Opposition Leader, Bharrat Jagdeo said that Guyana only has a mere 24 days fuel reserve capacity, pointing that the decision to revoke an oil exportation licence granted to China Zhonghao Inc is not a wise move for the country.
Jagdeo made this comment at a Wednesday afternoon news conference at his Party’s Robb Street, Georgetown headquarters.
According to the Opposition Leader, it is odd the Government would want to deny a company which wants to invest in Guyana’s bulk fuel storage capacity, noting that the State oil company, Guyana Oil Company (Guyoil) having a measly 14 days storage capacity, which simply means, if the country is unable to import fuel for more than three weeks it will be out of supply.
“Some countries try to encourage people to build more storage… we have 24 days of storage capacity. We should encourage people to invest and build more storage capacity. The Chinese can’t fetch away the tanks when they build them there, they can’t fetch them back to China, they are investing in our country,” he argued.
The former President rhetorically questioned why the Government would go after a legitimate company, which was intended to boost Guyana’s low bulk fuel storage capacity.
Jagdeo also lambasted the APNU Administration for what he described as a duplicitous approach, pointing to a recent statement by Foreign Affairs Minister Carl Greenidge, who said that the Governments of Guyana and Brazil were holding discussions to approach the Chinese Government to fund the Linden to Lethem Highway contraction and other infrastructural projects in Guyana.
“So on one hand there is this big assault on the Chinese companies … and then on the other hand they are looking for money from the Chinese Government to build the road from Brazil to Guyana and the other infrastructure… looking for money from the Chinese Government and on the other hand chasing away all the Chinese investors,” Jagdeo highlighted.
Jagdeo urged the Chinese Ambassador to Guyana to intervene and say clearly to the Guyana Government that the harassment of Chinese investors must cease.
Jagdeo also made it clear that if any company, Chinese or otherwise, break the laws of Guyana in anyway, then they must be sanctioned; however, the Government must not target these companies because of a hidden agenda.