Investors being chased out of Guyana by APNU, AFC – Finance Minister

Finance Minister, Dr. Ashni Singh.

Leader of the APNU, David Granger. [iNews' Photo]
Leader of the APNU, David Granger. [iNews’ Photo]
[]Finance Minister, Dr. Ashni Singh is of the view that the decision by Muri Brasil to pull out of its exploratory venture is the latest example of the harm being inflicted on Guyana’s developmental prospects by A Partnership for National Unity (APNU) and the Alliance for Change (AFC) attack against investors in Guyana.

Muri Brazil announced on Saturday that on December 30, 2013, the company made a decision to no longer pursue its geographical and geophysical survey under the PGGS granted by the Guyana Geology and Mines Commission (GGMC).

Muri Brasil Ventures in a statement said that “although the process was legal and transparent, this decision is due to the misinformation, prejudice and hostility to this proposed survey by persons and agencies which are fostering an adverse investment climate in Guyana.”

Minister Singh in a statement on Sunday, January 5 noted that, “this pattern of anti-development behavior by the Joint Opposition can be observed as they have repeatedly protested any project geared towards the development of Guyana.

AFC Leader, Khemraj Ramjattan
AFC Leader, Khemraj Ramjattan

“The Amaila Falls Hydro Project, the Cheddi Jagan International Airport Expansion Project, the Specialty Hospital Project and the Marriott Hotel Project are all examples of the Opposition creating havoc with its one seat majority in the National Assembly, spreading mis-information and driving away investors.”

He explained that the same anti- development attitude is seen even at the policy level in the Chambers of the National Assembly.

“The Anti- Money Laundering and Financing of Terrorism Amendment Bill and the currently debated Public Procurement Commission Bill saw objection from the Opposition, though neither party can identify any real issue of contention with the respective bills.”

According to the Finance Minister, similar anti- development sentiments are reflected with the cutting of the 2012 and 2013 National Budgets.

“It is important to note that every investor that has been chased out of Guyana represents hundreds of job opportunities for Guyanese that will not be realized.  The public should not take such coordinated sinister acts lightly as they are indicative of how little committment the AFC and APNU have to the progress and development of Guyana.”

Muri Brasil Ventures Inc is registered in Guyana under the Companies Act whose shareholders and directors are Guyanese citizens and have substantial experience in the mining industry.

Following the announcement by Natural Resources and Environment Minister of the permission granted for Muri Brazil to survey the area, a series of articles published in relation to the survey being conducted in the New River Triangle was published placing the agreement in a bad light. Objections to the survey were also raised by several opposition members, particularly Joseph Harmon.

Following these objections, Subject Minister, Robert Persaud expressed the view that it was an environmental scare that was being peddled by certain sections of society and deemed it to be “profound ignorance.”

The Minister had said, “The whipping up of environmental scare about the PGGS reflects either a profound ignorance of the scope of the activity or sheer mischief intended to mislead the public” adding that, “There was no breach of process nor violation of any established legal processes as stated in our laws on the granting of the PGGS. This is not the first PGGS to be granted in Guyana.”



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