As Guyana’s economy continues to evolve in the age of oil and gas, our institutions must evolve with it — not just in structure but in principle. At the heart of this change must be a commitment to fairness, inclusion, and shared prosperity. Only a month away we will have a new government i encouraged the new government to take bold steps toward economic justice. One transformative idea that demands serious attention is this: make GUYOIL a shared company for its employees.
GUYOIL, the Guyana Oil Company, has long stood as a state-owned symbol of national pride and energy independence. But pride alone does not pay bills, raise families, or build communities. The people who keep GUYOIL running — the pump attendants, technicians, drivers, clerks, and supervisors — deserve more than wages. They deserve a stake in the future they work to build every day.
When workers have ownership in a company, the benefits go far beyond financial incentives. Studies across the world show that employee-owned companies often see better productivity, lower turnover, and greater morale. Why? Because ownership fosters responsibility and dignity. When people feel that they are not just employees but co-owners, they show up differently. They invest more. They care more. And they contribute more.
In GUYOIL’s case, this can mean higher efficiency, better customer service, and smarter innovation — driven not from the top down, but from the shop floor up.
For too long, public sector enterprises in Guyana have been controlled by a political elite, often used as tools for patronage or state propaganda. The wealth generated by workers never trickles back down to them. It is unfair, unsustainable, and outdated.
Transforming GUYOIL into a partially employee-owned cooperative or publicly listed company with reserved employee shares would disrupt that old model. It would signal a new era in Guyana’s governance — one where workers are not just seen as tools of production but as partners in progress.
If successful, this worker-ownership model at GUYOIL could set the stage for similar transformations in other government entities. Let GUYOIL lead the way, and others will follow.
This isn’t just about economics. It’s about justice. It’s about recognizing that the true value of a nation isn’t found in barrels or pipelines but in people.
The government must initiate legislative or policy reform to restructure GUYOIL’s ownership. This can include:
- Issuing shares to current and long-term employees.
- Creating an employee trust fund that grows with company profits.
- Establishing governance structures that include worker representation at the board level.
- Ensuring protections against future political exploitation or sell-offs.
This change will not come without resistance. Some may argue that GUYOIL is too strategic or too critical to be shared. But true national strength lies not in state control — it lies in empowered citizens.
In a rapidly changing Guyana, it is no longer acceptable to cling to colonial models of governance where the few control the resources of the many. The workers at GUYOIL have given their sweat and labour to keep GUYOIL moving. It’s time we give them more than thanks. It’s time we give them ownership.
Let GUYOIL become the first symbol of a new economic democracy in Guyana — one where the future is not just for the rich or the politically connected, but for the people who built it.
