Giving Guyanese households a million dollars will not work - Pres. Ali

There will be no million-dollar payouts from the country’s oil and gas sector revenues to Guyanese.

This is according to President Irfaan Ali during his remarks at a recent cocktail reception held at the British High Commissioner’s residence.

The subject of the sum of US$5000, or roughly GY$1 million, being paid to citizens had been discussed by many Guyanese at home and in the diaspora on various social media platforms.

In the Kingdom of Saudi Arabia, citizens receive monthly payments from the state under the Citizen’s Account Program, which was designed to reduce poverty while improving the lives of those most in need, or about 10 million people.

However, President Ali believes that this type of arrangement would not work for Guyana.

“Don’t tell me nonsense about giving every household a million dollars from oil money. It doesn’t work anywhere.”

Instead, the Head of State says his government is working to create a business model that would see Guyanese here as well as those abroad have an opportunity to invest in an “investment vehicle that attaches them to the spin-off of the oil and gas sector.”

According to President Ali, it is an exciting time for Guyana, but it is also a time for clear thinking and understanding of the responsibility that the country now has to create positive global change.

“We are not going to work to be the wealthiest country in the world. We’re not going to work to be the country most bragged about. We have to be noted for who we are as a people and work to build a country in which prosperity comes to every family, prosperity comes to every home.”