12 Jan

SWF for Cabinet next month

first_img…spending oil money to be guided by GSDS frameworkThe much-anticipated draft Sovereign Wealth Fund (SWF) policy, which has been with the Finance Ministry since early 2017, is expected to be presented to cabinet early next month, setting into motion the official establishment of the fund.This is according to Finance Minister Winston Jordan, who made this disclosure at a press conference on Friday. According to Jordan, the green paper (proposal) for the fund, renamed the Natural Resources Fund, is presently being finalised.Jordan also noted that the green paper seeks to determine how monies from the fund will be guided by the Government’s Green State Development Strategy (GSDS).The policy has been with the Finance Ministry since 2017The strategy, he said, contains 15 areas of development, in which context Government can conduct consultations.“That debate can be accelerated in the context of the Green State Development Strategy. The coalition Government’s blueprint is going to be the Green State Development Strategy: trying to put in place resilient infrastructure, trying to bridge the gaps, create additional towns and new spaces, and make Guyana green. That will require money,” he declared.“We can end up with a blueprint of what we want to do. During the annual budget exercise, there are widespread consultations, but to suggest that we need to call people together and sit around the campfire and determine how to spend this money, I don’t think anyone seriously could believe that there would be a model to push this country forward. We cannot discuss what we want to do with the oil money outside of a framework,” Jordan declared.GSDSWhen the GSDS was introduced, it was billed as a framework that would “build” on the Low Carbon Development Strategy (LCDS) designed by the previous administration to protect the environment while receiving financing.According to the framework document, a critical element will be the sustainable management of natural resources. In fact, one of the strategy’s goals is the mandatory reforestation of mining sites.The document stated that it will aim to “conserve an additional 2 million hectares through Guyana’s National Protected Area System, continuing to use its monitoring, reporting and verification (MRV) system.”It also plans on continuing promotion of the Iwokrama as a dedicated place for research “to develop, demonstrate, and make available to Guyana and the international community systems, methods and techniques for the sustainable management and utilisation of the multiple resources of the tropical forest and the conservation of biological diversity.”In the document, it is stated that a combination of conservation and sustainable management of its forests will form the crux of the strategy.It is noted that attracting additional international support for avoided deforestation through reforms in timber industries would include reduced impact logging.It is also slated to include “reviewing compliance with agreed sustainability targets; and in the mining industry, including mapping of mining resources, improving mining efficiency, and mandatory reforestation of mining sites. Some of these activities are already in the pilot phase. For example, sustainable land management and development – putting degraded and deforested lands to productive use.”The framework document states that the elements of the strategy will be examined and consulted upon between April and December of 2017. Public consultations are yet to begin.Within the framework, seven “central themes” are provided. They include promises to diversify the economy, “creating decent jobs for all”, transitioning to renewable energy, and “human development and wellbeing.”The framework of the GSDS and financing mechanisms’ document was completed in March with financial and technical support from UN Environment. Initial consultations in regard to the development of the framework document began in December 2016 between the Government and other key stakeholders.last_img read more

27 Dec

Businessman facing assault charge claimed victim is “discredited” Garda

first_imgA businessman charged with assaulting another man at his premises has claimed his alleged victim is a “discredited” member of An Garda Siochana.Gus O’Driscoll appeared at Letterkenny District Court charged with assaulting a man at his premises at Wet & Wild at Ballyraine Retail Park on December 7th last year. The court was initially told by solicitor Ciaran Mac Lochlainn that he was withdrawing form representing O’Driscoll in the case.O’Driscoll then said he was representing himself and made the allegation about his alleged victim.Garda Inspector Michael Harrison told the court that the accused had “no right or authority” to discredit the individual involved.He then demanded that the defendant “apologise publicly” for his remarks.Judge Paul Kelly adjourned the case until January 20th next.Businessman facing assault charge claimed victim is “discredited” Garda was last modified: December 22nd, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:courtdonegalletterkennyWet and Wildlast_img read more