Kaieteur News

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Recent board K NEWS appointments are unlawful - Datadin

Sunday Edition

AIETEUR

March 10, 2019

Online: www.kaieteurnews.com

Guyana’s largest selling daily & New York’s most popular weekly

Going forward …

Price $140

Online readership yesterday 98,237

Why Guyana remains poor

GECOM will have to be more G vigilant on dual citizenship - Commissioner status of candidates Alexander Indian Arrival Monument finally completed

Kudos for talents: The local Guyanese artists, Winslow Craig and Philbert Gajadhar, who created the designs of the Indian Monument, Palmyra, East Berbice.

uyana is blessed with enormous natural resources. Yet, it remains among the poorest countries in the western hemisphere. Why should a country endowed with so much wealth have to endure the ignominy of being poor? The answer to that question lies in the fact that the wealth has been exploited in a manner which shortchanges the nation and enriches foreign firms. The wealth which Guyana possesses should have been able to guarantee a comfortable life for every citizen. That this has not happened is due in no small measure to the rape of our country's resources by foreign firms. Most of these firms show profits on their external balance sheets. Yet, despite enjoying generous tax holidays and other fiscal concessions, their local operations always seem to be declaring losses. And these 'declared losses deprive the nation of the revenues to which it is entitled. Many foreign firms have historically been complicit in ripping the nation off and robbing its people of their just entitlements. The pillage is not confined to firms operating in the natural resources sector. It is also prevalent in some public infrastructure projects which are being undertaken by foreign companies and which involve the blatant overpricing of projects. Guyanese, therefore, have to look beyond the promises of few hundred jobs for its nationals. They have to examine whether these jobs are not merely a smokescreen for the continued plunder of economic resources and the rip-off of the nation. If Guyana were to receive a fraction of what is due to us, every citizen would be able to live a happy life with all the comforts each desires. But this is not happening because most of the wealth which should have been retained for our people is being exported by the foreign investors to enrich foreign shareholders. Kaieteur News calls on Guyanese to wake up to the ongoing rape of Guyana's resources and the overpricing of infrastructural projects. Until, the larger picture is recognized, and until corrective action is taken to demand that Guyanese get a fair deal, Guyana will remain poor.

Schoolgirl raped Truck crushes Misleading the on Ogle seawall, porter at Kara stock market is a serious offence suspect arrested Kara toll booth - Guyana Goldfields Shareholders

Rusal has history of disrespect - decision time this in third world countries week on impasse


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