Business News

Business in Guyana: A Tale of Two Approaches

GHK Lall criticizes the PPP government for its business practices

GHK Lall, a columnist and author, has written a scathing article on the business environment in Guyana under the PPP government. He claims that the Vice President, Bharrat Jagdeo, has his own concepts of how business should work, which are not based on any textbooks or best practices. He accuses Jagdeo of demanding and receiving political favors from suppliers, contractors, and investors, while ignoring the interests of the taxpayers and the national development.

Lall cites the example of how Jagdeo handled the US$214 million audit of ExxonMobil’s oil costs, which he says was done without proper discussion or transparency. He also questions why Jagdeo entertained proposals from ExxonMobil to reduce its taxes and royalties, when the GRA had already determined that the company owed more than US$55 billion to Guyana. Lall argues that Jagdeo’s business ideals are more suited for Patrice Lumumba University, a Soviet-era institution that trained Marxist-Leninist revolutionaries, than for Harvard Business School.

Business in Guyana: A Tale of Two Approaches

Lall contrasts Jagdeo’s approach with that of former President David Granger, who he says was more committed to following the rule of law, respecting contracts, and ensuring accountability. He praises Granger for establishing the Natural Resource Fund, the Department of Energy, and the Local Content Policy, which he says were aimed at maximizing the benefits of oil for Guyana. He also commends Granger for seeking international support and mediation in the border dispute with Venezuela, which he says was a threat to Guyana’s sovereignty and security.

Lall calls for dialogue and cooperation among political parties and groups

Lall acknowledges that he has been a vocal critic of Jagdeo and the PPP government, but he says that he is willing to work with them for the sake of national development. He says that he is not an enemy of Jagdeo or the PPP, but a patriot who wants to see Guyana prosper. He appeals to Jagdeo and other leaders to listen to different opinions and ideas, and to engage in constructive dialogue and cooperation. He says that development will only occur when Guyanese learn to get past their differences and work together for the common good.

Lall also urges Guyanese to be vigilant and informed about the issues affecting their country, especially in relation to oil and gas. He says that Guyanese should not be swayed by propaganda or misinformation, but should seek the truth and demand accountability from their leaders. He says that Guyanese should not settle for less than what they deserve, but should aspire for higher standards and better outcomes. He says that Guyanese have a golden opportunity to transform their country with oil wealth, but they also have a responsibility to ensure that it is done wisely and fairly.

Lall invites feedback and comments from readers

Lall concludes his article by inviting feedback and comments from his readers. He says that he welcomes constructive criticism and suggestions on how to improve his writing and analysis. He also says that he is open to hearing different perspectives and viewpoints on the issues that he covers. He says that he values diversity and dialogue, and that he hopes to learn from his readers as much as they learn from him. He thanks his readers for their support and interest, and encourages them to continue reading his column.

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