Govt doing well managing transformational projects while meeting needs of citizens – VP

Vice President Dr Bharrat Jagdeo has stated that he is pleased that the People’s Progressive Party/Civic (PPP/C) Government has not only managed to get the big transformational project underway but balancing that with meeting the needs of citizens as well.
“We are very pleased with the big policy changes we’re making and getting these major things that require a lot of technical work going, whilst we’re not forgetting the concerns of our people – the roads and water and electricity and cost of living…”
“So, it’s not just focusing on those [major] things but balancing the big things that will transform whilst trying to improve the lives [of citizens] and adjust to unexpected things like the cost-of-living increases. That’s why our policy-making is so diverse, varied and caters for different level of problems,” Jagdeo posited.
Within this month alone, the PPP/C Administration has been able to kick off some of its flagship projects. Among these it’s the massive Carbon Credit deal Guyana signed with Hess Corporation on December 2.
This was after Guyana become the first country to receive certification of over 33 million carbon credits by the Architecture for REDD+ Transactions (ART). That issuance of the REDD+ jurisdictional carbon credits paved the way for the US$750 million agreement with Hess, which is one of the partners operating in the Stabroek Block offshore Guyana.
The US oil major will be buying 2.5 million credits per year for the period 2016 and 2032. However, while the deal is for a 10-year period, that is, 2022 to 2032, Government was able to negotiate, as part of the sale agreement, for Hess to also purchase some 12.5 million carbon credit from the period 2016 to 2020 – referred to as “legacy credit”.
“We now have the largest forest carbon trading scheme in the world, ever… And for only 30 per cent of our credit, we have sold at a minimum of US$750 million. So, 70 per cent of our credits remain to be sold,” the Vice President noted.
Another major development that occurred this month as well is President Dr Irfaan Ali launching the much-anticipated auction of Guyana’s remaining oil blocks offshore on December 9. This is in keeping with Government’s push to develop the country’s petroleum resources expeditiously.
There will be 14 oil blocks up for tender including 11 in the shallow area and three in deep-sea area. These blocks will range from 1000 to square kilometres (sq. km) to 2000 sq. km but with most of the blocks being approximately 2000 sq. km.
That bidding process is currently on and will run until April 14, 2023. Government is looking to have potential contracts signed by the end of May next year.
Meanwhile, only last week, the Guyana Government signed a US$759 million contract with CH4 and Linsayca, for construction of the Integrated Natural Gas Liquid Plant and 300-Megawatt Combined Cycle Power Plant at Wales, West Bank Demerara (WBD).
These two plants are major components of the PPP/C’s flagship initiative – the Gas to Shore project, which would significantly slash electricity costs in Guyana by at least half of the current rates.
These major milestones initiatives were advanced while government has been working on addressing the anomalies in the salaries of specific categories of public servants. Already, some 8,000 members of the Joint Services have benefited from over $1 billion in salary increases, while another $1.5 billion was injected into the salary adjustments for over 5,000 healthcare workers.
President Ali has reassured that other groups of public servants such as teachers will also benefit from similar pay adjustments.
This is in addition to an across the board 8 per cent retroactive salary increase for all public servants this year.
According to VP Jagdeo, the sleuth of other measures implemented by the PPP/C Administration has further contributed to offsetting the burden on Guyanese households. These include cash grants to various groups, cutting certain taxes to prevent passing on imported high rates and increasing disposal incomes.
“Overall, I think we’ve managed to get more people employed. Eleven thousand people under the Parttime Jobs initiative alone are now working and getting a salary to take home… We’ve had more people trained. So, I think, overall, we’ve put a lot of effort into it – a lot of behind the scenes work to make these things happen so it’s pleasing that things are going in that direction,” Jagdeo stated.
However, despite all of these achievements, the Vice President said government is still not satisfied and will continue to work to do much more for Guyana and its people.
“Next year, we will return to it with this same vigor and the same focus and the same orientation, and the same goal in mind which is to change people’s lives for the better,” he said. (G8)