Ramotar urges tougher anti-corruption measures in extraction industry

President Donald Ramotar on Wednesday urged all stakeholders to support tougher anti-corruption measures as well as greater transparency in the management of the country’s natural resources industry.
Ramotar was speaking at the opening of a seminar on sustainable development of the extractive industry organised by the United Nations Development Programme (UNDP) and the Natural Resources Ministry. The president said that the revenue earned from the natural resources sector should be used to broaden the country’s economic base and diversify other areas.
“In a way, we are fortunate to be developing our natural resources at a time when there is a body of knowledge in the world [that] has grown to some extent. This would allow us to learn from those experiences and to take the best of the positives and to minimise the negatives that exist,” Ramotar said.

A section of the gathering at the event

The president noted that government should use the resources garnered from the natural resources sector, to improve the standard of living of the country’s human capital. These resources, he said should also be used to develop the communities in which the resources are extracted from.
With these goals in mind, the head of state, noted that that it will require a stronger management of the sector. “We have to fight against corruption, which is one of the issues that has to be confronted and it must be confronted in areas where returns could be very high,” the president stated.
He suggested that Guyana works closely with countries that have similar resources, in order to develop a standard regime. This regime will be developed with the aim of maximising the benefits of the sector and discourage smuggling.
The president also made reference to alleged reports that Guyana’s gold is being exported illegally to other countries, where the royalty rate is much lower. This, he said should not encourage the country to lower the royalty rate, but to work on new strategies in acquiring more out of the natural resources sector and use the funds to push further development.

Sustainable operations
He also urged that businesses operating in the extractive industry, try their utmost to lessen the impact of their operation on the environment. Ramotar noted that the development of the sector must take into account the need for effective environmental and ecological considerations and reiterated his government’s firm position on the issue.
Natural Resources Minister Robert Persaud said the objective of the seminar is to improve management as well as transparency systems, within the natural resources sector. He urged greater efficiency and collaboration through good corporate social responsibility.
“We’ve thought it best that in working with the UNDP in developing a strategic framework for the entire natural resources and environment sector, that we pay keen attention to the role of corporate social responsibility, which in recent time has been a very important tenet of companies, as well as government in terms of how we manage the extractive industry as a whole.”
Minister Persaud said that the seminar would also review the existing system in Guyana as the ministry works with UNDP’s support to create a strategic framework for the natural resources sector.
The opening of the three day seminar was attended by UNDP Resident Coordinator Khadija Musa, Former Mongolia Mining Minister Zorigt Dashdorj, GGDMA President Patrick Harding, Guyana Energy Agency Head Mahendra Sharma and other senior government and private sector officials.