- wants to ensure completion before demitting office
DURING meetings with residents at Vryheid West Canje and at Number 19 Village Berbice yesterday, President Bharrat Jagdeo outlined the myriad problems facing Guyana and other African, Caribbean, and Pacific (ACP) countries relating to the European Union (EU)’s preferential price cut on sugar.

He also referred to the Economic Partnership Agreement (EPA) which is expected to be signed by CARIFORUM countries next week.

The Head of State alluded to the rising price of fuel worldwide and also outlined some of the measures already taken by the Guyana government in its attempt to cushion the impact on Guyanese. Some of those measures, he said, include the government’s subsidizing of the energy and water sectors.

The President noted that the Guyana Power and Light (GPL) company has requested additional subsidies, and that the administration will have to channel another $700 million into the Guyana Water Incorporated (GWI) in order that water cost will not increase.

He said before he leaves office he wants to ensure that he builds the hydro-electric power facility estimated to cost in the vicinity of US$450 M.

On May 7, when he announced additional measures to cushion the impact of rising food and other prices, President Jagdeo had noted that Guyana has a very high consumption of fuel per capita.

“This is why we use now the equivalent of 35 per cent of our Gross Domestic Product (GDP) to import fuel. If it (fuel) goes to US$200 (per barrel) as predicted… I don’t think it’s going to get there in the near term… but assuming that that happens, close to 70 per cent of the GDP would be used to import fuel… No country could sustain that kind of financial resources without there being serious problems,” President Jagdeo had said then.

He had also stressed that renewable energy resource was the answer. Investors for the AMAILA Falls hydro-project have been speaking with the President.

The construction of a hydro-power facility is one of the additional measures being undertaken by the government to cushion the rise in fuel prices which have been increasing worldwide.

The Head of State listened to the various issues raised by residents including water problems which are being faced by residents of Vryheid.

He outlined other government initiatives such as the single parent fund and the fact that the government will be shortly providing eight vehicles for use by Community Policing Groups (CPGs).

President Jagdeo explained that though Guyana does not have a food shortage as such, that the government has to continue putting measures in place to ensure it remains that way. He also sought to remind residents that the government has also been subsidizing flour, and noted that by September the price for wheat should decrease.

Later in the evening, the President was interviewed by a staff of the Rock View television prior to attending the launch of CARIFESTA at the New Amsterdam Technical Institute.