision to ensure the country benefits more from its resources.

For his part, Lall believes this failure amounts to nothing less than a betrayal to every Guyanese.

The businessman during his radio programme, told listeners that each household in the country could have benefitted from over $1M this year through the

implementation of a windfall tax.

To this end, he said, “I honestly believe that some of these political leaders should be sitting in a prison cell fuh what they are knowingly doing to us, with all these resources this country has.

To tell you the truth uncle, a prison cell is too good for these chaps. Let me make this clear, at the end of this year, 2024, every household should have had more than a million dollars sitting in their bank accounts. This could have been achieved if only the PPP and the PNC had made just one simple decision, without even having to touch or change that oil contract.”

Lall concluded that the leaders were either corrupt to the core, or have pure hatred for the people of Guyana.

“Why else would they fail to act? Look uncle, had they both demanded a 50% windfall tax from Exxon,

like every other oil producing country did with their oil companies, every one of the 300,000 households in Guyana, would have received more than a million dollars from the oil pumped in 2024 alone. Even if they had settled for 25%, every home could have collected $700,000 in their bank books,” the newspaper publisher reasoned.

He was keen to note that for a windfall tax to be instituted no renegotiation of the lopsided 2016 Production Sharing Agreement (PSA) was required. Instead, Lall argued that the leaders have left the future of Guyanese in jeopardy, throwing a mere $100,000 cash grant at adult citizens.

He said, “Five years of pumping oil, and this is all they have to show for it, $100,000...Come on people.

Wake up! It is time to

Businessman and Publisher of Kaieteur News, Glenn Lall demand better. It is time to hold these leaders accountable and reclaim what is rightfully ours. We deserve better, and the time to act is now.”

Lall pointed out that Exxon's lowest base price to invest in Guyana and make a return is US$55 per barrel.

As such, the businessman explained, “Anything beyond $55 per barrel is honey, which Exxon alone drinking.”

Vice President Bharrat Jagdeo was recently asked

by Kaieteur News why the government is still reluctant to apply a windfall tax on the excess profits being earned

by Exxon even though it does not affect the contractor's expected revenue.

In dismissing the issue, he said, “I have dealt with windfall taxes in the past and why we believe that windfall taxation should not be pursued at this time. I dealt with it in the past if you go

back and read.”

Meanwhile, advisor to the Opposition Leader on Economics and Oil and Gas, Elson Low during a PNC press conference said, “When this windfall tax issue really came forward was when we were looking at the possibility of a $170 per barrel and at a substantive change to the industry as a whole. So, I would say given that we are not looking at such a substantial change to the industry, it is not something that we are looking at. It's not something that we have raised in our oil policies; however, looking at our previous statements, it's only in a very bizarre scenario that we would incorporate that into the model.”

Lall concluded that the country has found itself in a very sad situation with two political parties forcing Guyanese each night to go to beds hungry, despite all the wealth in the country.

Pork-knocker fatally chopped during drunken row A pork-knocker was fatally chopped during a drunken row with his drinking partner on Friday at Nassano Backdam in the North West District, Region One. Dead is Jabez Jaazuel Williams, called 'Beggie', a 22-year-old of Wauna Village, Mabaruma, North West District.

Police investigations revealed that Caldale Conyers, who is also a porkknocker from Pomona Housing Scheme, is the perpetrator. Reports are that at around 12:30 hours, a team of police officers, acting on information received, went to Nassano Backdam, to contact Conyers.

He was at a camp owned

by Pernell Hudson called “Meldrick”. The ranks informed the man of the allegations levelled against him and he admitted to committing the act.

He told police: “Sir, the whole day Thursday, me and Jabez were drinking high wine and Turbo at the work ground. At about 17:00 hrs, we finished work and went to Delroy's dredge camp, where we drank Banks beers.”

Williams became intoxicated and headed back to camp leaving Conyers at Delroy's dredge where he continued consuming beers.

Conyers recalled that he left for camp around 21:00hrs (Continued on page 51)

Kaieteur News

Sunday December 15, 2024

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Beyond the politics of pay T

h e a r t o f governance, they say, lies in the delicate balancing act between pragmatism and principle. Nowhere is this balance more indelicate that in the area of public sector w a g e s . T h e P e o p l e ’s Progressive Party/Civic (PPPC) government has a one-size-fits-all approach to annual salary increases. The previous APNU+AFC administration had a weighted strategy that neither enriched the worker nor satisfied the economist.

Both approaches, while politically calculated, fail to address the fundamental question: What constitutes a living wage?

The PPP/C’s strategy, as predictable as the tides, has been to deliver annual across-the-board increases to public servants. This approach ostensibly aims to provide something for everyone. Yet, therein lies the flaw. Equal treatment, in this context, masks the profound inequalities within the public sector. An acrossthe-board increase of, say,

5% to both a janitor earning $60,000 per month and a senior administrator earning $600,000 does little to uplift the former and does everything to fatten the wallet of the latter. The policy is a blunt instrument—simple, politically expedient, but devoid of nuance.

On the other hand, the APNU+AFC’s approach, ostensibly progressive, sought to offer larger increases to those at the lower end of the salary scale while providing smaller adjustments to those higher up. The logic here is compelling: prioritize those who need it most. For a worker struggling to meet basic needs, a 10% increase on a modest salary could mean the difference between sufficiency and scarcity.

Meanwhile, the highly paid professional, already enjoying relative comfort, might not feel the pinch of a smaller increment.

But the APNU+AFC’s strategy is not without its pitfalls. Over time, such a policy risks compressing the

salary structure, where lowerband workers’ earnings inch closer to those of their supervisors or managers. This could lead to resentment among skilled professionals, whose expertise and responsibilities are no longer adequately reflected in their compensation. The policy, while noble in intent, runs the risk of diminishing the incentives for career advancement and excellence.

Yet, as we scrutinize both models, a glaring omission emerges. Neither administration has grounded its wage policies in a benchmark for a living wage.

What exactly does it cost to live with dignity in Guyana today? Without a clear standard, these salary adjustments—whether across-the-board or weighted—amount to little more than tinkering at the margins.

They fail to address the systemic inadequacies that leave too many workers trapped in a cycle of perpetual struggle.

A living wage is not merely a figure plucked from

US EXIM Bank loan for Gas-to-Energy project...

From page 3 the proposed 300-megawatt gas plant would produce over 980,000 tons of carbon dioxide per year and therefore would have significant environmental effects on the global commons. She contended that the gas plant requires an environmental assessment which has not been carried out.

HARM TO AMERICANS The award-winning environmental lawyer, in her comments to the Bank, highlighted the harm to Americans from the project. She reasoned that greenhouse gas pollution from the proposed gas plant has not been assessed for its impacts on the global

commons as required by S11(1)(C).

“These impacts include radiative forcing which affects the global energy balance leading to global warming and its knock-on effects such as a breakdown of the global climate system, rising sea levels and a hotter ocean,” she said.

A d d i t i o n a l l y, J a n k i n o t e d t h a t Greenhouse gas pollution also causes ocean acidification and death to marine life.

“Greenhouse gas pollution knows no boundaries. The impacts will affect the American people. Thus, Board approval of loan will cause harm to the American people,” the Lawyer warned.

DEM BOYS SEH

De perfect man D

em boys seh a man jump in a taxi by de corner and de driver seh, “Bai, you got timing just

like Frank.”

De man ask, “Frank who?”

De driver seh, “Frank de man who never mek a mistake in he life!”

De man seh, “Everybody does slip up some time.” De driver seh, “Not Frank!

That man was perfect. He coulda run marathon and win.

He play cricket and bat like Shiv Chanderpaul and bowl like Walsh. He coulda sing like Eddie Grant and waltz like he own Pegasus ballroom. And de piano?

Oh gosh, Frank use to mek it sing sweeter than steelpan on Mash Day.” De man seh, “Frank sound like he was one of a kind.” De driver seh, “Wait, me ain’t done. Frank brain was sharper than de Minister budget speech. De man remember

everybody birthday, anniversary, and even dem lil small thing like who drink Coke and who prefer beer. He could fix anything.

Me? I try fuh change one bulb and blackout de whole street. But Frank? He coulda fix a plane while it still flying!”

De man seh, “Frank really sound like a miracle.” De driver seh, “And Frank know every shortcut in Georgetown. Traffic jam?

Not fuh Frank.

He always reach he destination before time. Plus, he treat women like royalty.

Never raise he voice, even if she wrang.

And de man dress? Sharp like cutlass—shoes always shining like a police footwear on parade day.”

De man seh, “So where Frank deh now?

You know him good?”

De driver seh, “Nah, me never meet Frank. He dead. And me marry he wife.”

Talk half. Leff half.

thin air; it is a measure that considers the actual cost of h o u s i n g , f o o d , transportation, and other essentials. It is a yardstick for what it takes to provide workers and their families with a modest but dignified standard of living. By anchoring wage policies to this benchmark, governments can move beyond the optics of fairness and deliver tangible improvements to workers’ lives.Consider the transformative potential of such an approach. For the janitor earning $60,000, a living wage could mean access to better housing, reliable transportation, and nutritious meals. For the mid-level clerk, it might enable saving for some future need or to buy his or her own car. And for the senior administrator, it ensures that their earnings remain commensurate with their responsibilities and the market value of their skills.

A living wage framework also offers a pragmatic solution to the challenges posed by both the PPP/C and APNU+AFC models. It eliminates the arbitrariness of across-the-board increases while addressing

the compression concerns of weighted adjustments. By aligning wages with the cost of living, it provides a rational basis for salary increments that reflect both need and merit.

Of course, implementing such a policy is not without challenges. Determining the living wage requires robust data and regular updates to account for inflation and economic shifts. It demands a commitment to transparency and consultation with stakeholders, including labour unions, employers, and independent experts.

And, perhaps most crucially, it requires political will—the willingness to prioritize workers’ welfare over shortterm electoral gains.

The question of wages is ultimately a question of values. Do we value workers enough to ensure that their earnings enable a life of dignity? Do we recognize that fair compensation is not just a matter of economic efficiency but a moral imperative? The answers to these questions will define the legacy of any administration.

As it stands, the PPP/C’s approach ensures a modicum of predictability but

sacrifices equity. The A P N U + A F C ’s m o d e l aspires to fairness but risks undermining professional incentives. Both are trapped in the politics of the moment, unable to chart a path toward a more just and sustainable wage policy.

It is time to break free from this cycle of mediocrity.A living wage is not a panacea, but it is a start.

It is a commitment to workers and their families that their labour will be valued—not just in words but in wages. It is a recognition that economic policies must serve the many, not just the few. And it is a challenge to both government and society to envision a future where work is not just a means of survival but a foundation for a better life.

(The views expressed in this article are those of the author and do not necessarily reflect the opinion of this newspaper.)

Kaieteur News

PAGE 10 S

UTH

D TR

HAR

HK

BY G

LALL

Sunday December 15, 2024

H@RD TRUTHS

BY GHK LALL

Foreign investors riding Guyana like a donkey Wrong! The focus today is not on Guyana's great oil wealth. It is on that other grand patrimony, now in the background. Gold! Does Guyana have gold. And do some foreign investors know how to come here and rip the gold out of the ground, and rip the guts out of the governments of Guyana.

More than one of them, more than one time. It seems like all the time.

Look first at the Aussies who came and how well they did for themselves. Then look a little deeper, and refresh the memory of what they did to this country. The name Troy Resources should ring a bell. It ended up being a billion-dollar hole in the head.

Then, there was Golden Star that become Omai. I am in awe of this fine fellow, Mr. David Fennell. He usually makes it his duty to be around when gold concessions are available for the taking. He has made a killing in Guyana from being an investor, a man who has perfected the fine art of travelling from speculator to seller before one can count

to three. Rich mining lands are awarded, along with the company of some more sweeteners.

Duty-free concessions, and there is that memory that nags and would not let go. It involves taxes.

It is a rich one.

Three million ounces of gold shipped out by Omai (nee Golden Star), and Guyana's chief tax collector (the GRA) is left to count the lines in its hand, as though it is into reading palms.

For emphasis: 3,000,000 ounces of gold extracted and flown out of Guyana, and 0.00 cents in taxes collected.

Not one bloody cent! Then Omai ran into some difficulties, and hustled out of Guyana.

Slack local political leadership again, for the interested.

Thus, the precedent was set for Troy Resources to disappear when its turn came. What's a couple of billions among friends…?

All along, some of those same foreign investors were not sleeping, but busy plotting their next steps while circling around Guyana's

piles of gold like vultures.

They came up with a beauty: Reunion Gold. Man, do I like that christening, which was really about hiding out in the open. Peel back the layers, and it is indeed a reunion of Golden Star and Omai luminaries. Yes, the name David Fennell surfacing again. The man not only knows how to profit handsomely off Guyana's gold, he knows how to do so perpetually, it seems.

He certainly knows the right ears to whisper into, the right strings to pull. Maybe even the right package of incentives from his side to make things happen in golden hued Guyana.

Before long, Reunion became G Mining Ventures.

Over 600 million foreign money changed hands from this last sale among investors aka speculators cum sellers.

In the real estate trade that is called flipping. Guyana's rich mineral resources being flipped like pancakes, and not a crumb (or stray pancake) landing in Guyanese laps. Is this highstakes poker, or is this the

high crimes and treacheries of Guyana's Governments?

Isn't this Guyana being taken for a donkey, then ridden like one?

Where is President Ali amid all this? I concede that the best question is what has become of Guyana's presidency? Even if I were to strip his many titles away, and convert Vice President Bharrat Jagdeo into a nobody, he still has those potent residues that stick: he's a one-man lawmaker, one-man rule maker and oneman regulator.

It is obvious that Dr. Mohamed Irfaan Ali has either delegated all of his presidential powers to Dr. Nobody Jagdeo.

Or he has abdicated his high office. Delegated or abdicated -pick one. So, there is Reunion and G Mining Ventures and Omai (old and supposedly new).

And, naturally, Mr. David Fennell. To help me manage more seamlessly, I was planning to correspond with Mr. Alistair Routledge for a consultancy with Exxon. I scrapped that idea; too high

profile. Better to deal with the David Fennells: investor, speculator, seller and, c l e a r l y, a r e n o w n e d harvester of gold. Guyana gold, that is. He has that magic touch.

Looking at this from the point of view of starving and stricken citizens of Guyana, a few are benefiting from the prostituting of our resources, while the many are left to ponder how and why so.

Strangers and insiders are riding Guyana like a donkey and bright leaders like Drs. Ali and Jagdeo pick fights with Guyanese who ask why?

How is that so?

What's going on? I shouldn't be writing about this; the opposition should be kicking me to the corner to have its say. A scream, a curse, works powerfully.

At four flights per week by the Canadians to carry

away not what, but how much? Are Guyana's human resources assigned to stand duty for G Mining Ventures, to facilitate those flights?

And who knows what more.

Four flights a week to fetch gold (what else, scrap iron?) and nobody in Guyana knows whether Guyana gets 10% or 10 cents for its treasure. This is how foreign investors ride local leaders for a song. This is how foreign cartmen ride Guyana like a donkey.

I am applying. Not to be the donkey. But, the role of i n v e s t o r.

(The views expressed in this article are those of the author and do not necessarily reflect the opinion of this newspaper.)

The unlicensed firearm and ammunition that was found

Security guard arrested after nabbed with illegal gun, ammo A security guard was arrested early Saturday morning, after he was nabbed with an unlicensed firearm, along with nine rounds of ammunition at Cummings Street, Georgetown.The arrested man has been identified as Avishaun Munroe. Police said that at around 03:45h, they stopped the car that Munroe was driving and conducted a search. He was found in possession of a .32 Taurus pistol, along with nine matching rounds of ammunition, in his pants waist.

When asked whether he has a licence to carry the firearm, Munroe said, “no”.

“He said the firearm is owned by the security service that he is working with,” police reported.

Munroe was taken to the Alberttown Police Station, along with the firearm and

Avishaun Munroe ammunition which were marked, sealed and lodged.

The weapon and the ammunition will be taken to the ballistics section of the Guyana Police Force for analysis.

Munroe remains in police custody as investigations continue.

Sunday December 15, 2024

Kaieteur News

PAGE 11

Kaieteur News

PAGE 12

Sunday December 15, 2024

Java Coffee Bar celebrates 10th Anniversary J

ava Coffee Bar, on Friday, celebrated its 10th anniversary while reflecting on a decade of growth, innovation and unwavering commitment to

serving quality coffee with heart.

“From its humble beginnings in the Sharon’s Mall in 2014, Java Coffee Bar has grown into a

multifaceted enterprise with locations in Giftland Mall, Movietown Mall, Duncan Street, a mobile event bus, and a private canteen serving the oil and gas sector.”

J a v a C o f f e e B a r ’s journey has been fuelled by a deep connection to the communities it serves. With a salute to “10 Years of Serving Coffee with Heart,” this milestone celebrates not just its success as a business but its role as a community hub, a workplace of choice, and a provider of thoughtful, high-quality services that go beyond coffee,” a statement issued by the Bar said.

Over the years, Java Coffee Bar has expanded its footprint and offerings to meet the evolving needs of its customers. The company now provides meals, hosts pop-up events, and operates a 24/7 mobile coffee bus that services the oil and gas industry, a testament to its adaptability and innovative spirit.

From coffee to community impact Java Coffee Bar’s mission has always been about more than coffee. By creating welcoming spaces and offering exceptional service, the company has cultivated a sense of belonging among customers, employees, and partners.

The company has, over the years, supported many

Java Coffee Bar was founded by Miguel and Evie Gurchuran. charities, BSOs, social causes, and micro entrepreneurs.

Ensuring that there was always space, support and a warm cup to help anyone along. As it enters its second decade, the Java Coffee Bar remains committed to making a difference.

The company aims to deepen its impact through innovative collaborations, expanded community engagement, and continued

excellence in delivering services that touch the heart.

“Our 10-year journey is a reflection of the incredible people we serve and the passionate team that drives us forward,” said Evie Gurchuran, Co-Founder and CEO. “As we celebrate this milestone, we are inspired to continue making an impact.”

To mark the milestone, Java Coffee Bar will host a Continued on page 50

Sunday December 15, 2024

Kaieteur News

PAGE 13

Dr. Dave Lalltoo

Dr. Dave Lalltoo picks the first harvest of lettuce from the Queen's College Hydroponics Kitchen Garden.

Guyanese brand consultant & environmental advocate,

Dr. Davindra 'Dave' Lalltoo

is a 'Special Person’

Escapè Book Club th hosts 4 annual holiday gift drive

Escapè Book Club Founder, Sameerah Mohamed-Ferouz (centre) is joined by other club members as they spread Christmas cheer with gifts and goodies.

PAGE 14

Kaieteur News

Sunday December 15, 2024

Naheeryah

Naheeryah Newland, is an ambitious young Guyanese who launched her own skincare business, with no prior experience, at the age of 17. Through dedication and passion, she became a self-taught product formulator, creating a range of products such as soaps, lotions, and cleansers. Naheeryah recently copped the first runner up post at the Miss Guyana World Pageant. Her favourite Guyanese quote is: “One one dutty build dam”. (Profile Credit: Miss Guyana World Website)

Newland

This week’s beauty,

Sunday December 15, 2024

Kaieteur News

PAGE 15

Let the asylum seekers go: a first step for Venezuela to rebuild relations in the Americas

BY SIR RONALD SANDERS The government of Nicolás Maduro in Venezuela has steadfast support from many friends in the Caribbean and other parts of the world, despite numerous allegations of violations of international law, aggressive acts toward its neighbour Guyana, and intolerance of political dissent.

Yet, these actions have driven millions of Venezuelans to flee their homeland, making them the second-largest group of refugees globally. Thus, the Venezuelan government has also created hostility from many of its closest neighbours in North, South and Central America.

This tension came to a head on Wednesday, December 11, 2024, at a Special Meeting of the Permanent Council of the Organization of American States (OAS), which I presided over as Dean of the Ambassadorial Corps.

During this meeting, fourteen member states of the OAS, led by Argentina, read a statement into the record expressing profound concerns about the situation in Venezuela.

The concerns related to six members of the opposition who sought asylum in the Argentine Ambassador’s official residence following the disputed presidential election of July 28, 2024. Nicolás Maduro was declared the victor amid claims of electoral rigging by international observers and numerous Western governments.

The Argentine Foreign Minister G e r a r d o We r h e i n a c c u s e d Venezuela of harassing the six opposition members—Omar González, Pedro Urruchurtu Noselli, Magalli Meda, Claudia Macero, Humberto Villalobos, and

Fernando Martínez Mottola. They are allies of opposition leader María Corina Machado, who was barred from running in the July 2024 election.

Werhein detailed acts of “physical exhaustion” and “psychological terror” inflicted on the asylees, including water cuts, electricity interruptions, restrictions on food deliveries, and constant surveillance of the Argentine diplomatic compound in Caracas in which they have sought and been granted asylum in accordance with international law.

The statement was not supported by 11 CARICOM countries and 7 Latin American states which have maintained cordial ties with Maduro’s government. Paradoxically, these countries have a strong tradition of democracy, the rule of law, and free and fair elections in their own countries. These nations are also bastions of political and human rights, accepting free speech and dissent while rejecting the repression of political opponents.

Their good relations with the Maduro government stem in part from gratitude for the assistance Venezuela provided after the global recession of 2007-2009, particularly through the PetroCaribe initiative which eased the burden of high oil prices.

However, such gratitude can be eroded by overt infractions of democracy and international law by the Venezuelan government.

For the 11 Caribbean nations to maintain credibility as advocates for democracy and justice, particularly when seeking economic and climate justice on the global stage, they cannot ignore breaches of these principles by any

country, including Venezuela.

T h e r e f o r e , i f M a d u r o ’s government wants to retain and strengthen the support of its Caribbean friends, it must demonstrate readiness to uphold democracy and honour the international conventions to which it is a signatory.

The Venezuelan government knows better than anyone else that it has already lost the trust of many of its traditional friends in South and Central America, and that the countries of North America are already intent on isolating it.

One of the conventions to which it should show respect and adherence is the “Convention on Diplomatic Asylum,” concluded in Caracas in 1954 with Venezuela as an original signatory.

Article 1 of this Convention states: “Asylum granted in legations, war vessels, and military camps or aircraft, to persons being sought for political reasons or for political offenses shall be respected by the territorial State in accordance with the provisions of this Convention.” Yet, the Maduro government is accused by 14 neighbouring states in The Americas of violating this principle. It lies at the crux of the present tension between Venezuela and Argentina.

At the OAS meeting, Brazil’s Ambassador to the OAS, Benoni Belli explained the situation. He told the Meeting that since August 2024, the Argentine diplomatic premises have been under Brazil’s custody at Argentina’s request and with Venezuela’s consent, in keeping with adherence to the Vienna Convention on Diplomatic Relations, which mandates the inviolability of diplomatic

premises and the protection of mission properties, even in cases of severed relations.

However, on September 6, Venezuela revoked Brazil’s authorization, accusing the asylees of having conspired to commit terrorist acts—claims unsupported by any publicly presented evidence. The Ambassador emphasized that, to date, no alternate custodian has been appointed by Argentina or accepted

by Venezuela, leaving Brazil to continue its custodianship.

This impasse further deepens the international community’s c o n c e r n s o v e r Ve n e z u e l a ’s commitment to the Vienna Convention and the Convention on Diplomatic Asylum.

For Venezuela, this situation presents both a challenge and an opportunity. While its actions may be dictated by domestic political considerations, adherence to international law offers a path to rebuilding trust among its neighbours in the Americas.

By upholding the inviolability of Argentina’s diplomatic premises and granting safe passage for the a s y l e e s , Ve n e z u e l a c a n demonstrate a renewed commitment to the principles of diplomacy and international cooperation. This could ease regional tensions and open doors to economic and political cooperation, ultimately benefiting the Venezuelan people.

This issue transcends domestic political considerations; it is a test of Venezuela’s willingness to respect established norms and conventions that underpin global order. The international community has made its sentiments clear that compliance with these norms is a

SIR RONALD SANDERS l egal o b l i g a t i o n . H o w e v e r, f o r Venezuela, compliance could also be an important step toward mending strained relations in the region.That is why the Maduro government should carefully consider the repercussions of its actions. Neighbouring states value democracy and justice too deeply to ignore transgressions.

Venezuela’s actions will determine whether it continues down a path of isolation or begins to restore its place of respect among its regional and global peers.

The path forward is clear: uphold international law, honour commitments to diplomatic conventions, and respect human rights—values championed, p a r t i c u l a r l y, b y C a r i b b e a n countries.

Taking these steps will ensure the safe passage of the asylees under international law. It will also send a powerful signal that Venezuela is ready to re-engage with the international community in good faith. (The writer is A n t i g u a a n d B a r b u d a ’s Ambassador to the US and the OAS. The views expressed are entirely his own. Responses and p r e v i o u s commentaries:www.sirronaldsan

Kaieteur News

PAGE 16

WEEK-IN-REVIEW Sunday ‘ExxonMobil free to sell assets being paid for by Guyana to clean up oil spill’ - Jagdeo Although Guyana is paying for the assets being used in the offshore production of oil in the Stabroek Block through the cost recovery mechanism, this does not make the country a part owner of the assets. This therefore means that in the event of an oil spill, as a result of the activities in the resource rich offshore acreage, ExxonMobil will be free to sell the assets to respond to such an event.

This explanation was offered by Vice President Bharrat Jagdeo, the country’s Chief Policymaker on the oil and gas sector.

During his Thursday press conference at Freedom House in Georgetown, this newspaper reminded the VP that he previously said the two Floating Production Storage and Offloading vessels (FPSOs) purchased

by Exxon recently, can be sold to handle costs related to a spill. He was asked to explain the logic, since Guyana is repaying those expenses through the cost recovery feature, provided in the contract.

According to the 2016 Production Sharing Agreement (PSA) Guyana signed with Exxon, the contractor can deduct up to 75% of the oil produced each month to recover costs or investments made. The remaining oil is then shared equally with Guyana as profit.

As such, this newspaper asked Jagdeo, “…why should we sell our own assets to take care of an oil spill?”

In his response, the VP explained, “It’s a simple thing. You’re not part owner of any company. You don’t own these assets. So, ExxonMobil puts in the investment. They create a company; the company has these assets. We are entitled to receive in the future, 50%, once everything is paid off…you are entitled to collect 50% of future profits and they get 50% and then 2% royalty on the gross…that’s your entitlement to collect.”

A noticeably annoyed Jagdeo continued, “It’s a simple thing. Why do we

have to keep explaining this all of the time? We don’t own 50% of the company. We have an entitlement as a state to 50% of the revenue. That is why we don’t have to supply any capital to invest, we don’t supply any capital.”

He pointed out that the C o - Ven tu r er s r ais e th e capital and invests, allowing Guyana to enjoy the entitlement.

On the other hand, Jagdeo said that if the company was to dissolve and sell the assets, Guyana may then be entitled to 50% of the assets. “Now if you have a dissolution of the company and they sell off the assets, I guess we are entitled to 50% of the assets too in the situation where you dissolve the company so I hope that clarifies your question,” he noted.

Exxon’s investment?

Previously, Attorney-atLaw and Chartered Accountant, Christopher Ram identified Guyana as a co-investor in the Stabroek Block, as a result of the lack of ring-fencing.

It should be noted that to date, the cost of the three projects producing oil could have been recovered by ExxonMobil. They carry a collective price tag of US$18.5B, while more than US$25B has so far been recovered by the Stabroek Block partners- Exxon, Hess and CNOOC. Liza One, pegged at US$3.5B, Liza Two which costs US$6B and the US$9B Payara project could have each been paid off in 2023 had Guyana ring-fenced the projects. A ring-fencing provision would mandate each project to pay for itself.

After the cost of the project has been repaid, Guyana is poised to receive 50% of the revenues generated at the project. This means that revenue flow to the Natural Resource Fund (NRF) would significantly increase.

In the absence of this key principle, ExxonMobil is free to use the revenues from these producing fields to fund projects that are yet to commence production or invest in its exploration activities across the Block.

Ram had addressed Jagdeo’s rejection of his claim that Guyana is a de facto investor in petroleum operations. Jagdeo said he has not seen any borrowing by the government injected into the petroleum sector hence Guyana cannot be considered an investor.

The lawyer however pointed out that the Vice President must know that borrowings are only one form of financing of investment. Ram said, “As any company finance executive, or any review of financial statements of Banks DIH or DDL would elucidate for him, there are two other principal methods – raising money from shareholders via equity or preference shares, or retained earnings of the company.”

“It is a logical corollary that by virtue of being a 50% participant in profit oil from the Stabroek block, Guyana is bearing 50% of all costs, contractually or otherwise deemed recoverable,” Ram said.

The worse the deal, the more likely it is to be renegotiated - Oxford Energy ...three countries successfully changed terms to increase government’s share W i t h o u t a n understanding of the facts underlying a renegotiation, one can easily jump to the wrong conclusions, and that is precisely what seems to have been happening with alarming frequency on the conference/ seminar circuit, where conclusions are too often drawn from incomplete information derived from press releases or press reports.

Oxford Energy Forum in an August 2010 research paper documented the events that led up to renegotiated oil contracts in three countries, Venezuela, Bolivia and Kazakhstan.

According to the document, many of those contracts were not only economically indefensible, but they also purported to cede control over petroleum operations to private parties, often in a manner that raised serious legal issues going to the heart of the contracts.

All this has led to contract renegotiations, and in some cases, complete national industry restructurings, in the last few years. In many countries, this has involved fundamental issues of structure and governance; all cases involved adjustments in government take.

Host countries that have taken measures in this direction include Algeria, Bolivia, Canada, China,

Sunday December 15, 2024

Vice President, Bharrat Jagdeo Ecuador, Kazakhstan and Venezuela, all of which imposed new taxes and royalties on production, exports or windfall profits.

Bolivia and Venezuela also mandated structural changes for all contracts in their hydrocarbons industries. In Alberta, Canada, the provincial government announced a 20 percent increase in oil and gas royalties.

The US Government provided Congress with a report in May 2007 on the question of increasing oil and gas royalties, including a comparison of royalty rates under fiscal regimes around the world, in response to concerns that government take was not keeping pace with record oil company profits. Oil executives were called before Congress to defend windfall profits, and S a r a h P a l i n ’s A l a s k a collected billions in additional revenue from a new windfall profits tax.

Three Case Studies Three of the best-known renegotiations or industry restructurings of the last few years involved the operating service agreements (convenios operativos) in Ve n e z u e l a , t h e g a s production contracts in Bolivia, and the renegotiation of the world’s largest production sharing agreement, the one covering the Kashagan field in Kazakhstan.

Contract negotiation services Venezuela I n Ve n e z u e l a , approximately 500,000 barrels per day were being produced under the operating service agreements, which were supposed to be pure service contracts. The 1975 Law Regulating the Industry and

Trade of Hydrocarbons did not allow, except in certain cases approved by Congress, any private participation in production. Service contracts were allowed for basic services, such as drilling and seismic survey, but these were supposed to be pure service contracts, not contracts mimicking production sharing agreements that effectively granted the contractors a participation in the business.

T h e Ve n e z u e l a n operating service agreements, although structured as service contracts, were in substance anything but pure service contracts. They ceded control over petroleum operations in huge areas for 20 years, and compensation was based on the volume and value of production. Many of the service providers were in effect senior partners in the business, on average taking more than half the value of production.

In some cases, the state company actually lost money for each barrel of oil produced, after accounting for the royalty owed to the State. Making matters worse, the contractors, claiming to be only service providers, argued that they were subject to the non-oil income tax rate of 34 percent rather than the rate applicable to oil producers, 50 percent. In April 2005, the Venezuelan Government intervened to require migration of the operating service agreements to the new structure of mixed company (empresa mixta) under the 2001 Organic Hydrocarbons Law, and 30 out of 32 contracts were successfully migrated over a one-year period. The other two resulted in negotiated settlements.

The new mixed companies emerging from the migration of the operating service agreements are all subject to combined royalties and special advantages (ventajas especiales) of 33 1/3 percent, as well as the 50 percent oil income tax rate. A special assessment for extraordinary prices also applies when the price of crude oil exceeds $70 per barrel. Apart from the fiscal regime, a state company is by law the owner of at least 60 percent of the shares of each of the new mixed companies. Basic minority protections are included in the by-laws, but the legal issue of control has been resolved.

Bolivia Turning to Bolivia, we again hear a lot of talk about resource nationalism, but little about the facts of the old agreements. Prior to 2005, contractors were taking 82 percent of production from Bolivia’s giant gas fields, paying only an 18 percent royalty. This was after all investment that had long ago been recovered.

The contracts had never been approved by Congress, as appeared to have been required by the Constitution.

By 2005, the situation had become untenable. A new Hydrocarbons Law was enacted in May of that year, imposing a 32 percent tax on the gross value of hydrocarbons (Impuesto Directo a los Hidrocarburos) in addition to the 18 percent royalty, thereby reducing the private party’s share to 50 percent. The Hydrocarbons Law also provided a sixmonth period for migration of all existing contracts to one of the new legallysanctioned forms of contract.

That six-month period expired with no progress on the migration. On May 1, 2006, the new administration again nationalised the industry, granting another six-month period for the conversion of the old contracts. While the new operating contracts were being negotiated, the state company was given a provisional 32 percent share, reversing the old 18/82 split to 82/18. Six months later, all of the contractors executed the operating contracts, which are structured as service contracts with the service providers receiving remuneration in cash, not oil.

Kazakhstan The third case study is (Continued on page 17)

Kaieteur News

Sunday December 15, 2024

From page 16 the renegotiation of the PSA covering the world’s largest discovery in three decades: Kashagan in Kazakhstan.

There the heart of the problem was the concept of cost recovery, under which a large percentage of production, known as ‘Cost Oil,’ is allocated off the top to the contractors to recover their costs. In the case of Kashagan, that percentage was 80 percent. After allocation of that 80 percent t o t h e c o n t r a c t o r, t h e remaining production, known as ‘Profit Oil,’ was allocated initially 90 percent to the contractor and 10 percent to the State, a ratio that was eventually supposed to change in favour of the State based on a set of complicated triggers set forth in the agreement.

Until then, the contractor would continue to receive 80 percent of the Cost Oil and 90 percent of the Profit Oil, or 98 percent of total production. Despite what many feel is a textbook alignment of interests in a contract including such cost recovery provisions, experience shows that this structure is often a recipe for disaster, and that is exactly what happened in Kashagan.

Overall costs of the project increased by more than 100 billion dollars, and production, originally scheduled to start in 2005 or 2006, now is scheduled for 2012.

The net result was that in the world’s largest discovery in recent times, which is expected eventually to produce 1.5 million barrels per day, the state would have received a grand total of only 2 percent of the oil produced for at least the first decade of production, not including the relatively small participation of a subsidiary of the national oil company in the contractor consortium. That was obviously an unacceptable situation, which most people with knowledge of the facts fully recognised. In the renegotiation, the national oil company’s subsidiary doubled its stake in the project, a new ‘priority share’ was allotted to the Government off the top, and new cost and schedule control mechanisms were introduced to help guard against future cost increases and delays.

What lessons can be drawn from these experiences?

PAGE 17

A section of the Oko West Gold Mine

First, bad deals spell trouble. The worse the deal, or the more imbalanced the deal, the more likely it is to be renegotiated. That goes for both sides. One might say that the best form of stabilisation is an equitable deal. Second, don’t believe everything you read in the papers. Most of the renegotiations or industry transformations have ended in success, which says something about the reasonableness of the processes. The objective has not been to exclude private participation from the petroleum industry or to make it economically nonviable, but rather to put it on a sound legal and economic footing. Third, most renegotiations take place without adversarial proceedings, another indication that reason tends to prevail on both sides.

There is a school of thought that favours adversarial proceedings, mainly arbitration, as a negotiating tactic, but the wisdom of using that tactic would not appear to be borne out by experience. Finally, terms such as ‘resource nationalism’ are an over simplification of what has been happening on the ground and are no substitute for informed analysis of both the facts and the legal issues underlying the major renegotiations of the last five years.

Monday Canadian mining company to construct wharf, staging area for Oko West Gold Project Canadian mining c o m p a n y, G M i n i n g

Ve n t u r e s ( G M I N ) h a s announced plans to establish a new port of entry wharf and staging area near Itabali on the Cuyuni River to support operations for its Oko West Gold Project located in Region Seven (CuyuniMazaruni).

This development, detailed in the Environmental Impact Assessment (EIA) published on the Environmental Protection Agency’s (EPA) website, is part of the company’s infrastructure strategy for the project.

The facility will include a wharf, laydown area, and accommodations for workers, with a 40-bed camp planned for the site.

Materials and fuel required for the pre-operation and operation phases will be delivered to this landing.

Originally, Pine Tree Wharf was identified as the preferred location for the barge loading terminal.

H o w e v e r, G M I N w a s informed earlier this year that the area was already leased. After evaluating nearby alternatives, the company selected a new site approximately 500 meters from Pine Tree Wharf. This location was chosen for its proximity to existing road networks and reduced need for extensive earthworks.

Pre-production activities, including the development of the wharf and terminal, are slated to begin in September 2025 and conclude by December 2026. The infrastructure upgrades will play a critical role in supporting GMIN’s operations and enhancing logistics for the Oko West Gold Project.

This publication recently reported that the company

stated that an airstrip will be constructed in the project area. It was explained that while a number of alternative locations were considered, in the end it was decided that the airstrip will be located to the south of the mine infrastructure and close to the pit/processing plant.

The airstrip will be designed to accommodate airplanes up to the size of a Twin-Otter or Caravan and will be approximately 850 meters long. The airstrip will be used for the export of gold, personnel transport, and health and safety emergencies during all phases of the Project,” it was stated.

When operational, it was stated that the flights will occur during daylight hours, as the airstrip will not be lit.

“The airstrip will be unpaved and constructed from laterite. The airstrip will be oriented northeastsouthwest, as required by prevailing winds,” the document states.

M o r e o v e r, G M I N i s aiming to produce approximately 5 million ounces of gold over 14 to 16 years. In July 2024, GMIN bought Reunion Gold, another Canadian company for some US$638 million–through this transaction GMIN acquired Reunion’s flagship Oko West Mine.

The Oko West Project is currently considered an “advanced-stage exploration project.” The Mineral Resource Estimation (MRE) dated 26th February, 2024 is 4.27 million ounces of gold in indicated resources and 1.60 million ounces of gold in inferred resources. The Oko West project is expected to produce 353,000 ounces

of gold annually from both open pit and underground mining. According to the EIA, “planned production of approximately five million ounces of gold over 14 to 16 years from the processing of an estimated 65 to 70 million tons of ore, creating 280 to 350 million tons of waste rock and 65 to 70 million tons of tailings.”

Oil money Board and Committees toothless, useless - Former Finance Minister …former Coalition Gov’t had commenced talks with Commonwealth to establish regulations to identify use of NRF Former Finance Minister Winston Jordan has described the Board of Directors as well as the two Committees provided for by the Natural Resource Fund (NRF) Act of 2021 as toothless and useless.

During an online broadcast, ‘The Countdown’, on Sunday, Jordan delved into the ongoing debate surrounding the lack of transparency in the use of revenue garnered from the oil and gas industry.

He shared the view that the NRF Act, passed by this administration, makes provision for a Board of Directors to aid in transparency of the Fund.

However, this body has only managed to produce a report annually, with regurgitated newspaper articles on the activities of the fund such as how much was deposited.

Jordan explained that the legislation provides for the appointment of a Board with no less than three and no more than five members, to be appointed by the

President. He observed that this feature amounts to no less than a political Board.

Moving on to the functions of this body, he explained that the Board is tasked with the overall management of the Fund; reviewing and approving the policies of the fund; ensuring compliance with the approved policies of the Fund; exercising general oversight of all aspects of the F u n d ’s o p e r a t i o n s a n d ensuring that the Fund is managed in compliance with the Act and all other applicable laws.

Jordan expressed for listeners and viewers of the programme, his thoughts on the performance of the Board, relative to its legally required functions.

According to him, “The Board cannot tell the government when to withdraw and how much to withdraw. Indeed, how much to withdraw is already in the Act…so essentially, the Board is managing a thin slice of the Fund. They are not managing the Fund, they are managing a thin slice, no more than maybe 10% of the funds that go into the Fund.”

With regard to reviewing and approving policies of the NRF, the former Finance Minister questioned the existence of such. “What policies of the fund? Like how many times they are going to meet? What are they going to discuss? They are only going to discuss this thin slice. There is nothing else to discuss,” he contended.

On the other hand, he questioned the compliance feature of the Board. He questioned, “Who they ensuring compliance by and where are these policies anyhow? Are they made public? Are they in the Gazette? Are they in a manual?”

Finally, he said, “What oversight is this Board exercising over the massive sums of money the government has withdrawn from the Fund and has been withdrawing from the Fund so far?”

Rubberstamps vs transparency Jordan argued that the government pulled over 70% of the provisions from the previous NRF Act, knocking-out key safeguards instituted for transparency purposes.

He said since 2022 he warned that the Board as (Continued on page 18)

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From page 17 well as the two committees are rubberstamps. Jordan argued, “They are toothless and useless where the management of this Fund is concerned and I’ve been proven correct.”

The former Minister admitted that the while the previous legislation made no provision for a Board of Directors, it required the establishment of a Public Accountability Oversight Committee, which was tasked with monitoring and evaluating the compliance of the government and other relevant persons with the Act; monitoring and evaluating whether the Fund has been managed in accordance with the principles of transparency, good governance and international best practices including the Santiago Principles; providing independent assessment of the management of the Fund; utilization of withdrawals from the Fund and facilitating public consultations on the management of the fund.

Jordan was keen to note that this body comprised of 22 stakeholders, including c i v i l s o c i e t y, t h e B a r Association of Guyana, the Guyana Extractive Industries and Transparency Initiative, Transparency Institute, the Guyana Press Association, Trade Unions, Chartered Accountant, Private Sector Commission and University of Guyana, among others.

He said while former President David Granger was adamant to set up a specific fund to save the wealth generated from the sector, this government was more interested in having the resources pooled into the Consolidated Fund to comingle with other revenue streams.

He pointed out that while the government failed at removing the NRF law, it has emasculated it in a manner that leaves little or nothing for generational savings and to buffer the economy in the event of lower oil prices.

Discussions with Commonwealth for NRF Regulations Further, Jordan noted that the previous Act also provided for national development priorities to be funded through oil resources; however, Guyana was encouraged by the Commonwealth to develop regulations to clearly define

details, such as how the money would be accounted for in the Budget. This includes a special line to identify the projects being financed through oil revenue. This would also mean that these ventures would be subjected to a special audit. To this end, Jordan said, “All of this should have been in regulation and we had just started discussions with the Commonwealth about assistance for developing the regulations of the Fund.”

He added, “It is unfortunate that national development priorities are, today, being blamed…but the general idea was that that would have been the granular details, national development priorities would have been put in regulations.”

The former Minister and Member of Parliament highlighted that the Law currently provides for the Minister of Finance to develop regulations for the Fund. Be that as it may, he pointed out that there are presently no regulations governing the revenues from oil and gas. Jordan also made it clear that he is confident there will not be a shift to this direction.

In the meantime, he explained that the former government intended to have revenues from oil be used to finance selective programmes and projects, which would be clearly itemized in the Budget. For instance, he listed the new Demerara River Crossing as a key example of a national

made by Vice President and Chief Policymaker for the Oil and Gas Sector, Dr. Bharrat Jagdeo, who told reporters during his press conference on December 5, 2024, that showing how oil money is being used would be difficult.

He explained, “How do you balkanize revenue coming into the Budget? (It) becomes a very difficult thing to do. So, where the transparency is done, transparency is that every cent spent from oil money, from non-oil revenue and from borrowing has to be appropriated by the National Assembly through a Budgetary Appropriation Process, whether it is the original Budget or through Supplementary Budgets, which then form an appropriation act or a s u p p l e m e n t a r y appropriation act, which itemizes all of the expenditure of the state and how much is going to be spent…”

Tuesday ‘Get better fiscal terms before approving Exxon’s 7th project’ - Opposition parties tell govt Three of Guyana’s top opposition parties- PNC, AFC, and WPA are all demanding that the government better secure better fiscal terms from ExxonMobil before it grants the permit for the seventh project- Hammerhead.

ExxonMobil has made an

Co-Leader of the Working People’s Alliance (WPA), Dr. David Hinds.

development priority that would have been financed through this stream as well as the Georgetown to Lethem roadway, hospitals and modern schools among others, like a cash transfer.

“We had our ideas. Not for any and everything to be financed by the Natural Resource Fund.”

Jordan’s comments stem from the recent statements

application to the seventh project, but Vice President, Bharrat Jagdeo has said in the past that there is no guarantee approval would be granted. During a press conference in August, Jagdeo when questioned on the seventh project said, “When and if…if and or when and if we approve the project then you will be told about what the benefits will

Sunday December 15, 2024

Former Finance Minister, Winston Jordan be.” At that time, the former H ea d - o f - S t a te s a id t h e company had not yet made an application for the project. Following the official application by the company, Jagdeo was again asked to comment on the project when he announced that government has discontinued an advertisement for a consultant to review the Hammerhead project.

According to him, the information the company presented was incomplete.

Hammerhead is located in the south-central portion of the Stabroek Block, approximately 160 km from Georgetown. Current plans include drilling via drill ships to produce oil using approximately 14 to 30 production and injection wells. Production is expected to begin in 2029 subject to the necessary regulatory approvals and operate for at least 20 years.

In the Project Summary submitted by Exxon to the EPA, the company explained that the project is expected to add 120,000 to 180,000 barrels of oil per day production capacity.

The Floating Production Storage and Offloading (FPSO) vessel will be capable of storing approximately 1.4 to 2 million barrels of oil. Thirdparty oil tankers will be scheduled to offload the oil from the FPSO, making the oil available for export to the international market. To date, Exxon has obtained approval from the Government of Guyana for six development projects in the Stabroek Block – Liza Phase One, Liza Phase Two, Payara, Yellowtail, Uaru and Whiptail. The first three projects are already producing oil at a daily estimated rate of 640,000

barrels per day (bpd).

Speaking at his party’s press conference on Monday, Co-Leader of the Working People’s Alliance (WPA) Dr. David Hinds said his party is concerned about government engaging ExxonMobil in a lopsided arrangement. He said Guyana must leverage its ‘sweet crude’ for any future negotiations. Dr. Hinds told reporters that “we (WPA) think, given what we have, given the volume of oil that we have, given the quality, the sweet oil that we have, we do have some leverage there, and that our government should exercise that leverage. So, WPA is not opposed to renegotiation with Exxon that would bring maximum benefits to our country.”

He explained that WPA is interested in ensuring that any future negotiations between Exxon or any other o i l c o m p a n y, a n d t h e government are free from the mistakes of the past in terms of the 2016 PSA…” The CoLeader of the party made it clear that he is not asking the government to take the members of the opposition to the negotiation table when the negotiations are to be done, but rather there should be consultations with the political oppositions any other major stakeholders before engaging Exxon, highlighting that this is something they feel strongly about. “We think that was one of the weaknesses of the first negotiation. Secondly, we would like some of the issues that were raised about the first negotiation to be ventilated.”

Secure additional benefits Recently, the Alliance For Change (AFC) said that government needs to secure additional fiscal benefits for its people ahead of the

granting of a permit to ExxonMobil Guyana for the 7th oil project – Hammerhead. On Friday, during the party’s weekly press conference, Kaieteur News asked whether the party believes there should be more fiscal benefits ahead of the approval of the permit.

Chairman of the party, David Patterson told reporters that Vice President Bharrat Jagdeo, who is also the country’s chief policymaker on oil and gas, should focus his attention on deriving more benefits from the oil company. “Jagdeo and the PPP instead of doing what they should be doing trying to make the country better are taking out the big stick method, threatening that they will withhold permission on (7th project),” Patterson said.

The People’s National Congress Reform (PNCR) is also calling for better fiscal terms before granting of the permit for the seventh project. Advisor to the party on oil and gas, Elson Low said the party always held the position that it is critical for the government to have discussions with ExxonMobil to derive additional benefits for the people of Guyana. Low was asked by Kaieteur News whether his party believes that more benefits ought to be obtained before the approval of the project. “It doesn’t have to be at the instance of the granting of an additional permit, it could be in the near future. It could be that the government engages with consultants, and with legal representation to have that discussion and prepare itself. Rather, we have not seen any movement on that front,” Low said.

The government, opposition and several other stakeholders both locally and internationally have acknowledged the lopsided nature of the 2016 agreement, which waives all taxes for the oil companies, requiring the government to pay Exxon and its partners’ taxes from Guyana’s share of oil profits.

The deal also grants Guyana only a 2% royalty on its resources and allows the companies to recover 75% of their investments before splitting the remaining 25%, with Guyana receiving just 12.5%.

Furthermore, the contract also lacks a ringfencing provision. This (Continued on page 36)

Sunday December 15, 2024

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Guyanese attorney is new Deputy DPP of Belize

S

heiniza Smith, a G u y a n e s e attorney, has been appointed to the position of Deputy Director of Public Prosecutions (DPP) of Belize. Ms. Smith was officially appointed to the position on December 2, 2024.

Ms. Smith, who currently resides in the Central American country, has made significant strides in her legal career since migrating to the country in March 2011 to take up contractual employment at the Office of the DPP as a Crown Counsel.

During her tenure at the Office of the DPP in Belize, Ms. Smith has successfully prosecuted both capital and non-capital matters in the Belizean High Court. Since 2016, she has also argued appeals before the Court of Appeal of Belize.

In 2018, Ms. Smith successfully argued her first appeal before the Caribbean Court of Justice (CCJ) in the

case of Dionicio Salazar v. the Queen, and more recently, in the case of Tevin and Rewin before the same Court, between 2012 and 2019.

“I had the privilege of working as an adjunct lecturer at the University of Belize, where I taught Labour Law, Constitutional L a w, P r o b a t e a n d Succession, Equity, and other law-related courses,” Ms. Smith stated.

In 2015, she was promoted to Senior Crown Counsel, before she was promoted to the post of Deputy DPP. The lawyer explained that due to the lack of a p r o p e r o rg a n i z a t i o n a l structure, there were no higher posts between Senior Crown Counsel and DPP. However, after much effort on her part, the position of Assistant DPP was created and the post of Deputy DPP was restored last year.

Ms Smith is originally from Plaisance, East Coast

Former Berbice school teacher makes New York magazine cover

Dr. Vivian M, Williams Esq.

N

ow a prominent lawyer in the United States of America (USA), Dr. Vivian M. Williams ESQ has been selected for a cover feature in the 17th edition of the M a r q u i s W h o ’s W h o Millennium magazine.

The NY magazine has been around since 1899, chronicling the lives of the

most accomplished individuals and innovators.

These individuals are selected from every significant field of endeavour, including politics, business, medicine, law, education, art, religion and entertainment.

For its 17th edition, it has selected a Guyanese, Dr. Williams, who hails from the (Continued on page 23)

Demerara. Ms Smith is daughter of Michael Smith and Sharon Rollox, the granddaughter of Clinton and Clarice Rollox (both deceased), and the younger sister of Sonita Smith.

Ms. Smith completed her LLB programme at the University of Guyana (UG) in 2009. She was the recipient of the Anne Blue Memorial Award for the best-performing 2nd-year student before graduating with distinction.

“I obtained my Legal Education Certificate with honours from the Hugh Wooding Law School in Trinidad in 2009 and received the RBTT prize for the law of succession.

After graduating from law school, I began my career at DeSantos and Associates under the mentorship of Mr. Bernard

DeSantos SC (now deceased), a close friend of m y g r a n d f a t h e r. H i s guidance and confidence in me were instrumental in s h a p i n g m y c a r e e r.

Following his mentorship, I migrated to Belize,” Ms Smith recalled.

In October 2024, she graduated from Cave Hill University with a Master’s in Legislative Drafting with Distinction. Additionally, she successfully completed the New York Bar Exam in 2022.

In a statement to The Waterfalls, Ms. Smith said “I owe much gratitude to God, for His faithfulness; my teachers, for their c o m m i t m e n t , encouragement, and demonstration of confidence and my family and friends for their unconditional love and support.”

Sheiniza Smith, a Guyanese attorney who has been appointed Deputy DPP of Belize

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GNBS IN FOCUS:

MAKING PLAYTIME SAFER – GNBS MONITORS TOY SAFETY THIS FESTIVE SEASON

A

s the holiday season lights up homes and hearts across Guyana, the joy of gift-giving will see a variety of toys for children under Christmas trees.

However, behind the festive cheer lies an important responsibility which is to ensure the safety of these toys for children.

As usual, the Guyana National Bureau of Standards (GNBS) carries out its regulatory responsibility to ensure toys are not only attractive and fun-like, but also safe for the children we cherish most.These products are monitored based on the requirements stipulated in the National Standard GYS 234:2003 - Specification for the Safety of Toys and Playthings.

Toys that fail to meet safety standards can pose serious risks, including choking, poisoning, or injuries from sharp edges and small detachable parts.

The GYS 234 standard addresses these hazards, providing comprehensive safety requirements for toys intended for children up to the age of fourteen (14).

This standard provides for toys to undergo rigorous testing for mechanical and toxicological hazards, including risks from moving parts, toxic materials, and improper labelling. During this festive period, GNBS is actively monitoring toys for sale, safeguarding children from these harms while they play.

Manufacturers, importers, and retailers are obligated to provide safe toys to prevent avoidable tragedies.

Additionally, compliance with the GYS 912 StandardforLabelling also ensures that clear

warnings and instructions are included on the labelling of toys.

These labelling information help parents select age-appropriate and hazard-free toys.

I m p o r t a n t l y, w h i l e GNBS monitors toy safety, parents play an essential role in ensuring their children’s safety. Here are some practical tips: · Check Labels: Ensure toys are labelled for the appropriate age group and include safety instructions. · Inspect for Durability: Avoid toys which can be easily broken exposing sharp edges and loose parts. · Follow Instructions: Adhere to care and maintenance guidelines to keep toys safe for use. · Beware of Choking Hazards: Ensure toys for babies and toddlers do not include small, easily detachable parts. · Confirm Certification Marks: Look for reputable safety certification marks like UL or CE which indicate that the products were laboratory tested.

GNBS’s enforcement of the requirements of the GYS 234:2003 standard this holiday season aims to keep children safe while they enjoy their festive gifts.

The Bureau implores parents to purchase toys which are safe for use.

Making this good purchasing decision goes a far way to ensure that the Christmas holidays are both joyful and safe.

This Christmas, let’s make safety the first gift we give.

For further information on this subject, call the G N B S o n Te l e p h o n e number: 219-0064-66 or visit the Bureau’s website: www.gnbsgy.org

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Guyanese attorney is new Deputy DPP...

From page 19 small town of New Amsterdam, Berbice, Region Six. He is a member of the International Bar Association, an Ajunct Professor of the Zicklin School of Business, Baruch College, New York and President of VMW Law P.C., a US Law Firm that has been operating for 15 years.

“Dr. Williams began his professional life as a schoolteacher after completing training at Cyril Potter College of Education in Guyana. He then pursued undergraduate studies at the University of Guyana before migrating to the United States.

“Following these achievements, he attained a Master of Laws in global antitrust law and economics from George Mason University’s Antonin Scalia Law School and Master of Laws in intellectual property and media law from the Cardozo School of Law. “He is also a graduate of the George Washington University Graduate School of Political Management where he attained a Master of Strategic Public Relations. This was followed by an MBA from TRIUM – a top ranked global program jointly administered by NYU Stern School of Business, London School of Economics and Political Science (LSE) and HEC (Paris).

He has capped off his academic achievements with a Doctorate in Business Administration from Baruch College” Biography excerpts taken from WeNews Guyana: https://wenews.gy/

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CONSUMER CONCERNS:

BRIBERY AND OTHER FORMS OF CORRUPTION MUST BE ERADICATED FROM

GUYANESE SOCIETY PAT DIAL From time to time various Ministers as Heads of Government Departments and officials of the Private Sector have spoken out against corruption which exists in both Governmental and Private Sector.

Full and concerted action against corruption was however only seriously initiated when Minister of Parliamentary Affairs and Governance, Hon Gail Teixeira held an antiCorruption workshop in partnership with the Private Sector at the end of last November.

Both Government and Private Sector expressed their intention and aspiration to eradicate corruption.

They pointed out the effects of corruption, all of which were negative, which included the slowing up of governmental and private sector activity leading to inefficiency and the increase in costs of all business transactions and that in all of this, national development was retarded. It weakens the moral fibre of both parties to a corrupt transaction and this human degradation increases with the passing of time.

The governmental spokespersons stressed that eradicating the Culture of Corruption which they link with Human Rights, would result in a clean society.

The Private Sector on the other hand, felt that the Court System was too dilatory and the Laws affecting Corruption need to be solidified and modernized and that the punitive aspects of the Law need to be greatly strengthened; if these reforms were effectuated, corrupt persons would cease to assume that they could escape the net of the Law with impunity.

The words of Minister Gail Texeira postulates the rejection of the Culture of Corruption: “What has to be developed consciously is a new culture that is not based on the view held by some that you have to grease someone’s hand to get something built where the systems work transparently and fairly and people trust them to do so.

We need to have a new culture where people feel if

they want a passport or put in a tender for a contract, they d o n ’t h a v e t o g r e a s e anybody’s palm. . . And this requires, at all levels of the Public Service and Private Sector, a zero tolerance for persons offering or asking for bribes”.

Ramesh Dookhoo, speaking on behalf of the Private Sector, called for the quickening of the Court procedures and the consolidation of the anticorruption legislation, thus making them more effective: “You need to take all these pieces of legislation and have a holistic antiCorruption Legislation in Guyana, which makes it easier for the Police, the Regulators and everybody else to take you to Court and be successful.

The penalties would have to be harsh, so that you wouldn’t even want to risk it”.

Though the exorcising bribery and other forms of corruption from Guyanese Society may appear to be a very difficult uphill task, in reality, it is not because until the beginning of the 1960’s bribery and corruption were unknown in the Public Service and the Private Sector and this Culture of cleanliness and transparency in business dealings was the norm.

The induction of Corruption was strangely done by the postIndependence Guyanese State which was undemocratic.

When Democracy was restored in the 1990’s , the successor Democratic state was unable to focus its full attention on the elimination of corruption which had taken fairly deep roots and continued.

The present serious effort being initiated by the Ministry of Parliamentary Affairs and Governance, the Private Sector and various NGOs to restore Guyana to its former Corruption-free status will be met with success since the majority of Guyanese people and institutions wish to exorcise bribery and corruption from their Society.

To quicken the pace of permanently eliminating bribery and corruption, we would suggest the (Continued on page 31)

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BRIBERY AND OTHER FORMS OF CORRUPTION MUST BE ERADICATED...

From page 25 following: In addition to the great efforts made by State and Private Sector, we would suggest that in all

training programs which are mounted by both State and Private Sector, a 45-minute session on corruption should be included; the Heads of

Government Departments should keep greater surveillance over their offices and should be willing to enquire into any

complaint or suspicion of corruption; and at the primary school level, some reading matter nurturing honesty and anti-corruption

should be included. In the days of the British Empire, the Royal Readers, which were used in primary schools, promoted

patriotism, honesty and anticorruption with much success and likewise, this culture could be revived today.

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From page 18 means Guyana is covering the costs of projects that have not yet started production.

Each month, future development expenses are added to Exxon’s costrecovery list.

Guyanese in the dark on US billions being recovered by ExxonMobil- AFC …calls for release of cost recovery statements As the Government of Guyana (GoG) continues to face heavy criticisms for the blackout of information on the use of the country’s oil and gas revenue, the Alliance For Change (AFC) has pointed to the lack of transparency in the billions of US-dollars being recovered by ExxonMobil and partners.

Former Executive D i r e c t o r o f t h e Environmental Protection Agency (EPA), Dr. Vincent Adams on Friday during the p a r t y ’s w e e k l y p r e s s conference flagged the issue, calling for the cost recovery statements being prepared and handed over to the GoG,

by Exxon, to be made public.

In highlighting the importance of this information, the Environmental and Petroleum Engineer reminded that a whopping 75% each month is deducted by the oil companies towards cost. Be that as it may, he argued that the country is clueless as to what exactly its oil is being used to fund.

“We do not see a breakdown in those numbers. We are not even getting in the audit as to w h a t ’s c o m i n g o u t f o r o p e r a t i o n s a n d w h a t ’s coming out for capital,” Dr. Adams argued.

Even in the case of a house mortgage, he said a schedule is provided with how the money is paid off. To this end, the former EPA boss noted that while it is public knowledge that the Opposition has had difficulty in securing answers and gaining cooperation from the government, especially with regard to the oil and gas industry in the National Assembly, efforts must continue in the House for transparency in this regard.

“I would suggest that we continue to persist in Parliament and ask for this kind of information to be released, if not in Parliament to the public,” he noted.

Annex ‘C’ of the 2016

Former Executive Director of the Environmental Protection Agency (EPA), Dr. Vincent Adams Petroleum Agreement between the GoG and ExxonMobil makes it explicit that the company is required each quarter to prepare a cost recovery statement. It goes on to highlight that the statement must include: (a) recoverable contract costs carried forward from the previous calendar quarter, if any; (b) recoverable contract costs for the calendar quarter in question; (c) total recoverable contract costs; (d) quantity and value of cost oil taken and disposed of by the contractor for the calendar quarter in question; (e) contract costs recovered for the calendar quarter in question and (f) total cumulative amount of contract costs to be carried forward into the next calendar quarter.

The cost recovery statement for each quarter is required to be submitted no later than 30 days after the end of each quarter.

Dr. Adams told Kaieteur News in response to a question that these statements must be made public for the transparent management of the country’s resources. He was keen to point out that the audit process does not delve into all the expenses but a mere sample of costs incurred by Exxon.

The statements made by the former EPA Head comes in light of the recent disclosure by Vice President Bharrat Jagdeo that although Guyana is paying for the assets being used in the offshore production of oil, the country is not a partowner of the assets.

Cultural tours The VP at his Thursday press conference explained, “It’s a simple thing. You’re not part owner of any company. You don’t own these assets. So, ExxonMobil puts in the investment. They create a company; the company has these assets. We are entitled

to receive in the future, 50%, once everything is paid off…you are entitled to collect 50% of future profits and they get 50% and then 2% royalty on the gross…that’s your entitlement to collect.”

On the other hand, Jagdeo said that if the company was to dissolve and sell the assets, Guyana may then be entitled to 50% of the assets. “Now if you have a dissolution of the company and they sell off the assets, I guess we are entitled to 50% of the assets too in the situation where you dissolve the company so I hope that clarifies your question,” he noted.

Wednesday Public servants get 10% pay hike for 2024, another 8% for 2025 The Government of Guyana (GoG) and the Guyana Public Service Union (GPSU) on Tuesday, signed a two-year agreement that will see public servants receiving a 10% across-theboard salary increase retroactively in 2024, with an additional 8% increase to take effect from January 1, 2025.

The announcement was made by President Irfaan Ali during his address at the

Guyana Police Force’s annual Christmas breakfast.

A joint statement issued subsequently by the Government and Union revealed that the 10% increase in 2024 will result in a 35% cumulative salary increase for public servants over the four-year period from 2021 to 2024. The additional 8% increase in 2025 will raise the cumulative salary increase to 46% over five years, from 2021 to 2025.

The agreement was signed by Soyinka Grogan, Permanent Secretary of the Ministry of Public Service, on behalf of the government, and Dawn Gardener, 1st Vice President of GPSU, on behalf of the union.

Meanwhile, President Ali emphasized that the cumulative increase could be even higher, stating, “The Government of Guyana understands that prosperity must come at every level and understanding that the public service intervention must be made… we will make the necessary adjustment to always have that parity in the system.”

In addition to the salary increases, the government has introduced several other measures aimed at improving the compensation and benefits for public servants. With effect from 1 July 2024, public servants on General Scale (GS) 1-6 with a minimum of four years of service within their current scale will be moved to the midpoint of that scale, leading to increases of up to 13% for eligible employees.

Public servants with at least eight years of service in their current scale will be moved to the maximum of the scale, resulting in increases of up to 26%.

Furthermore, public servants on GS:7-8 who have

Sunday December 15, 2024

at least four years of service in their current scale will receive an additional monthly amount equivalent to the nominal difference between the minimum and midpoint of GS:6, resulting in an increase of up to 11%.

Starting January 1, 2025, public servants who have earned additional qualifications relevant to their duties will receive monthly qualification allowances: $15,000 for holders of an Association of Chartered Certified Accountants (ACCA) qualification, $22,000 for holders of a Master’s degree, and $32,000 for holders of a Doctoral degree.

P r e s i d e n t A l i u n d e r s c o r ed th at th es e initiatives are in keeping w i t h t h e g o v e r n m e n t ’s commitment to incentivize education and training, and the development of the human capital.

In addition to qualification allowances, several other adjustments were announced and will take effect from January 1, 2025. These include a $5,000 annual increase in the uniform allowance for health workers, a $35,000 monthly housing allowance for public servants on secondment to hinterland locations, and an $8,000 monthly station allowance for those serving in riverine and inland areas.

Public servants will also receive a 50% increase in risk allowances, along with a 104% increase in motor car and travel allowances.

The government is also introducing 100 duty-free concessions per annum for nursing staff, with priority given to those with the longest years of service and those who have never previously benefited.

A d d i t i o n a l l y, 1 0 0 scholarships will be awarded

The signed agreement between the Government of Guyana and the Guyana Public Service Union

annually to GPSU members f o r u n d e rg r a d u a t e a n d postgraduate studies at the University of Guyana or through the Guyana Online Academy of Learning (GOAL).

Senior Minister in the Office of the President with Responsibility for Finance and Public Service Dr. Ashni Singh, oversaw the discussions on behalf of the government.

Guyana cannot seize and sell its own assets to pay for an oil spill - Dr. Adams The assets being paid for

by Guyana through the cost recovery mechanism outlined in the 2016 Petroleum Agreement with ExxonMobil cannot be sold by the company to handle expenses related to an oil spill in the Stabroek Block.

This was recently explained by former Executive Director of the Environmental Protection Agency (EPA), Dr. Vincent Adams, during an Alliance For Change (AFC) press conference.

In opening remarks, Dr. Adams, an Environmental and Petroleum Engineer argued that the assets are part owned by Guyana, since the country is repaying the investments.

His comments came on the heels of an explanation provided by Vice President, Bharrat Jagdeo that Exxon can sell the Floating Production Storage and Offloading vessels (FPSOs) to handle costs related to an oil spill.

To this end, Dr. Adams said, “What he used to be saying is that we can seize assets to pay for an oil spill.

We explained to him you cannot seize your own assets because those are being paid for through cost oil, so we thought that had gone away and apparently he had brought it up again sometime and the reporter ask him it doesn’t make any sense that you are gonna sell your own assets.”

He noted that the AFC as well as the People’s National Congress Reform (PNC/R) had advocated for an unlimited parent company guarantee to dissolve the “foolish, nonsense” that is being purported by the Vice President that the country would sell its own assets to respond to such an event.

Dr. Adams argued, “He need to go read the (oil) (Continued on page 37)

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Sunday December 15, 2024

From page 36 contract. They have got to turn over all of those assets to us, free of charge and now he talking well we would freeze the assets and sell it. It’s the stupidest thing I have ever heard.”

The former EPA boss further noted that ExxonMobil had agreed to an unlimited parent company guarantee however this provision was reversed by the present administration.

Consequently, Dr. Adams said the oil company is now reluctant to provide this coverage.

“Exxon sees that this government is reckless and spineless and weak and they are taking advantage of them,” Dr. Adams stated.

Assets and the 2016 PSA Article 20 of the Production Sharing Agreement (PSA) specify terms related to ‘Rights to Assets’ state that upon expiry or termination of the Agreement, the Contractor shall deliver to the Minister, free of charge, in good order and condition, (fair wear and tear except) all installations, works, pipelines, pumps, casings, tubings, engines and other equipment, machinery or assets of a fixed or permanent nature constructed, used or employed by the Contractor or the Operator in the Contract Area.

It goes on to state that this also applies to any fixed assets relating to Petroleum Operations outside the Contract Area and movable assets owned by the Contractor or Operator and used or employed in connection with Petroleum Operations and located in Guyana for which costs have been fully recovered.

Be that as it may, Vice President Jagdeo told reporters that although Guyana is paying for the assets being used in the offshore production of oil in the Stabroek Block, this does not make the country a part owner of the assets. This therefore means that in the event that an oil spill occurs as a result of the activities in the resource rich offshore acreage, ExxonMobil will be free to sell the assets to respond to such an event.

The VP explained, “It’s a simple thing. You’re not part owner of any company. You don’t own these assets. So, ExxonMobil puts in the investment. They create a company; the company has these assets. We are entitled

to receive in the future, 50%, once everything is paid off…you are entitled to collect 50% of future profits and they get 50% and then 2% royalty on the gross…that’s your entitlement to collect.”

On the other hand, Jagdeo said that if the company was to dissolve and sell the assets, Guyana may then be entitled to 50% of the assets. “Now if you have a dissolution of the company and they sell off the assets, I guess we are entitled to 50% of the assets too in the situation where you dissolve the company so I hope that clarifies your question,” he noted.

Thursday Guyana key to Exxon’s future plans —as company sets target to boost oil production here to 1.7M barrel per day by 2030 ExxonMobil on Wednesday said its annual project spending will rise to between US$28 billion and US$33 billion between 2026 and 2030 as it looks to boost its oil and gas output by 18%, with Guyana playing a key role in this endeavour.

In a statement on Wednesday, ExxonMobil’s CEO Darren Woods said the company continues to strengthen its Upstream portfolio of advantaged assets that offer lower cost of supply and higher returns.

He said by 2030, at a 2024dollar real Brent price of US$65 per barrel, a real Henry Hub price of US$3 per mmbtu, and a real TTF price

of US$6.50 per mmbtu, the company plans to deliver an additional US$9 billion in Upstream annual earnings potential – more than 50% higher than in 2024.

Woods noted that with the Pioneer acquisition, the company reached its target of having more than 50% of its total Upstream production from advantaged assets (Permian, Guyana, and LNG), three years earlier than planned. By 2030, more than 60% of the company’s production is expected to come from these advantaged assets, which are expected to grow by an additional 1.2 million oil-equivalent barrels per day (Moebd) during that period. Total Upstream production is expected to reach 5.4 Moebd by 2030, even as the company plans to lower its operated Upstream emissions intensity 40-50% versus 2016.

“Following its acquisition and integration of Pioneer, ExxonMobil expects to achieve more than US$3 billion in annual synergies, a more than 50% increase from prior guidance,” Woods said. He said the company now has t h e l a rg e s t c o n t i g u o u s acreage position in the Permian Basin with double the number of low-cost net drilling locations versus the next closest competitor. The company is applying its technology advantage to increase capital efficiency and resource recovery and expects to roughly double production in the Permian Basin to approximately 2.3 Moebd by 2030.

ExxonMobil also announced plans for two additional

developments in Guyana, Hammerhead and Longtail, bringing the total number of developments to eight by 2030. Total production capacity in Guyana, on an investment basis, is expected to reach 1.7 million barrels per day with gross production growing to 1.3 million barrels per day by 2030.

According to a Reuters article, the new targets by the company come as Exxon is riding high. Its Guyana operations are generating huge profits and U.S. shale business is on track to double oil production this year through its acquisition of Pioneer. In LNG, it is a mixed bag with setbacks in its U.S. and Mozambique projects Woods said the increased project spending is expected “to generate returns of more than 30% over the life of the investments.”

Exxon aims to more than triple its production in the Permian, the top U.S. shale field, to 2.3 million barrels per day (bpd) by 2030 and pump 1.3 million bpd from its lucrative Guyana operations. Overall oil and gas output should hit 5.4 million bpd, up about 18% from roughly 4.58 million bpd currently.

The company’s shares were down a fraction in premarket trading to US$112.30 with many of the projects and targets already known.

Exxon said it will add two projects in Guyana by 2030, in line with a previous statement of 7 to 10 total, while its LNG target remains 40 million metric tons per annum.

The new targets aim to The Stabroek Block

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ExxonMobil CEO, Darren Woods assure shareholders that returns can be sustained through oil market price swings. Global benchmark Brent crude is expected to drop to about US$75 per barrel next year from US$81 this year, squeezing oil company profits. But Exxon’s 12.7% year-to-date share gain is well above the s e c t o r ’s a b o u t 8 . 4 % appreciation as measured by energy mutual fund. Its share-price increase contrasts with from doubledigit percentage declines in shares in ConocoPhillips and Occidental Petroleum this year. (Reuters) Exxon’s upstream strategy relies on Guyana’s cheap, high-quality oil returns G u y a n a ’s S t a b r o e k Block is one “advantaged asset” in ExxonMobil’s upstream portfolio that offers the American oil giant, lower cost of supply and higher returns.

On Wednesday, Exxon unveiled its Corporate Plan to 2030, emphasizing strategic investments in key regions, including Guyana, to bolster shareholder value and strengthen its upstream portfolio. The company aims to deliver an additional US$20 billion in earnings and US$30 billion in cash flow by leveraging competitively advantaged opportunities and disciplined cost management.

The plan underscores ExxonMobil’s focus on upstream production growth from advantaged assets like Guyana, the Permian Basin and liquefied natural gas (LNG) projects. “By 2030, more than 60% of the company’s production is expected to come from these advantaged assets, which are expected to grow by an additional 1.2 million oil-

equivalent barrels per day (Moebd) during that period.

Total Upstream production is expected to reach 5.4 Moebd by 2030, even as the company plans to lower its operated upstream emissions intensity 40-50% versus 2016,” Exxon said.

In Guyana, ExxonMobil plans to add two more oil developments in the Stabroek Block, Hammerhead and Longtail, bringing the total number of sanctioned projects in the country to eight by 2030.

Exxon is the operator of the Stabroek Block which covers an area of 6.6 million acres is estimated to hold 11.6 billion barrels of oil. To date, Exxon has obtained approval from the Government of Guyana for six development projects in the Stabroek Block – Liza Phase One, Liza Phase Two, Payara, Yellowtail, Uaru and Whiptail. The first three projects are already producing oil at a daily estimated rate of 640,000 barrels per day (bpd). With the addition of Hammerhead and Longtail, Exxon said this will expand gross production in Guyana to approximately 1.3 million barrels per day, with total production capacity expected to reach 1.7 million barrels per day on an investment basis.

“ExxonMobil continues to strengthen its upstream portfolio of advantaged assets that offer lower cost of supply and higher returns.

By 2030, at a 2024 dollar real Brent price of US$65 per barrel, a real Henry Hub price of US$3 per mmbtu, and a real TTF price of US$6.50 per mmbtu, the company plans to deliver an additional US$9 billion in Upstream annual earnings potential – more than 50% higher than in 2024,” it was stated. This publication recently reported that Vice President Bharrat Jagdeo has argued that Guyana’s lowcost production and quality crude position the country advantageously, allowing it to derive long-term benefits from its oil reserves. Jagdeo was at the time responding to questions in relation to a potential oil glut causing a decline in oil prices – thereby affecting Guyana.

Reflecting on Guyana’s strategic advantage, Jagdeo emphasized that the country’s light, sweet crude oil—widely regarded for its quality—combined with low production costs of about (Continued on page 38)

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From page 37 US$40 per barrel, puts it in a stronger position than many other oil-producing nations.

“The good thing is that our crude is light, sweet crude.

It’s a good quality crude, and also our breakeven cost is below many countries in the world. So if you had to fall off the production chart on the basis of quality of crude and breakeven cost, many other countries will fall off before we fall off the chart,” he asserted. He underscored that Guyana’s production is low-cost compared to other countries, making it less vulnerable in scenarios where only the most economical producers survive a downturn. Jagdeo said, “So before those prices fall below a point where we can’t produce oil anymore, lots of other countries, should there be a reduction in global demand, would fall off the production chart ahead of us.”

Friday Jagdeo: ‘No windfall profits for Guyana from higher oil prices’ …says excess profits going towards cost recovery Chief policy maker in the oil and gas industry Vice President Bharrat Jagdeo said that there is no excess profit to gain from increased oil prices as he dismissed calls for the government to institute windfall taxes from ExxonMobil.

At his weekly press conference, held at Freedom House on Robb Street, he made this comment in response to a question posed by this publication in relation to the government not instituting a windfall taxes mechanism despite current oil prices being higher than the average price per barrel, which could have given each of the 300,000 established households here $2M per month. “What kind of economics here you are bringing to me…there’s no excess profit and everything else.”

Jagdeo explained that in the industry projections are made and based on that projection, prices may be higher. However, even with these higher prices, the cost recovery affixed by the contract is 75%. “It means you’re amortizing the expenses faster so you can get to a higher share of the profit. You’re just amortizing the expenses faster and that’s

GRA Commissioner General, Godfrey Statia what’s happening. So if it took you 10 years to amortize the investment at $50, and just to give an example, the price for oil, it may take you 7 years to do it at $75 and that means thereafter you were entitled to 52%, crudely putting it, of their revenue. It’s a simple method,” he reasoned.

On November 29, this publication reported that Jagdeo maintained that his government’s position is that windfall taxes will not be instituted at this time.

Windfall tax is a tax levied by governments against certain industries when economic conditions allow those industries to experience above average or projected profits. Jagdeo, in response to a question posed

by Kaieteur News on why the government is not implementing windfall taxes since it does not breach the existing Production Sharing Agreement (PSA) with ExxonMobil and its partners, said, “I have dealt with windfall profits in the past, and why we believe that windfall taxation should not be pursued at this time. I dealt with it in the past, if you go back and read.”

In May 2022, Kaieteur News questioned the Vice President on the issue and at that time he admitted that citizens in Canada, and the United States had forced their governments to increase their royalties charged to oil operators. In the United Kingdom, the government increased the one-off tax slapped on oil companies. At that time, this publication reported extensively on the changes in the fiscal regimes for the oil operators in those countries.

Canada had moved its royalty charged between five and 40%; the US in December of 2021, raised its royalty rate higher than the 18.75% it had been receiving while the UK slapped a oneoff 25 per cent tax on the oil companies there. Jagdeo had told the media that the

windfall tax that some countries are exploring only came after intense pressure from their populations.

However, he explained why the institution of the tax could not be replicated in Guyana. “We are bound by a PSA (Production Sharing Agreement) with very specific terms on the taxation side.”

Subscription packages Meanwhile, only r e c e n t l y Tr i n i d a d a n d To b a g o e n e r g y e x p e r t Anthony Paul said, “Since all contracts must abide by national law and since such an instrument does not violate existing contracts, Windfall Profits Taxes provide a simple and fair mechanism to ensure that countries get their just dues.”

Paul, an international consultant, in a recent article, made the point that oil companies do not produce oil, nature does. The role of the oil companies is simply to extract the resource. He explained, “Nature blesses countries with it. Once the oil company removes it, that asset is gone forever. For this reason, countries should realise that they are not just innocent bystanders to the business venture of oil and gas.”

In fact, the Energy Expert described the role of countries as “active contributors,” providing their natural heritage as an asset in the business. This, he noted, makes countries coinvestors with a contractor, so that both can make money.

“An investor who brings money wants to make profit in proportion to the amount it invests. Similarly, countries should make a return on the investment of their asset, proportional to the value of that asset,” the International Consultant pointed out.

He was keen to note that Stabilisation clauses in contracts are based on an agreed economic model which contemplates a rate of return to the contractor, based on a projected price or

pricing formula for the commodity on an agreed market. However, Paul explained that when the price of the commodity is far higher than the projected price in the economic model, the extra profit is referred to as a windfall. To this end, he noted, “Since the market conditions are generally beyond the control of the producer, it is the commodity itself that creates the higher revenue, not any action of the contractor.”

It has therefore become customary in jurisdictions around the world, including developed countries, to introduce a Windfall Profits Tax to ensure that the owner of the resource gets a bigger share of the profit, in line with the disproportionate contribution the resource makes to the increased revenue, the Energy Expert said.

GRA flags remigrant vehicle scam …says persons acting as fronts for auto dealers, others to import high-end vehicles The Guyana Revenue Authority (GRA) has raised alarm over the abuse of the duty-free system in place for re-migrants to import vehicles, noting that in some cases the persons who apply for the concessions are working as fronts for auto dealers.

This disclosure comes on the heels of a ruling by the Chief Justice Roxane George-Wiltshire that the revenue body acted unlawfully by questioning the source of funds used by remigrant Reaz Manjoor to purchase a vehicle – and ordered the release of his Toyota Landcruiser.

Sunday December 15, 2024

In a press statement, on Thursday, GRA said, “While GRA is respectful of and will abide with the ruling of the Honourable Chief Justice, the Authority wishes to clarify its actions in keeping with the intent of the measures surrounding imports of high-end luxury vehicles by some remigrants, and the abuse to the concession by some unscrupulous persons who may have been granted such a status by the Ministry of Foreign Affairs.”

Firstly, it was explained that re-migrants are allowed a vehicle for their own use, subject to various conditions stipulated in the law. Under current policy, re-migrants are allowed to import a vehicle for personal use at significantly reduced excise tax rates—10%, 20%, or 30% depending on the engine capacity. In contrast, a non-remigrant importing a high-end vehicle could face over $44 million in taxes, compared to a maximum of $6 million for a remigrant.

This significant disparity has created opportunities for exploitation.

GRA said that “unscrupulous individuals”, including auto dealers, are enticing potential remigrants to apply for the concession in exchange for monetary rewards. These remigrants, often with minimal financial means or ties to Guyana, are encouraged to secure high-end vehicles before leaving the country.

Alarmingly, some applicants lack basic qualifications such as a driver’s licence, a bank account, or a history of filing tax returns in their country of origin.

The Authority said that, “When their (re-migrants) documents are submitted and

analysed, they often show little or no funds for years, but prior to or after the receipt of the approval, large and sudden cash injections into their just opened bank account, local or foreign, and from unknown persons and benefactors, who are nowhere to be found or refuse collaboration, of the deposit (as was in this case), all with the intention of facilitating the purchase of high-end vehicles. The vehicles are then utilized or purchased by ineligible persons, through the process of powers of Attorney, or possession, resulting in tens of millions revenue losses to the State.”

Further, it was disclosed that the practice is becoming so prevalent that GRA has seen instances where employees of treaty-exempt organizations and public servants are implicated in these schemes. In response, the Authority has implemented stricter measures, including requiring applicants to provide proof of the source of funds used for vehicle purchases; this is called the “he who asserts must prove” principle.

Notably, this is in line with Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws, which mandate rigorous compliance and information sharing with several jurisdictions.

In a plea to the public, the GRA urged citizens to report any information on system abuses via its confidential hotline 227-6060 or extensions 3201, 3204, 3205, 3206, 3211, 3212, or 3408. Informants may be eligible for rewards under (Continued on page 39)

The Land Cruiser that the court ordered to be released.

Sunday December 15, 2024

From page 38 the provisions of the Customs Act. This crackdown aims to preserve the integrity of the duty-free vehicle facility, ensuring it benefits genuine re-migrants while safeguarding state revenue.

Moreover, the GRA has announced its intention to appeal the recent court ruling, citing the severe tax implications and its obligations under various legislative acts. It also emphasized that individuals found guilty of abusing the system or aiding others in fraudulent activities could face fines and imprisonment under the Customs Act and other relevant laws.

This publication had reported that Manjoor returned to Guyana in August 2023 after spending over 10 years in the United States. Seeking new opportunities in his home country, he applied to the Ministry of Foreign Affairs, where Minister Hugh Todd granted him remigrant status on 23rd August 2023.

Minister Todd had informed Mr. Godfrey Statia, the head of the Guyana Revenue Authority, of this decision.

The Chief Justice quashed the GRA’s demand for further financial information and ordered the immediate release of M a n j o o r ’s To y o t a Landcruiser, which had been held at the port since January 2024. This is according to a press release from attorney Siand Dhurjon.

Saturday Bedridden mother and daughter die in house fire A 75-year-old mother and her 44-year-old daughter died in a fire at Lot 3834 Plantation Westminster, We s t B a n k D e m e r a r a (WBD) on Friday.

Dead is Felis Smith and her daughter Ventina Smith.

According to Police, the fire occurred at about 05:00h while both Felis and Ventina were asleep.

Felis’ 21-year-old daughter Chandine Sookraj told police that she also lived with her mother, sister, 34year-old brother Vidnauth Sookraj and her four-yearold daughter Veleta Sookraj.

S o o k r a j t o l d investigators that her mother who was bedridden and her sister occupied the last bedroom in the north-eastern corner of the house while her

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The aftermath of the fire that claimed the lives of 75-year-old Felis Smith and 44-year-old Ventina Smith. (GPF)

brother usually sleeps in the living room. She and her young daughter would occupy the remaining bedroom.

“At about 21:30 hrs last night, Chandine said she retired to bed with her daughter, leaving everything intact,” Police said in a press release.

The 21-year-old woman reported that she was awaken by heat coming from the bedroom occupied by her mother and sister. Upon investigation, she saw that part of the bedroom was engulfed in flames.

The young mother said she got hold of her daughter and ran to the yard through the southern main door where she alerted neighbours who went to her assistance and also contacted the Guyana Fire Service (GFS).

Firefighters from the La Grange Fire Station #114 as well as the Eccles Fire Service #18 responded to the fire under the command of leading fireman Cameron.

Despite the efforts of the Fire Service the structure was completely destroyed.

Representatives of the Guyana Police Force (GPF) and GFS processed the scene where it was observed that

two bodies which were burnt beyond recognition and suspected to be that of the mother and daughter were seen lying motionless, facing upwards, in the north-eastern corner of the house.

The scene was documented and the charred remains of the two persons were taken to the West Demerara Regional Hospital where they were pronounced dead by a doctor.

The bodies are at the Ezekiel Funeral Home, awaiting a post-mortem examination.

Jordan flags lack of measures by Gov’t to cushion economy from low oil prices expected next year Former Minister of Finance, Winston Jordan has flagged the lack of measures by government to cushion the economy from the drop in oil prices predicted for next year.

During a recent programme, Jordan argued that the Natural Resource Fund (NRF) or the nation’s oil account is being drained with little resources left for savings in the event of unexpected circumstances.

This year, the

government passed an amendment to the NRF Law to increase the withdrawals that can be made from the Fund.

The new formula stipulates 100% withdrawal of the first US$1 billion received in 2023, 95% of the second US$1 billion, 90% of the third US$1 billion, 85% of the fourth US$1 billion, 50% of the fifth US$1 billion, and 10% of amounts over US$5 billion.

For his part, Jordan reasoned, “In developing countries there are many rainy days. You will need that fund…and I am afraid because the outlook for next year is for oil prices to go down and when you think about (President of the United States, Donald) Trump coming back inTrump is close to (Russia’s Head of State, Vladimir) Putin. (If) the war in Russia ends next year, let us say, Russia’s oil is now back on the market and you solve the issues with Iran. Iran’s oil is back on the market in full, rather than having to go around in dark corners and so on. What is the implication for prices and then what happens to Guyana?”

He pointed out that Guyana does not have adequate savings to help cushion the economy from a drastic drop in the price for the commodity.

The Government of Guyana (GoG) has withdrawn half of the country’s total earnings to date from oil and gas production.

According to the 2024 third quarter report for the Natural Resource Fund (NRF), published by the Bank of Guyana (BoG), the country has so far received a total of US$5.4B. Guyana began producing oil in December 2019 and received its first oil payment on March 11, 2020.

Following the passage of the NRF Act in 2021, the GoG in 2022 plugged US$607.6 million in oil money into the National Budget for first time. This was followed by another US$1B in budgetary support for the year 2023.

This year, the National Assembly has approved US$1,586,150,331 to be deducted from the Fund to s u p p o r t t h e c o u n t r y ’s national development priorities This means that by the e n d o f t h i s y e a r, t o t a l

withdrawals from the NRF will amount to close to US$3.2B. Lower oil prices In November, the World Bank in a report highlighted that an oil glut may lead to a substantial drop in global prices.

“Next year, the global oil supply is expected to exceed demand by an average of 1.2 million barrels per day,” the World Bank stated.

It was noted that the scale of this oversupply is difficult to overstate; these numbers have only been exceeded twice in history, in 1998 and 2020.

As a result, a barrel of oil could cost less than US$60 within the next six years.

According to Oilprice, t h e Wo r l d B a n k ’s Commodity Markets Outlook, warns that global oil supply is expected to surpass demand by an average of 1.2 million barrels per day by 2025, driven by factors including flatlined economic growth in China, rising electric vehicle sales, projected production bumps from non-OPEC+ nations, and persistent overproduction from OPEC+ members as well and increased natural gaspowered transportation.

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Sunday December 15, 2024

Christmas Surprise Christmas Crafts With Kids: Kiss-Mass Tree Centerpiece Materials* * Green & red holiday scrapbook paper * Toothpicks * Tape * Hershey's Kisses chocolates in Christmas Foil Colors Cut out triangle shapes from scrapbook paper.

Tape a toothpick on the back.

Insert toothpick into Hershey's Kisses candies.

Arrange on platter. b a k e r. “ D o y o u h a v e anything festive for our tree?” Daniel asked.

Mr. Peters chuckled and handed them candy canes wrapped in shiny ribbons.

“These should add some sweetness!”

Finally, they went to the town park, where they found pinecones scattered under the trees. Emily had an idea.

“We can roll these in glue and glitter to make them sparkle like ornaments!”

Back at home, their parents helped them decorate the tree with their new treasures. The painted stars shimmered, the candy canes added festive stripes, and the glittery pinecones looked like they had been kissed by frost.

As the family stood back to admire their creation, a soft jingling sound filled the room. They turned to see Santa Claus himself standing

I want to be Good I think it is only right That I must always try to be good, To say and do the correct thing, And behave as well as I could.

I will always try to be honest, In whatever I have to do, Not to take what belongs to others, And always speak what is true.

I will try to be always fair, Whenever I work or play, Always make sure I do not cheat, And be honest in every way.

Above all, I will not be selfish, Especially with those who have less than me; This will make me feel so good, As they become grateful to me.

by the fireplace, his eyes twinkling with delight.

“I heard about your special tree,” Santa said.

“And I must say, this is one of the most creative and beautiful trees I've ever seen!”Emily and Daniel beamed with pride. “It was a team effort,” said Emily.

Santa nodded. “You've reminded me that Christmas isn't just about decorations—it's about working together, being kind, and making the best of every situation.”

With that, Santa left behind a magical ornament that glowed like a tiny star.

“This is for your tree, to remind you of tonight,” he said before disappearing into the snowy night.

As Emily and Daniel snuggled into bed, they knew this Christmas would be one they'd never forget.

The end!

KIDS CHRISTMAS PUZZLES

In a cozy little town blanketed with soft, shimmering snow, siblings Emily and Daniel eagerly awaited Christmas. Their house sparkled with twinkling lights, and the smell of gingerbread cookies filled the air. Every year, the highlight of Christmas Eve was decorating their special family Christmas tree.

T h i s y e a r, h o w e v e r, something was different. The box of treasured ornaments they used every year was missing! “Oh no!” said Daniel, his face falling.

“What will we hang on the tree?”

E m i l y, a l w a y s t h e problem-solver, clasped her hands together. “Don't worry, Daniel. We'll find a way to make this the best Christmas tree ever!”

Together, they put on their boots, coats, and mittens and stepped out into the snowy evening, determined to create new decorations.

The first stop was their neighbor Mrs. Willow's house. She was an artist who painted beautiful pictures.

“Do you have anything we could use to decorate our Christmas tree?” Emily asked.

Mrs. Willow smiled and handed them small painted stars she had made from paper. “These will bring a little sparkle,” she said.

Next, Emily and Daniel visited Mr. Peters, the town

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Sunday December 15, 2024

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TEEN TIME Prepare for the Future by adopting Right Principles When the time comes for a teenager to leave school and go out into the wider world to start life as an adult citizen and worker, he would obviously be hoping that he will begin in the right way. He must therefore realise that he will need to think about this before moving forward. There are many people who feel that they can achieve success and happiness by means which are not honest and fair to others, even to the point of making them suffer. The unfortunate thing is that these people may appear for some time to be prospering in life, so much so that others are tempted to follow their example and likewise forget the principles they have been taught, and resort to their type of behaviour. But if you have the opportunity to check on these same people later, you will always find that they have reaped the same kind of reward that they have sown.

Treat people in a bad way, and it will come back to you when you least expect. Neglect your duty, be dishonest in your dealings with others, and you will eventually suffer the consequences, perhaps at the time when you can least afford it.

It is a fact that one of the laws of nature is that what goes around comes around, and this is just as true of our actions as the earth moving around the s u n . Whatever you do in this

This day won't come again I'll never see this day again, The seconds or the hours, Now's the time to take the time To stop and smell the flowers.

Today's the day to give smiles And some happiness away, And the sunshine you were saving For some dark and rainy day.

This day is truly priceless, God made this day so new, The good deed you do for another May just come back to you.

world will work to determine your future progress and happiness.

Sometimes we feel that doing good will not be observed, but you can never tell when this is noticed by others.

However, just knowing that you have done a right thing, especially when it shows no immediate benefit to you, can be reward enough, and moreover the reward will surely come. Whenever you are faced with a challenging

Uncle Roy is once again appealing to all teens to write to him about any problem you may be facing for which you need a solution.

He would also like you to contribute to this Page by submitting other material that he can include here. These include: 1. A poem, short story or bit of advice that you have written and would like to share with your fellow teens.

2. Any significant event that has happened, or any interesting item about what is going on in your community.

3. A commentary about where you live to acquaint others about it.

4. Any advice you would like to pass on to those like you which would serve to make them better, and be of benefit to our people.

As mentioned before, you can email me at: roypaul2002@yahoo.com

TRAIN TRACKS

situation remember that the way you react will determine what you will reap in the long run.

This must surely prompt you to ask yourself in any situation what is the right thing to do, and take the high road, not reacting but acting always according to what you have identified as right principles. Then you can rest assured that all will turn out right in the end.

I have so many thanks to give, I scarce can even start, For when I try to add them up, More pour forth from my heart.

I'll take what the Lord has given, Drawn from His grace so true, In gratitude for all I take, I'll give myself to You. So touch a heart, hold another's hand, Call that lonely friend, Share the love that you must have, For this day won't come again.

Solutions to last week’s GINGERBREAD MAZE

Use principles rather that your feelings as the guidelines of your life to ensure you are always on the right path to success and happiness.

Complete the railroad track The digits show the number that connects the entrance of track pieces in each row or column. There is a and exit pieces.

The finished track can’t unique solution that can be found without guessing. fork nor cross itself.

SUGURU

Kaieteur News

PAGE 42

Sunday December 15, 2024

P&P Insurance Brokers donates $2,000,000 to 10 organisations P

&P Insurance Brokers Limited, on Thursday afternoon, made its annual Christmas donations to 10 organizations.

The company has been donating to several organizations over the past 18 years to assist them in their hu manitarian relief work.

Each organisation received $200,000 making a total amount of $2 ,000,000.

In addition to the financial donation, P&P continued the practi ce where cleaning items were also given to each organisation.

Mr. Vikash Panday, Director of P&P Insurance Brokers, extended Christmas greetings to everyone.

I n r e s p o n s e ,

representatives of the v a r i o u s o rg a n i s a t i o n s thanked Mr. Panday and, P&P Insurance for their continued long-standing support an d generosity over the years a n d , reciprocated Mr. Panday’s good wishes for the holiday seas on.

Recipients flanked by Mr. Vikash Panday and Mrs. Ahilia Panday.

The organisations which benefitted from the donations are: Bless the Children Home Ptolemy Reid Rehab Centre, Uncle Eddie’s Home, Friends of the A r c h e r ’s H o m e , T h e Dharam Shala, Cheshire Homes Guyana, Hauraruni Girls Home, Bal Nivas Shelter, Joshua House Children Centre, Abraham’s Tent Inc.

Recipients and P&P Insurance officials take a photo following the presentations.

Kaieteur News

Sunday December 15, 2024

Photos from the Escapè Book Club’s 4th annual gift drive

Escapè Book Club

hosts 4th annual holiday gift drive

T

his year, the Escapè Book Club proudly hosted its 4th annual holiday gift drive, a cherished tradition aimed at spreading joy and warmth to children and families in need during the holiday season.

The event was a resounding success, with approximately 70 gifts purchased for boys and girls ages 2–14.

Escapè Founder, Sameerah MohamedFerouz, told The Waterfalls the dedicated club members poured their hearts into the initiative, with several taking the time to shop for thoughtful presents tailored to bring delight to the children.

The gift distribution took place over two days—Saturday, December

7th, and Sunday, December 8th.

On Saturday, club members visited the Dam located by Château Margot, a site they had also chosen for distribution during the previous year’s drive. Mohamed-Ferouz said returning to this familiar location was especially meaningful, as it allowed the group to reconnect with families and continue spreading holiday cheer.

“On Sunday, we extended the celebrations to the kids of Pigeon Island, where more children were greeted with excitement and gratitude as they received their gifts,” she said.

The Founder noted that the spirit of giving extended beyond the children to the adult women in the community, who were surprised with goodie bags

containing an assortment of makeup products, ranging from lipsticks, lipglosses, foundations, mascaras, and face palettes.

In addition to the gifts, the book club prepared special goodie bags for everyone that were filled with snacks, biscuits, candy, and treats. Ice cream was also distributed, adding a sweet and refreshing touch to the festivities.

Mohamed-Ferouz revealed that “At the end of the drive, we had extra gifts remaining. To ensure that these would continue to bring joy, we divided them amongst our members, who then distributed them to children in need within their own communities.

This thoughtful effort extended the Continued on page 50

PAGE 43

PAGE 44

Kaieteur News

Sunday December 15, 2024

Kaieteur News

Sunday December 15, 2024

PAGE 45

Papas Johns bold, unique flavours due to special imported toppings

A cosy and eye-catching dining area located on the second floor of Papa Johns’s Vlissengen Road and Garnett Street location.

Papa Johns’s General Manager, Melanie Benjamin

Papa Johns’ General Manager, Melanie Benjamin during a “special media tasting event” on Saturday, said the restaurant is importing its own pizza toppings to maintain its uniqueness.

The tasting event was held at its newly built Vlissingen Road and Garnett Street, Georgetown location.

In a brief interview, Kaieteur News asked the General Manager what it is doing to standout from among the other competitors in Guyana.

Benjamin responded, “I

to our restaurant where we create that pizza here (Georgetown location) for our customers,” John explained before speaking about the toppings.

“The toppings that we have here at Papa Johns are all imported toppings,” she said.

Apart from the unique ingredients, Papa John’s has a cosy and eye-catching ambience that tempts customers to dine-in rather than take away their orders.

The menu of f ers has a variety of signature pizzas along with mouth-watering

One of Papa Johns’ specialty pizzas would just say better Pizza, better ingredients.” Noting that the newest fast-food joint in Guyana is known for having unique and original ingredients, the newspaper asked Benjamin to expound a bit more on the pizza ingredients that make the brand standout.

The General Manager said the pizza’s dough is not prepared at the restaurant but at its dough production centre located at Chateau Margot, East Coast Demerara (ECD).

“That dough sits in a 33 to 40 degrees chiller for a few days and then its transferred

sides and desserts.

Eight specialty pizzas were available for tasting on Saturday including the Tuscan Six Cheese, comprising parmesan, Romano, asiago, fontina, provolone and mozzarella; BBQ chicken; spicy buf falo chicken; spicy chicken ranch; garden special; all meats; pepperoni and Hawaiian chicken BBQ. For the sides, the media had a chance to taste the brand’s chicken wings.

Chicken poppers, garlic knots, jalapeno bites and garlic parmesan breadsticks,

while there was chocolate chip cookie, chocolate chip brownie and cinnamon pullaparts for desserts.

Ms. Benjamin also told Kaieteur News that one of the new menu introductions to Guyana will also be its papadillas. “I know a lot of Guyanese are not familiar with the papadillas,” the General Manager said before recommending that Kaieteur News try its spicy chicken ranch, which she said is her favourite.

H o w e v e r, K a i e t e u r News’ reporter opted for the Hawaiian chicken BBQ.

“The flavours are popping!

Love that the crust is not too thick or too thin,” one reporter said. “I tried the BBQ. It does not taste like the regular BBQ sauce,” she added, as she described the burst of flavours. “The flavour is very bold, not just brushed on,” the reporter said.

Papa Johns is of f icially opening its doors on Monday, December 16, and Benjamin is inviting everyone to try the newest pizza in town.

“We also have to offer, the 16-inch pizza, our staf f at the back will create that for you … The creativity happens in

the kitchen with the amazing staf f we have in that kitchen.

They can create that excellent pizza for you,” Benjamin said. Restaurant Brands Holdings Inc. (RBH)- a local company, has acquired the exclusive franchise rights for Papa Johns in Guyana, Suriname, Curacao, and Aruba.

According to a press release, RBH said this strategic expansion highlights its ongoing mission to bring internationally-acclaimed dining brands to the region, of fering exceptional quality,

service, and experiences tailored to local tastes.

Papa Johns is a globally recognized pizza brand renowned for its commitment to “Better Ingredients, Better Pizza.”

Since its founding in 1984, Papa Johns has become a leader in the pizza industry, offering customers around the world delicious, high-quality pizzas and outstanding service. With a focus on innovation and community, Papa Johns continues to bring people together with its crave-worthy menu and warm, inviting atmosphere.

Kaieteur News

PAGE 46

Sunday December 15, 2024

Guyanese brand consultant and environmental advocate,

Dr. Davindra ‘Dave’ Lalltoo D

r. Davindra ‘Dave’ Lalltoo makes it a priority to engage in activities that promote relaxation and personal growth. His passion for adventure fuels his desire to discover new places, meet different people, and immerse himself in various cultures, enhancing his perspective on life.

Dr. Lalltoo was born on October 3, 1991, amidst the rough crossing of the Atlantic Ocean to the Essequibo River. His birth as a breech baby while aboard a boat navigating the turbulent waters, marked the beginning of a life shaped by resilience and a profound understanding of survival from the very start.

The challenging conditions of his early arrival underscored his journey, instilling a sense of strength and perseverance that would define his path forward.

As a result, this week’s ‘Special Person’ has led a successful personal and professional life and amassed several accolades in his various fields of work.

To date, Dr. Lalltoo’s professional career spans a range of impactful roles, each contributing to his expertise in business management, leadership, and environmental protection.

Since January 2017, he has served as a Brand Consultant at Guyana Premier Consultancy where he has led and executed brand-related projects, ensuring that brand

is a ‘Special Person’

Dr. Dave Lalltoo during his time at La Bagatelle Nursery School in Leguan for Mae’s Schools (Secondary), Employee Experience Manager/Marketing/ Administrative Manager for DemBake, Chairman for Miss World Guyana, and National Franchise Director for Miss Earth Guyana.

Dr. Dave Lalltoo (right) and Dr. Omesh Balmacoon, Recover Guyana’s First Vice President, along with SHOUT 2024 winners.

guidelines are consistently applied across all materials.

His work involves coordinating crossfunctional teams, aligning the company’s mission and values with its culture, and engaging employees as brand ambassadors.

Additionally, Dr. Lalltoo has made significant contributions to academia as a Senior Lecturer at Texila American University since 2022.

In addition to these roles, Dr. Lalltoo has demonstrated strong leadership in the nonprofit sector. As Founder/President of Recover Guyana since January 2020, he has successfully managed national projects, including SHOUT and the ENGAGE initiatives. His leadership has resulted in securing over GY$25 million in grants and training 1,000 youths across Guyana.

He also served as Chief Operations Officer for Ultra Care Medical Centre Inc., Director

FAMILY VALUES The environmental advocate has credited his ability to cope and manage several roles to the values his parents instilled during his most impressionable years. He revealed that he was raised on the island of Leguan in the Essequibo River, a small but vibrant community where he learned the true meaning of community and respect.

“My mother, a dedicated housewife, and father, a hardworking rice farmer, instilled in me the values of perseverance, responsibility, and the importance of family,” he said. Dr. Lalltoo has one sister.

Growing up in the close-knit rural community, Dr Lalltoo said

he witnessed first-hand, how a strong sense of community can shape individuals and contribute to their growth.

“The support and unity of the people of Leguan left a lasting impression on me. I’m forever grateful for the foundation it provided in shaping both my personal and professional journey,” he said. “This upbringing has deeply influenced my work, inspiring my commitment to helping others and fostering a sense of interconnectedness in everything I do.”

As a result of this exposure, Dr Lalltoo said he developed a deep understanding of the importance of collaboration, mutual support, and respect for others. “These values have shaped my approach to my professional life, where I continue to prioritize teamwork and community engagement.”

According to Dr Lalltoo, these experiences on the island also taught him the significance of resilience and adaptability, qualities he relies on in his work.

“The support of the people of Leguan, more so, via the Friends of Leguan Facebook group continues to instil in me a strong sense of responsibility, motivating me to contribute positively to society and to always consider the well-being of others in my professional decisions,” he revealed.

‘ACADEMIC THRUST’ Dr. Lalltoo’s educational journey began at Maryville Primary School in Leguan, where he received a solid foundation that shaped his early development. The school provided him with the essential academic and social skills, setting the stage for his future success.

He then continued his secondary education at Saraswati Vidya Niketan from July 2003 to September 2006, and then the Leguan Secondary School where he completed his Caribbean Secondary Education Certificate (CSEC).

Dr. Lalltoo’s academic journey continued as he sought to expand his expertise in the field of business.

From March 2009 to August 2010, he attended the Institute of Commercial Management, earning a Diploma in Business Management and Administration. His commitment to learning and advancing his career led him to completing his Bachelor’s Degree in Business Administration.

Pursuing a deeper understanding of management, Dr. Lalltoo then attended the

An official portrait of Dr. Dave Lalltoo University of Hertfordshire, where he earned a Master of Business Administration (MBA) in Management from March 2014 to February 2016. His desire for further growth continued and he completed a Master of Arts in International Relations during the COVID19 pandemic at the University of Hertfordshire from April 2020 to May 2021.

Driven by a passion for leadership and strategic development, Dr. Lalltoo further pursued academic excellence by completing a Doctorate in Business Administration (Management & Leadership) at the University of Hertfordshire, which he concluded in December 2023. Currently, he is working toward a second Doctorate in Business Administration (Oil & Gas Management) at Unicaf University, which he began in September 2022.

RECOVER GUYANA Dr. Lalltoo’s career has been deeply influenced by his commitment to environmental protection, a value that has shaped his work across multiple roles.

As Founder/President of Recover Guyana, a registered NGO, he has led national initiatives like SHOUT, the search for Guyana’s Youth Environmental Speaker 2023 and 2024, in collaboration with the Ministry of Education.

He explained that “These initiatives aim to raise awareness among youth about environmental issues and empower them to become advocates for sustainable practices.”

Dr. Lalltoo has also oversee the ENGAGE project, which will train 1,000 youths across Guyana on environmental Continued on page 49

Dr. Dave Lalltoo, President, Recover Guyana, executive members of Recover Guyana, Ms. Nafeeza Gafoor, Country Manager, Scotiabank and representatives of Scotiabank launch the Engage Project.

Sunday December 15, 2024

Kaieteur News

PAGE 47

Miss World Guyana 2024, Zalika Samuels, prepares for Miss World 2025 Miss World Guyana Zalika Samuels

R

egion 10’s Zalika Samuels who was crowned Miss World Guyana 2024 at a grand ceremony, last Sunday, at the Ramada Georgetown Princess Hotel is now preparing to represent Guyana at the Miss World 2025 competition.

Embracing the theme “ M a j e s t y, ” t h e e v e n t celebrated not just the contestants physical appearance, but their intelligence and commitment to social causes through the Beauty with a Purpose (BWAP) initiative.

According to the press release issued by Miss World Guyana Organisation, the evening was a blend of beauty, talent, and social impact, as five finalists from across the country competed fiercely for the coveted title.

Each contestant showcased their ‘Beauty with a Purpose’ projects, which are at the heart of the Miss World competition.

Zalika’s project, Read to Rise: Empowering Children Through Literacy, focuses on promoting literacy among underprivileged children by organizing book drives, reading programs, and mentorship initiatives. Her commitment to community development and education was a defining feature of her campaign.”

The other finalists also presented meaningful projects aimed at creating positive change.

Naheeryah Newland from Region 3 (Essequibo Islands-West Demerara)

introduced ‘Project Bloom’, an initiative focused on empowering youth through entrepreneurship and skills development to combat financial instability. Lieve Blanckaert, representing Region 4 (DemeraraMahaica), presented ‘Holistic Living for a Healthier Guyana’, which advocates for mental, physical, and emotional wellness through workshops and outreach. Rachel Mohabir from Region 6 (East Berbice-Corentyne) introduced ‘Give with Love’, a project to provide shelter, food, and education for orphaned children in Region 5, while Diana Lopez from Region 8 (PotaroSiparuni) showcased ‘Integrating Life Skills’ with STEM for differently-abled youth.

The press release said throughout the competition, Ms. Samuels stood out not only for her poise and beauty, but also for her passion and dedication to her cause.

She was awarded the Influencer Award, Talent Award, and Top Model Award, further solidifying her position as a strong representative of the Guyanese woman.

Other finalists also earned accolades, including Ms. Mohabir, who received the Sportswoman of the Year Award, and Ms. Lopez, who was honoured with the ‘Beauty with a Purpose Award’ for her work with differently-abled youth. Ms. Newland won the ‘Head-toHead Challenge Award’,

demonstrating her strong leadership and advocacy skills.

This year’s competition also marked a milestone for Miss World Guyana as it celebrated 10 years of the ‘Beauty with a Purpose’ initiative.

The event paid tribute to past winners and loyal sponsors who have supported the programme over the years. Rafieya Husain, Miss World Guyana 2014, was honoured for her impactful BWAP project ‘Shatter the Silence’, which earned her a Miss World BWAP Award and a Top 10 placement at Miss World.

In her address, Ms. Natasha Martindale, National Director of Miss World Guyana, reflected on the importance of the evening: “This year, under the theme of ‘Majesty,’ we honour the strength, purpose, confidence, and dignity that define every Guyanese woman. We celebrate not just beauty, but the profound impact we have made through the Beauty with a Purpose initiative—a testament to the power of compassion and commitment to making a difference.”

As Miss World Guyana 2024, Ms. Samuels now prepares for her international j o u r n e y, r e p r e s e n t i n g Guyana at Miss World 2025.

The competition is set to focus on the performing arts and will pay tribute to Lisa P u n c h ’s r e m a r k a b l e achievement on the 10th anniversary of her placement

From L-R: Second heiress Lieve Blanckaert, Miss World Guyana Zalika Samuels (seated) and first heiress, Naheeryah Newland

on the Miss World stage.

With applications for Miss World Guyana 2025 now open, the next generation of candidates will have the opportunity to embark on a life-changing journey of self-discovery, talent development, and social impact.

Looking to the future, Ms. Samuels embodies the ideals of empowerment and purpose that are at the heart of Miss World Guyana. Her victory marks the beginning of her mission to advocate for literacy and education, while continuing to make a positive impact on her community.

As she prepares to represent Guyana on the world stage, Ms. Samuel’s leadership, passion, and commitment to social causes will undoubtedly inspire the next generation of young women across the nation and beyond.

PAGE 48

Kaieteur News

Sunday December 15, 2024

Jagdeo hopeful oil spill legislation Cop, civilian arrested after two-vehicle accident involving police car will be tabled before year-end Vice President Bharrat Jagdeo remains hopeful that the final draft of Guyana’s oil spill legislation will be tabled in the National Assembly before the end of the year.

Jagdeo expressed optimism, despite telling reporters, on Thursday, at his weekly press conference, that the Attorney General’s Chambers has been “very delinquent” in completing the final draft of the legislation.

“I’ve been pressing them… they’ve been very delinquent at this but I’ve been pressing them to get this done, because we made certain commitments that we want this tabled before the end of the year,” Jagdeo said.

While providing updates on the oil and gas sector and plans for the new year, Jagdeo explained that the AG’s office has had some challenges. “So first of all, I’m expecting the AG’s department has had some issues.

They’re overloaded with getting the Oil Spill Legislation… the draft completed so I can table it in the National Assembly,” he said, noting that if the legislation is not passed before the end of this year, then it will definitely be passed early next year.

“Under the Petroleum Activities Act there are several regulations that are being drafted, have to be approved and those two hopefully will be approved by the National Assembly,” he told reporters. On December 2, this publication reported that Jagdeo told reporters that he is hopeful his government’s

A

Vice President Bharrat Jagdeo oil spill legislation will be tabled in Parliament by the end of the year.

Asked by Kaieteur News to give an update on the bill, which was scheduled to be tabled before the August recess but was not, Jagdeo said, “We are going through this… the technical agencies have given their views, we have sent it up back to the consultants.”

He explained that he is awaiting the final draft of the bill, which will have the stakeholders’ views included “and then we will have a discussion at the level of the cabinet and, hopefully, we will get it to the parliament before the end of the year. It is still my hope to table it before the end of the year.”

The Oil Spill Act is aimed at ensuring that the country is protected during the transportation of crude oil.

Jagdeo in the past had said that the legislation, once in place, will cover Guyana from “all sorts of liabilities”.

28-year-old Lance Corporal of the Guyana Police Force (GPF) and a 29year-old driver were arrested, Saturday morning, after being involved in a twovehicle accident on the Good Hope Railway Embankment Road, East Coast Demerara (ECD). Both the police vehicle and the car the civilian was driving were damaged. The duo was identified as Lance Corporal Jamal Thompson and Reinaldo O’Selmo. Police reported that the incident occurred at about 03:45h.

Investigations revealed that the police vehicle was proceeding east along the northern drive lane on the Good Hope Railway Embankment Road with the flashlights on, while motor car bearing registration number #PVV 6015 was proceeding out of the Good Hope Access Road.

“When it (car) reached the T-junction, the car made a right turn onto Good Hope Railway Embankment Road and into the path of the Police vehicle,” police said in the report.

Subsequently, the right front side of the police

The police vehicle that was involved in the accident (GPF) The car that was involved in the accident (GPF)

vehicle collided with the back of the car and both vehicles were damaged.

Police said that a Notice of

Intended Prosecution was served on both drivers, who are in custody assisting with the investigation.

President announces one-month bonus for Joint Services President Irfaan Ali on Saturday announced the annual one-month bonus for the ranks of the Joint Services.

The Commander-in-Chief of the Armed Forces made the announcement at the Guyana Defence Force’s Annual Christmas Lunch at Base Camp Seweyo, headquarters of the Reserve Militia, a statement by the Office of the President said.

During his remarks, President Ali reiterated that the nation’s gratitude for their service, commitment and dedication to the country.

“We are thankful for your service, your sacrifice and your commitment in continuous oath of defending our homeland and keeping Guyana safe. Today, we applaud you and ask you to applaud yourself,” the President said.

He stressed that the Government will

spare no opportunity to enhance the livelihoods and welfare of the soldiers.

President Ali also said that Camp Seweyo will benefit from major upgrades.

President Irfaan Ali

President Irfaan Ali distributes packages to members of the Guyana Defence Force (GDF).

Sunday December 15, 2024

Kaieteur News

PAGE 49

Guyanese brand consultant and environmental advocate, Dr. Davindra...

From page 46 issues, to foster a sense of responsibility and leadership in addressing local environmental challenges by 2026.

In his role as Project D i r e c t o r f o r S H O U T, National Secondary School Environmental Speech Competition, Dr. Lalltoo has been instrumental in fostering a sense of environmental responsibility and leadership among young people. “ T h e S H O U T competition aims to educate secondary school students a b o u t p r e s s i n g environmental issues and motivate them to take proactive steps toward sustainability,” he revealed.

Dr. Lalltoo’s leadership has facilitated collaboration with the Ministry of Education and corporate entities to ensure the success of the competition.

By recognizing and rewarding outstanding environmental advocacy, SHOUT encourages students to become advocates for change in their communities.

The competition has also inspired broader involvement from environmental organizations and stakeholders, helping to s t r e n g t h e n G u y a n a ’s c o m m i t m e n t t o environmental conservation.

Notably, the competition has led to tangible outcomes, such as the reduction of plastic waste at Queen’s College through the installation of water purification systems, and the goal of eliminating 75% of plastic bottles by 2025.

Additionally, the project has introduced a hydroponics system to Queen’s College, providing fresh vegetables for the s c h o o l ’s c a n t e e n a n d

offering agricultural students hands-on learning opportunities.

These advancements not only support the local community, but also provide practical solutions for sustainability. The success of these projects is paving the way for future expansion, with plans to introduce the water purification system to West Demerara Secondary Schools in 2025.

YOUTH/ ENVIRONMENT As the Project Director for the ENGAGE Project, Dr. Lalltoo has played a pivotal role in empowering young people across Guyana to create environmentally sustainable businesses.

The ENGAGE Project is a national initiative designed to equip youth with the knowledge, skills, and resources to launch businesses that not only generate profit, but also positively impact the environment.

In his capacity as a consultant, Dr. Lalltoo’s primary role is to ensure that the projects he oversees are consistently aligned with their objectives, with a strong emphasis on accountability.

He plays a critical role in guiding project planning, execution, and monitoring, ensuring that all activities meet the intended goals and that resources are efficiently utilized. He does this through close collaboration with stakeholders to maintain effective communication, holding teams and organizations accountable for their contributions. He ensures that progress is tracked, and any challenges that arise are addressed promptly, keeping projects on course toward success.

The greatest highlight of Dr. Lalltoo’s work is the impact it has on the people and communities involved.

“Whether empowering youth through sustainable business practices or a d v o c a t i n g f o r environmental conservation, witnessing the positive changes in the lives of individuals and communities brings me immense satisfaction,” he said.

Having the awareness that his work helps drive meaningful change and create opportunities for growth and development is a source of fulfilment for him.

However, the challenges are significant. Dr. Lalltoo often faces the complexity of ensuring that projects remain on track amidst evolving circumstances, such as securing funding, managing diverse stakeholders, and addressing the unique needs of various communities.

Additionally, balancing short-term deliverables with long-term sustainability is a constant challenge, as Dr. Lalltoo strives to ensure that the impact of each project lasts well beyond its initial implementation.

Despite these challenges, the sense of accomplishment that comes from making a lasting difference in the community continues to drive his dedication to delivering high-quality, impactful projects.

LASTING IMPRESSION Dr. Lalltoo is driven by the desire to create lasting, positive change in the lives of individuals and communities.

His passion for sustainability and empowering youth fuels his motivation, especially when he sees the tangible impact of his work on environmental protection and community

development.

The opportunity to work on projects that not only contribute to economic growth but also safeguard the future of the planet keeps him focused on his mission.

In recognition of his d e d i c a t i o n a n d achievements, Dr. Lalltoo has copped several prestigious awards, which serve as further motivation in his ongoing efforts. These include the Caribbean Global Award for Best Global Community Leader in 2024, and a Silver Finalist for the Under 35 Trail Blazer category in the same year.

In 2019, he was honoured as a National (Guyana) Yo u t h Aw a r d e e f o r Environmental Protection and Conservation, as well as for Youth Entrepreneurship, acknowledging his significant contributions to

both environmental efforts and fostering youth-led business initiatives. He was named the Runner-Up in the Scotia Bank LivePitch Competition in 2017, further solidifying his reputation as an influential leader and entrepreneur.

A BALANCED LIFE D r. D a v e L a l l t o o revealed that he manages to balance his demanding professional life with his personal commitments through a well-structured schedule. He finds solace in his beloved cat, Brandon, who he often refers to as his stress breaker. Brandon is not just a pet, he said, but a significant part of his life, providing the warmth and comfort that only a furry friend can offer.

Dr. Lalltoo makes it a priority to engage in activities that promote

relaxation and personal growth. His passion for adventure fuels his desire to discover new places, meet d i ff e r e n t p e o p l e , a n d immerse himself in various cultures, enhancing his perspective on life. By taking time for these experiences, he ensures that he stays grounded, recharges his spirit, and maintains a healthy work-life balance.

He revealed that his goal for life moving forward is to continue creating a meaningful impact in Guyana and globally.

“My aim is to enhance my environmental projects while fostering connections with diverse communities and individuals,” he said.

Through these efforts, he hopes to inspire positive change and promote sustainability in the regions he engages with.

PAGE 50

Kaieteur News

Sunday December 15, 2024

Inattentive driver almost runs over woman and baby at Massy parking lot

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The driver of a car was, on Saturday, accused of being inattentive after he almost drove over a woman and her toddler while he was exiting the Massy parking lot in the Movietowne compound.

The driver then reportedly verbally abused the woman, exited his vehicle and attempted to physically attack her when she pounded on his car after it hit her. It was only after the woman’s husband intervened that the driver

The woman took a photo of the car as it was leaving the Massy parking lot

From page 06 and the government say there is no shortage.

Guyana has an excessively weak dollar that trades at over two hundred to an American dollar. Guyana was known to import more than it exported after independence (1966) until recently with the production of oil beginning in 2019. The exchange rate of the G$1 has slid from around $1.60 in 1966 to over two hundred today to the US dollar. So, what determines the rate at which to purchase other currencies? In a free market, Gampat says, “it is the market” or supply and demand that determines the price of a currency. In Guyana, the American dollar (greenback)

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vehicle angry and began hurling abusive and xenophobic remarks at her, reportedly calling her a “Spanish wh**e” before advancing toward her.

The woman’s husband said he was only a short distance away and on viewing the scene, he intervened to save his wife from further abuse.

“She hit the car to get his attention because if he had proceeded, he would’ve run

them over,” the husband told Kaieteur News as he recalled hearing the man threatening to beat his wife “claiming she had no right to hit his car”.

Upon the man’s intervention, the driver calmed down and said he did not see the woman and the baby.

Eyewitnesses corroborated the couple’s story, claiming that the driver of the car was errant.

Java Coffee Bar celebrates...

From page 12 series of celebratory events, including pop-up experiences, community givebacks, and special promotions across all locations.

The company invites its loyal customers, partners, and community members to join in the festivities and celebrate 10 years of shared memories and growth.

Java Coffee Bar is a dynamic coffee and food service brand that has been at the forefront of creating exceptional customer experiences since its founding in 2014. With a strong presence in malls, private corporate canteens, and the oil and gas sector, Java Coffee Bar is dedicated to blending innovation with a personal touch.

Java Coffee Bar was founded by Miguel and Evie Gurchuran. For more information on Java Coffee Bar’s anniversary events or services, please contact Roshinie Raghubir, Operations Manager, Java Coffee Bar Inc. at 630-3680.

A brilliant book on foreign exchange by Dr. Ramesh Gampat...

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stopped abusing the woman.

Speaking with Kaieteur News, the woman, a Venezuelan National said that she had just stepped out of her husband’s car and was walking towards the supermarket with her baby, when the car drove into them and hit her.

The woman said she only knocked on the car to stop the driver from accelerating further.

The driver immediately stopped but came out of the

LAND FOR SALE On Hogg island near stelling100 Acres block of fertile agricultural land know for pumpkin & watermelon #227-1813

is preferred although the British pound, Canadian dollar, and East Caribbean dollar are also regularly exchanged in Guyana. But the two most important currencies used to trade are the US dollar and the Trinidadian dollar.

The book is divided into twelve chapters with each discussing economics concepts (related to foreign exchange) with many charts and tables. Gampat has not shied away from political economy, and he notes that Guyana’s politics is very toxic.

The very first chapter is titled “Politicization of Truth”. The arguments in the book are well documented with countless citations and references and hardly any flaws.

The book presents excellent research on exchange rate and related concepts.

Gampat uses theoretical concepts and empirical information to substantiate his claim.

The book is hailed by Guyanese economist Dr. Collin Constantine Girton of University of Cambridge who writes: “Dr Ramesh Gampat

stands out as the first analyst to consolidate recent statistics on Guyana’s burgeoning oil economy. This book is essential reading for anyone engaged in public debate and policy regarding the dynamics of the local foreign exchange market, fiscal and public debt policies, and exchange rate management.

Students and general readers will appreciate the accessible introduction to Exchange Rate Theory and the thorough examination of the local FX market, covering cambios as well as the interbank FX market”.

This is an excellent book and the analysis compelling.

It is an essential read in the field of exchange market and related financial matters and economics, and as Prof Constantine puts it, “for anyone interested in the intricacies of Guyana’s evolving economy and its impact on the foreign exchange market”.

The final Chapter (12) is an excellent summary of the major findings of the book.

Towards the end, Gampat writes: “If there is a single major take-away from the dis-

cussion in this book, it is that there was an excess demand for foreign exchange, mainly the USD, in 2021, 2022 and 4 of the 6 months in the first half of 2023.

The shortage was caused or aggravated by two factors [Imports larger than exports by the non-oil economy, and the Bank of Guyana which prioritizes reserve targets, which removes FX from the market].

Both of these factors “will continue to operate for the next few years or so,” according to the author (p. 349).

Finally, Gampat writes, “The merchandise trade deficit of the non-oil economy and the monopolization of oil revenue by oil companies are major causes of the FX shortage plaguing the non-oil economy.

The implication is dire: the shortage is likely to continue for years into the future and little redress can be expected from oil revenues” (p. 351).

(Book is published by Xlibris, 404 pp and can be obtained from Amazon!

Sincerely, Dr. Vishnu Bisram

Escapè Book Club hosts 4th annual holiday gift drive...

From page 43 reach of our holiday drive, spreading cheer even further and ensuring that more children experienced the magic of the season.”

She explained that the Escapè Book Club’s holiday gift drive is more than just a charitable event—it’s a testament to the power of compassion and the importance of

coming together to uplift one another. According to Mohamed-Ferouz, each member’s contribution, whether through shopping, packing, or simply sharing their time and energy, played a vital role in the event’s success.

“We are deeply grateful to everyone who participated and supported this initiative.

Your generosity and commitment have once again made the holiday season brighter for so many.

Together, we have brought smiles, warmth, and hope to our community.

Thank you for being a part of this meaningful journey, and we look forward to continuing this tradition in the years to come,” she added.

Sunday December 15, 2024

Kaieteur News

PAGE 51

Israel bombards schools and homes in Gaza, a day after Nuseirat massacre - Israel has killed at least 52 people over past day as it continues to target civilians, hitting two Gaza city schools

Aljazeera - Israel is still attacking homes and schools across the Gaza Strip, killing and injuring several people just one day after dozens were massacred in a strike on Nuseirat camp.

Dawn raids on Saturday killed four members of the Saadallah family in their home in Jabalia, two people in a school northeast of Gaza City and one person sheltering in a tent south o f K h a n Yo u n i s , Palestinian news agency Wafa said.

Later that day, the military killed seven people in a strike on AlMajida Wasila School in the northern Al-Rimal neighbourhood west of Gaza City, according to Wafa.

The news agency also reported a drone attack

on a group of civilians at the Jalaa Junction northwest of Gaza City, which killed one woman and injured several others. Another civilian was killed in an airstrike west of Al-Nuseirat camp.

A further five citizens were injured in a drone attack on the Al-Mawasi area west of Rafah city.

‘Constant attack’ The attacks took place just one day after Israel killed at least 36 people, most from the al-Sheikh Ali family in the Nuseirat refugee camp, leading to w i d e s p r e a d condemnation.

In northern Gaza, which has been under an even tighter siege over the past two months, Israeli forces blew up buildings and burned dozens of

A Palestinian child on the rubble left by an Israeli strike on Nuseirat refugee camp, on December 13, 2024 [Ramadan Abed /Reuters]

Pork-knocker fatally...

From page 8 and upon his arrival he discovered his clothes scattered inside and outside of the camp and Williams naked.

“I immediately confronted Williams and asked who placed my clothes and belongings there. An argument broke out between us. Williams then grabbed a piece of round wood and dealt me three lashes to my forehead and shoulder. I then armed myself with a cutlass and dealt Williams two chops one to his right-side neck and another to his left hand -causing wounds and bleeding,” he said.

The injured Williams was rushed to the Pakera Hospital in the North West District; however, he was pronounced dead on arrival.

At around 14:00h, police detectives, along with the suspect, visited the crime scene. Police said that the scene is an outdoor public-view area near a camp constructed with several wooden supports, located on the northern side of Nassano Backdam (Main Access Trail). The camp is roofed with white tarpaulin and surrounded by dense bushes.

Photographs were taken and the evidence, including a piece of wood and a cutlass with visible brown stains suspected be blood, was collected.

The items were photographed, removed and lodged as evidence. The suspect is currently in custody at the Port Kaituma Police Station, North West District.

homes in and around Beit Lahiya while firing at Kamal Adwan Hospital, according to Wafa.

Reporting from Deir el-Balah, Al Jazeera’s Ta r e q A b u A z z o u m mentioned stepped-up overnight attacks on Kamal Adwan Hospital, n e a r B e it Lahiya, the previous day, which saw medical staff injured and an ambulance set ablaze.

The Israeli military, he said, was trying to take ambulances out of

service.

“At the same time, they are trying to exert more pressure on medical teams who are still trapped in Kamal Adwan Hospital,” he said.

The director of the hospital’s intensive care unit was killed in a drone strike last month.

Ethnic cleansing?

Abu Azzoum also said Jabalia, Beit Lahiya and Beit Hanoon in the north of the Strip were “under constant attack by the Israeli

ground forces, which [have continued] operations for more than 17 days so far”.

Israel has imposed a total siege on several neighbourhoods in northern Gaza, prompting accusations that it is pushing to permanently displace Palestinians and ethnically cleanse the area.

Muhannad Hadi, United Nations humanitarian coordinator for the occupied Palestinian territory, decried in a statement on Friday the

“rapidly deteriorating security and humanitarian situation” in Gaza.

“In recent days, multiple strikes across t h e G a z a S t r i p h a ve resulted in scores of reported fatalities and numerous injuries,” he said. “ W o m e n a n d children continue to b e a m o n g t h e casualties.

Such incidents are further reminders of t h e u n b e a r a b l e h u m an cost of the conflict.”

PAGE 52

Kaieteur News

Sunday December 15, 2024

Sunday December 15, 2024

Kaieteur News

PAGE 53

BLUNTNESS ON INDECENCIES! In case you haven’t heard, please be informed that as part of our continued effort to channel positive changes in our country, our publisher, Mr. Glenn Lall, has dedicated our Page Seven to be “BLUNT” about ongoing indecencies in our land that should matter, not only to us at this publication, but the entire nation.

Monday December 9, 2024 ExxonMobil and trust Any Guyanese that places an iota of trust in what ExxonMobil does here needs to obtain some professional attention.

We make room for the PPP/C and the PNC and the AFC- they are just as crooked.

A n y n a t i o n a l government or political party, populated by patriotic leaders that thinks of ExxonMobil as a trusted partner really ought to be nowhere near the corridors of power.

We say it as bluntly as we can: ExxonMobil is not to be trusted. ExxonMobil has done little to garner credibility with Guyanese on their oil, has been as untrustworthy as they come when certain deplorable aspects of its presence here are weighed. The company has been found wanting, and by a large margin.

Tuesday December 10, 2024 What is there to hide?

Vice President Bharrat Jagdeo and the PPP/C Government are doing everything in their powers to be as opaque as ever with the management of this country's resources.

Last week, when he was asked why government does not give a proper account as to how the oil money is being spent, Jagdeo was quick to offer one of those silly excuses and try to obfuscate

the issue by saying that doing so would be very difficult.

We strenuously disagree with Jagdeo. It is not “very difficult” to deliver the kind of transparency Guyanese need with withdrawals from their Natural Resource Fund (NRF).

In typical fashion, what Jagdeo doesn't want to reveal, he wraps in mud. He gives this long, drawn out speech, so that oil withdrawal transparency is clouded in a hail of words.

Jagdeo came up with 89 words that filled a page about how “very difficult” it is to deliver transparency, but still left nothing but blankness.

The question is why is the much-needed transparency on withdrawals from the NRF causing he and his PPP/C Government so many fits? What is there to hide, why does he have to go to these lengths of disingenuousness?

Wednesday December 11, 2024 Spineless leaders Yesterday we carried a story with our main opposition political parties demanding better fiscal terms before government greenlights ExxonMobil's seventh oil project. We, at this newspaper, are not convinced one bit that they are actually serious about their call.

Guyana's leaders have not manifested the required courage to wring favourable

oil terms from ExxonMobil.

Guyana's leaders have failed miserably in developing the skills, finding ways, to get better at the oil game and beat ExxonMobil at its own self-enriching game that is done at the expense of the people of this country.

Former president Jagdeo, Opposition Leader Jagdeo, and now Vice President Jagdeo, had so much to say about all that was wrong with the 2016 oil contract and how much he was going to do to make it better for Guyana.

Today, leaders like Jagdeo and Norton speak in riddles: more money but leave out the other half of the oil story (depleting resource) and their cowardliness to fight for more, for Guyana.

Thursday December 12, 2024 Pay hike and inflation Public servants in Guyana have been greeted with the welcome news of

salary increases and allowances for 2024. Yet amidst the applause, let us take a moment to scrutinize the broader canvas of justice and equity that frames these increments.

Salary increases, laudable as they are, must be grounded in reality, and reality, in turn, is shaped by inflation.

If inflation is allowed to soar unchecked, these hardwon gains are quickly eroded, leaving the recipients no better off than before, perhaps even worse.

To e n s u r e t h e s e adjustments translate into genuine improvements, the government must provide credible and transparent inflation data.

Inflation, after all, is the silent saboteur of purchasing power, quietly gnawing away at pay checks.

Friday December 13, 2024 Guyana vs Suriname

Suriname has just found oil and has not yet produced any oil, but already inspiring provisions are being set in place for all citizens of that former Dutch colony.

Guyana is producing 650,000 barrels of oil daily presently, and has already shipped out 500 million barrels since oil first started to flow from under the sea over four years ago.

With oil numbers like those, and with oil prices where they are, all Guyanese should be doing very well, enjoying a better than average standard of living.

With oil revenues flowing into Guyana albeit at gangster levels from a vile contract, the national government is wellequipped to do better for all Guyanese.

Instead of that, Jagdeo's PPP/C Government has chosen to prioritize sharing the oil wealth with its inner circle, and a small crowd of

sycophants. Guyanese have received a paltry $25,000 (slightly over a hundred US$), and some minimal subsidies when it pleases leaders to do so.

Saturday December 14, 2024 Transparency in oil revenue spending Vice President Bharrat Jagdeo has said identifying projects and programmes funded through the nation's oil revenue would be “difficult”.

It would somehow not be difficult for him to show how the resources are spent in the event of a natural disaster.

Could the VP explain this nonsensical, spur of the moment thought he splurted on Thursday?

This nation knows a sloppy response when it gets one. Furthermore, if it is so hard to manage the pittance being received from our wealth, it is obvious that the PPP should not be in control!

Kaieteur News

PAGE 54

Sunday December 15, 2024

Several sponsors on board for Kennard Memorial Turf Club Boxing Day horse race meet - a number of entries already received

W

ith just over two weeks to go for the Kennard Memorial Turf Club (KMTC) Boxing Day horse race meet set for the Club’s track Bush Lot Farm, Corentyne Berbice preparations have heightened.

Already several sponsors have joined the fray and have attached their names to the

highly anticipated horse race meet.

Seven races are carded for the days programme with a whopping seven million dollars in cash, trophies and other incentives up for grabs.

The feature event is for horses classified C1 and lower and will see the animals competing for the Sunny Kharag Memorial Stakes and Trophy. A keen

battle is anticipated since the winning purse is pegged at an encouraging $1.2M and trophy over 7 furlongs.

The sum of $500,000 and a trophy is the reward for the winner of the three years old open Guyana bred horses’ competing over 7 furlongs.

The event for H1 and lower horses will also see the animals also racing first prize of $500,000 and trophy

Sunday December 15, 2024 ARIES (Mar. 21–Apr. 19) Something is currently compelling you to be more of a world citizen than usual, Aries. You may find this somewhat disturbing. You feel as though the roots of your identity.

LIBRA (Sept. 23–Oct. 22) Your optimism is likely to receive a little boost today, Libra. A memorable emotional encounter may be the source of some extra zeal. Or you may derive great satisfaction from being part of a group.

TAURUS (Apr. 20–May 20) Yo u r s u r r o u n d i n g s a r e currently changing, Taurus.

Perhaps your circle of friends has already undergone a major change. The fact is that you no longer have so many prejudices about the people you meet.

SCORPIO (Oct. 23–Nov. 21) Perhaps you should suspend your inhibitions for the day, Scorpio, and let your dreams guide you. For instance, you might imagine that the need to make any choices has vanished.

GEMINI (May 21–June 20) Gemini, you're demystifying the concept of talent. You used to look enviously at other people and think, "I wish I had a natural ability like that."

CANCER (June 21–July 22) Are you thinking of going into business for yourself, Cancer?

Being self-employed doesn't automatically mean you will have more freedom. Of course, you will be your own boss.

LEO (July 23–Aug. 22) Within the next few days, you're likely to gain access to dimensions of perception you never suspected, Leo. Perhaps you will become aware of certain energy phenomena, peak experiences.

VIRGO (Aug. 23–Sept. 22) Often fiery temperaments like yours are drawn to fight for great causes despite the better judgment of more down-to-Earth people. As a result, you have great leadership potential that may emerge today.

over 7 furlongs.

The event for horses classified J and lower over 6 furlongs has a first prize of $300,000 and a trophy.

There is the race for L open animals over 6 furlongs for $250,000 winners take and trophy.

The K class non-winners and L open horses will be galloping for a pole position taking of $250,000 and trophy.

A similar reward of $250,000 and a trophy is at stake for the winner of the race for the Guyana Bred two years old maiden horses.

Among the sponsors already on board are Trophy Stall, P and P Insurance Brokers, Kharag Family of U S A , P a t s a n Tr a d i n g Establishment, Horse Shoe Racing Services, Colin Elcock Delmur Company Limited, Metro Company Limited. Mike’s Pharmacy, N and S Matai and Company, Rohan Auto Sales, Khanai’s Guyana Electrical Agency, Devin Sawh Mechanical Work Shop, Joe Jagmohan, Big G Sawmill and Lumber

Berbice River Bridge Closure to Road Traffic Sunday December 15, 2024

For Ocean going Vessels & Trawlers 15:55hrs Monday December 16, 2024

For Ocean going Vessels & Trawlers 15:55hrs For Ocean Going Vessels opening last 1-1½ hrs

Demerara River Bridge Closure to Road Traffic Sunday December 15, 2024

For Ocean going Vessels & Trawlers 04:15hrs Monday December 16, 2024

For Ocean going Vessels & Trawlers 03:45hrs For Ocean Going Vessels opening last 1-1½ hrs DATE: 12/14/2024

SAGIT (Nov. 22–Dec. 21) This is the type of day you enjoy. The climate is positive, and the energy is flowing. It's as though you have a magic wand. You give it a wave and presto - the day's tasks and chores are done! By this evening.

CAPRI (Dec. 22–Jan. 19) If the world collapsed today, you wouldn't bat an eyelash.

You're perfectly content sailing along on cloud nine!

The source of your bliss could be that new person in your life.

Contact can be made with Isaac Dalloo 689-0629, Fazal Habibulla 657-7010, T. J a g d e o 6 1 8 - 7 2 7 8 , Ropnauth Sewsankar 6786722 or any other executive of the KMTC for further details.

The event will be staged under the aegis of the KMTC. Race time is 12:30 hrs.

(Samuel Whyte)

Ya r d a n d A n i r u d e Ramcharitar Construction.

The KMTC has been touted as one of the top horse racing venues in the country and is renowned for staging top class meets.

Outstanding jockeys, trainers and stable will receive trophies and other accolades compliments of Businessman Ramesh Sunich of the Trophy Stall.

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DATE: 12/14/2024 AQUARIUS (Jan. 20–Feb. 18) You may have had some emotional disappointments lately, but today will restore your faith in love. All you need to do is act. Your amazing lucidity and realism keep you from hoping for the impossible.

PISCES (Feb. 19–Mar. 20) Put on your traveling shoes, Pisces. Fear of the unknown may have prompted you to postpone certain trips. You claimed you were too busy, but no one really believed this.

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G.L.C. 357 Lamaha Street, North Cummingsburg, Georgetown Tel:226-0753. While every effort is made to ensure numbers are correct, please call the hotline for confirmation, The G.L.C. and Kaieteur News cannot be held responsible for printing errors.

Sunday December 15, 2024

Kaieteur News

PAGE 55

UDFA Christmas $3m Futsal Championship kicks off tonight with six matches at Retrieve Hard Court

T

he annual Upper D e m e r a r a F o o t b a l l Association’s Christmas club futsal championship will get cracking this evening (Sunday) with reigning champions Milerock among fourteen clubs contesting for the $1M winners cash incentive and champions trophy, as six matches are slated for day one starting at 7.00pm with the first match between Winners Connection and Coomacka at the Retrieve Hard Court in Linden.

Total cash monies and other prizes amounting to $3M will be at stake in this year’s championship which concludes on January 1, New Year’s night at the tournament venue.

Last year ’s top four teams Milerock, Capital FC, Winners Connection and Botafago were drawn separately into four groups involving the fourteen clubs, and will be playing a round robin format before the two top teams move through to

the quarterfinals. In Group A are Silver Shattas, Botafago, Amelia’s Ward and Net Rockers with Group B comprising Fearless, Topp XX and Capital FC, as Group C has Milerock, Blueberry Hill United, Eagles United and Hi Stars while Group D is made up of Rockstone, Winners Connection and Coomacka Mines United.

However, before that opening game all fourteen clubs will participate in the official march past of the clubs contesting the championship and the Linden Drum Corps will lead the procession after which remarks will be given by the UDFA President Wainwright Bethune in the presence of other UDFA officials, regional officials and representatives of the sponsors After the opening game at 7.00pm between Winners Connection and Coomacka the other matches are Blueberry Hill United against Milerock,

Georgetown Mayor Alfred Mentore launches City’s U17 Cricket Cup

H

is Worship the Mayor, Alfred Mentore, officially launched the City’s U17 Cricket Cup with an inspiring address encouraging young players to give their best in the upcoming tournament.

The launch event, which took place at Everest Cricket club, was attended by several key figures including Daniel Seeram Regional 4 chairman and Councillor Clayton Hinds along with Shawn Massiah - Chairman of the Competition Committee.

A number of sponsors also graced the occasion, showing their support for the development of youth cricket in the city.

Mayor Mentore urged all participating teams to compete with passion and determination, stressing that the opportunity to participate in this tournament is an important stepping stone for the youth cricketers leading up to the

inter association and inter County tournaments to qualify for selection to the national teams.

He called on the teams to compete in a sportsmanlike manner, enjoy the comraderie and strive for excellence, both on and off the field.

The tournament will feature teams from seven prestigious cricket clubs: Demerara Cricket Club, Georgetown Cricket Club, Malteenoes Cricket Club, Everest Cricket Club, Transport Cricket Club to name a few as well as a ladies team made up of players from various Georgetown-based clubs.

This initiative aims to nurture young cricketers, unearth new talent and promote teamwork, and competitiveness.

The tournament is set to be an exciting showcase of skill, determination, and sportsmanship of G e o r g e t o w n ’s y o u t h cricketers.

Eagles United will take on Hi Stars, Amelia’s Ward challenge Net Rockers, Silver Shattas clash with Botafago and the final game features Topp XX FC and Capital FC. The major sponsors are for this year’s championship are beverage giants Banks DIH through their Guinness, B a n k s B e e r, G T B e e r, Rainforest Water, RYDA Wine and Jai Signs.

Other sponsors are Bella’s Lumber Yard, Jermaine and Son Supermarkets, Foreign Links, Semple and Sons Hardware and Jagmohan Contracting Company.

Six more matches are carded for tomorrow (Monday) at the Retrieve Hard Court starting at 7.00pm.

Linden Branch Manager of Banks DIH Mr. Shawn Grant third from right hands over undisclosed cheque to UDFA Organising Secretary James Trotman third from left in the presence of other UDFA and Banks DIH Linden branch employees last Wednesday at the Linden Branch Office.

Kaieteur News

PAGE 56

Sunday December 15, 2024

Teams ready to rumble in the KFC Int’l Goodwill Series - uniforms and balls distributed The Petra Organisation has set the stage for the highly anticipated fifth Annual KFC International Goodwill Football Series, which kicks off today. The eight-day Series promises exciting action featuring some of the region’s best secondary school football teams.

This year, eight teams, including four from three CARICOM territories, will compete for supremacy in this premier event.

Yesterday, Petra Directors Troy Mendonca and Marlan Cole led final preparations, distributing uniforms and practice balls to participating teams at the t i t l e s p o n s o r ’s K F C Vlissengen branch.

Charmaine Farnum,

KFC’s Marketing Assistant, was present at the handover c e r e m o n y, a l o n g s i d e players, coaches, and technical staff, to welcome the teams to this year-end tournament.

KFC continues to champion youth sports d e v e l o p m e n t , o ff e r i n g young players a platform to showcase their talents in a competitive and exciting environment. Speaking at the event, Farnum emphasised the brand’s dedication: “KFC is privileged to once again bring this exciting football tournament to fans. As we celebrate the tournament’s fifth year, we are proud to sponsor this amazing event that highlights the incredible talents of young athletes

Team representatives assemble for photo-op yesterday at KFC Vlissengen branch, ahead of today’s start. across the region.”

Farnum noted that this year’s edition promises to be the biggest yet, featuring strong teams from across the Caribbean. She highlighted

the tournament’s emphasis on skill development, teamwork, respect, and camaraderie, all while providing participants with invaluable experiences.

Meanwhile, four thrilling matches are scheduled for today’s opener, with action taking place at the Ministry of Education (MoE) Ground and Queen’s College (QC) Ground. First up is a curtainraiser between defending champions Clarendon College (Jamaica) and Annai Secondary (Region Nine) at QC Ground. In match two,

Speyside High School (Trinidad & Tobago) will tackle Dolphin Secondary, also at QC Ground.

Moving across at MoE ground, RBL U18 League c h a m p i o n s C h a s e ’s Academic Foundation will go head-to-head with Suriname’s Henry Hassankhan Community College in match #3, while DC Caesar Fox Secondary (Region Seven) will go up against Trinidad’s Southern and Intercol champions St. Benedict’s College in the final match of the day.

The tournament has been

made possible through the support of KFC, Sterling Products, Tiger Rentals, Lucozade, Royal International Hotel, SkyTec Enterprise, and MVP Sports.

It is officially sanctioned by the Ministry of Education and endorsed by the Ministry of Culture, Youth, and Sports.

With eight days of exhilarating football ahead, the KFC International Goodwill Football Series promises to deliver unforgettable moments for players, fans, and all stakeholders.

Sunday December 15, 2024

Kaieteur News

PAGE 57

Vanderhyden, Bassoo, Wong among top graduates as GTA hosts year end grading

T

he Guyana Ta e k w o n d o Association (GTA) lauded 13 fighters following their belt promotions at the recently concluded grading.

Yo u n g s t e r s N a t h a n Vanderhyden and Vivek Bassoo stood out among their peers, with the former advancing from the Red Belt to the prestigious Red with Black Bar Belt. Bassoo, meanwhile graduated from the Blue Belt to Blue with Red Bar, with both fighters having sights set on attaining National Black Belt Kukkiwon International standards in early 2025.

Female star Kailan Wo n g a d v a n c e d f r o m Yellow Belt to Full Green Belt, while the highlytalented Shaynne Sealey transitioned from White Belt with Second Bar

Yellow to Full Green.

Azaria Profit and Rolex Alexander also showcased their progress, moving from White Belt with Second Yellow Bar to Yellow with Green Bar Belt.

The pair of Eva Thakurdin and Ameena Pereira progressed from White Belt straight to Yellow Belt, demonstrating that hard work and perseverance are paying off as they lay the groundwork for promising futures in taekwondo.

Additional promotions included Samaria Sealey and Obediah Batson, who advanced to White Belt with Second Bar Yellow, Ace Springer and sisters Pelaiah and Phileanah Erskine were promoted to White Belt with First Bar Yellow Belt.

Meanwhile, the GTA hails their students on their remarkable achievements

GGA looking to continue growth, following National Sports Awards

Nominee for Sportsman of the Year and Coach of the Year Aleem Hussain (left) and Philip Haynes.

The Guyana Golf Association (GGA) continues to grow ahead of the new year, as their efforts were recognized recently at this year’s National Sports Awards.

The recently concluded Ministry of Sports and the National Sports Commission (NSC) annual awards ceremony for the 2023 top athletes, coaches, associations and sponsors was held at Castellani House and the results were in accordance with the exceptional performances delivered by the nominees.

The work done by the NSC to ensure a fair and transparent process was key to the results and the entire nominations team should be congratulated on their efforts.

For the second year in a row, the GGA was among the nominees for Association of the Year and joining the categories of nominees for Top Sportsman

was president Aleem Hussain with Top Male Coach nominees being Philip Haynes, alongside Kevon Jawahir and Hussain.

According to Hussain, the recognition exemplifies how far golf has risen on the National stage in just three years due to the extensive efforts of the GGA/Nexgen Golf Academy and Westside Golf Course in association with the Ministries of Sport, Education and Tourism.

With the sport growing rapidly in popularity, plans are being formulated for additional facilities around the country and national tournaments in various aspects of the sport that will be sanctioned by the Ministry of Sport and the GGA. Hussain said he and his executives plan to build on this platform which has taken the association to a strong place, especially with huge plans earmarked for 2025 as they seek to make the sport a household staple.

and looks ahead to an exciting year, with plans for a host of taekwondo events as 2025 approaches. The GTA also welcomes new students, with classes scheduled every Monday and Wednesday from 5:15 PM to 6:15 PM at the Guyana Teachers Union Hall on Woolford Avenue, with intakes for new members kicking off from January 6, 2025.

From left - Vivek Bassoo, Shyanne Sealey and Nathan Vanderhyden were among the top graduates at the recent Taekwondo grading.

Teams ready to rumble in the KFC Int’l Goodwill Series rts

Spo

- uniforms and balls distributed

KFC Marketing Assistant, Charmaine Farnum and Troy Peters of Petra display the team jersey yesterday during the ball and uniform distribution event.

Georgetown Mayor Alfred Mentore launches City’s U17 Cricket Cup

Mayor Alfred Mentore along with other officials and some of the young players at the launch

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