The Private Sector Commission (PSC) says it has taken note of the government’s intention to exercise its right under the Acquisition of Lands for Public Purposes Act to acquire private lands for public use.
In a statement, the PSC said “Such moves by any government are always viewed with a high level of skepticism and reservation by investors globally. Whilst such acts may be legal, they dampen investor confidence as they deem their right to own property to be insecure and their investments to be under threat.
“The Private Sector Commission calls on the Government of Guyana to be very cautious when invoking their right to acquire private property for public use and to ensure that adequate transparency, thought, public consultations and justifications are made to avoid unnecessary controversy when such decisions are taken. The Private Sector Commission wishes to highlight to the President and the Cabinet that the current transaction being pursued has caused many owners of private property to be in a state of trepidation. The Government needs to clarify their policy and position on this matter.”
