PPP Govt to create business opportunities for the ‘small man’ to invest in oil sector with just $50,000 – Jagdeo

Vice President Dr Bharrat Jagdeo has announced that the Peoples Progressive Party (PPP) administration has identified at least three initiatives to embark upon to create opportunities for the citizens to invest in the country’s lucrative oil and gas sector.

Speaking during his press conference on Thursday, Jagdeo said these initiatives can see Guyanese investing as low as $50,000 and would bar big businessmen from participating.

“We have already identified about three big business opportunities in the oil and gas sector that we can tailor for small people in the economy, small investors, that they can share the prosperity too and I am speaking about people who can do it in increments of $50,000 investments or $100,000…and to exclude some of the bigger guys,” he explained, noting that the “bigger guys” can invest in other types opportunities.

While not getting into much details, Jagdeo indicated that these are some of the initiatives to be pursued under a new PPP administration.

General and Regional Elections are set for later this year. The Vice President previously announced that once re-elected to office, his Government will continue the distribution of cash grants to citizens. These money, he said on Thursday, can be used to invest in the upcoming business opportunities.

“We want people to own things, everybody must have the opportunity to own something or to get more return from their money,” he said.

The PPP Government has so far provided several cash grant initiatives since its return to office in 2020.

Among them are the one-off $100,000 per adult citizen cash grant and the $100,000 per newborn cash grant.

Focusing on financial literacy and empowerment in the future, Jagdeo noted that citizens will be guaranteed a rate of return on their investments.

He said a whitepaper will be developed and shared for public input to promote buy-in of the initiative.