APNU asks parliament to stop using ‘oil money’ for regular spending

In a significant move to ensure fiscal responsibility, the opposition party A Partnership for National Unity (APNU) has proposed an amendment to the Natural Resources Fund Act (NRF) in Guyana. The amendment, introduced by APNU parliamentarian Dr. Terrence Campbell, aims to restrict the government from utilizing oil revenues for recurrent expenditures. Instead, it advocates for the funds to be allocated towards development and disaster-related projects, ensuring transparency and sustainability. Dr. Campbell, who also serves as the opposition’s representative on the NRF’s Investment Committee, has previously voiced these concerns publicly and initiated legal proceedings in the High Court. The proposed changes would explicitly prohibit the use of fund revenues for regular government spending and mandate their allocation exclusively for infrastructure, development projects, and initiatives promoting an inclusive green economy, as well as essential projects mitigating the impacts of major natural disasters.