Recent disclosures on the receipt of revenues from Guyana’s oil (Official Gazette) show that Guyana received US$605.5 million, inclusive of US$84.1 million in royalty payments.
These payments relate to the last quarter of 2024 and the first quarter of 2025. However the PPP’s disregard for the nation’s call for renegotiating continues to cost Guyanese billions of US dollars annually. The DNC’s calculations show that based on royalty payments of US$84.2 million, Guyana had to forego a total of US$256.6 million (G$53.4 billion), comprising US$130.3 million in foregone income taxes and US$126.2 million in royalty payments based on a renegotiated 5 per cent royalty rate. These amounts will very likely exceed US$1.2 billion by year’s end, while the PPP continues to punish Guyana’s poor and financially insufficient families with often inadequate, squalor conditions in many home and communities, with poor water supply and woefully inadequate sanitary facilities. Many have been living in these conditions going back to the early 1900s.
The Democratic National Congress continues to urge our people to work to a common political solution this year. It is unacceptable that our poor, our children, should punish under the slavish and unyielding yoke of a PPP administration which it seems is now afraid of losing and taken to bullying on the national stage.