Understanding the draft Local Content Policy (Part 9) The proposed provisions do not allow the regulator full independence
Kaieteur News- Although the draft Local Content Policy explicitly calls for a local content regulator to be free from political interference, there are several conditions that prevent this objective from being fully realized or defended.
According to the draft policy, once the Petroleum Commission emerges, it would be tasked with implementing the document and its relevant regulations. It would do so through a dedicated Local Content Secretariat. However, that body would be overseen by an Interagency Co-ordinating Committee. It would include senior officials from different ministries and government agencies who would be responsible for overseeing the implementation of the Local Content Policy.
The Committee would have several functions which include:
a) Review and support the work of the Local Content Unit
b) Coordinate R&D and other capability development programs
c) Co-ordinate and support collaboration among the Local Content Unit and other government stakeholders
d) Promote local supplier and enterprise development
e) Removing administrative barriers to local participation in the sector
f) Report on local content and capability development activities and achievements
g) Development control and periodic review of this local content policy
h) Recommend changes to other government policies, legislation and / or regulations affecting the development of local content and capacity
According to the draft document, a “Multi-stakeholder Working Group on Local Content” will be established and chaired by the Government, comprising representatives of key stakeholder groups, including Chief Executives, multinational service companies, the local private sector by including the financial sector, education and training institutions, non-governmental organizations, labor and civil society.
The Working Group would only be able to advise the Interagency Co-ordinating Committee and support collaboration and co-ordination among and between stakeholder groups and allow early action on essential items required for the implementation of this Local Involvement Policy.