Prof. Narine warns against giving citizens cheques from oil revenues  

By Devina Samaroo

Professor Suresh Narine Thursday warned against giving local citizens direct cash disbursements oil revenues.

The Executive Chairman of Canadian oil and gas exploration company – CGX Energy Inc – made the suggestion during his keynote presentation at the Guyana International Petroleum Exhibition and Summit (GIPEX) 2018.

“One of the things that I am most against is for us to simply hand monthly cheques to all Guyanese as we begin to receive proceeds sometime in 2020. This is tantamount to handing our people a fish rather than teaching them how to fish, and more importantly, how not to overfish,” Professor Narine stated.

According to a recent article published in the April 20^th, 2017 edition of the State Newspaper, Natural Resources Minister Raphael Trotman the told Economic Services Committee of the National Assembly last year that the Government was considering the distribution of annual cheques to the people – as is being done in Alaska.

But Professor Narine suggested that there be heavy investments in education.

“We must accept that our educational system is broken and immediately begin to invest in education and by this, I do not mean a rush to create geologists and petroleum engineers and skilled workers in the petroleum sector. I mean health professionals, agriculturists, renewable energy specialists, manufacturing engineers, etc,” he stated.

Professor Narine also expressed that Guyana lacks a “policy-driven approach” to governance and urged that this is corrected.

“It is time we begin to debate draft policies in agriculture, science and technology, renewable energy, taxation and investment…and a myriad of other crucial enablers,” he stated.

Professor Narine even recommended that there be a Ministry of Innovation and Industry.

“For it is only through ensuring that we have access to good health, a clean environment, good food and nutrition, security, and individual freedoms that we can use petroleum to unlock Guyanese access to the upper echelons of human development in Guyana,” he stated.