The Private Sector Commission (PSC) yesterday made an impassioned plea to government and the opposition to put aside political bickering and unite to formulate sound financial and others plans to holistically develop the country.
“I would like to ask the Government and Opposition to unite, in the interest of allowing the country to bring on board fresh ideas, instead of bickering and casting blame,” Chairman of the PSC Eddie Boyer repeated twice during an address at the Commission’s Annual General Meeting at the Marriott Hotel. Boyer was later returned as Chairman unopposed.
“In these challenging financial times our country is experiencing now, political division serves no purpose unless the aim is for it to be truly a banana republic. I therefore urge that the country’s development be high on the agenda regardless of who holds power,” he added to the applause of attendees.
Boyer gave an overview, from the perspective of the PSC, of the challenges and positives in 2016.
“While the growth in the economy was in the vicinity of 3%, 2016/2017 was a year of many challenges as the growth in the economy slowed and businesses were feeling the pressure of this. In addition a number of additional and increased taxation was placed on individuals thus reducing disposable income. In addition remittances slowed tremendously. While these were factors for a catastrophe waiting to happen, government and business worked together to stem the tide of despair,” he said.
“While the Commission was generally satisfied with Budget 2016, in its efforts to restore investor confidence and support a vibrant economy, it expressed disappointment in a few areas. Among these was the small increase in the personal tax threshold which could have been increased significantly to provide relief to low income earners,” he added.
In addition, the Chairman pointed to the 2017 Budget saying although it is lauded for the reduction of VAT from 16% to 14%, it has to be highlighted that simultaneously came the introduction of VAT on water and electricity over a certain value, both essential services and both of which measures were decried by the PSC.
The introduction of VAT on private education, was an issue the PSC said that came as a blow to many parents and to those seeking to further their education. The Commission maintains that the social impact of such policies should be carefully considered before their imposition.
Boyer also promised that the PSC would continue to remain vigilant of all decision making of the government and pledged to continue to fight “tooth and nail” for a fair and transparent agreement.
Key among concerns of the PSC was also addressing job creation and economic stability and sustainability, enhanced security, maintenance of good governance and peace within the country.
“In all of these we engaged the Government and leaders of our country to be their partner. We were conscious of what was happening in our region. Today Venezuela, Brazil, Suriname and Trinidad, all of our neighbours, are experiencing political and economic turmoil. We in the Private Sector Commission have helped guard against the exigencies that would have led us down this path,” Boyer stressed.
‘Elusive’
It was the issue of youth unemployment that the PSC’s Governance and Security sub-committee head, Gerry Gouveia, zoomed in on as he addressed attendees who included Minister of State Joseph Harmon and Minister of Business Dominic Gaskin.
“I put it to you that one of the greatest challenges facing Guyana today, Mr Harmon, Mr Chairman of the PSC…is the creation of jobs. Creation of jobs is a serious problem. We have thousands of persons graduating from the University of Guyana every year and they are searching for jobs and can’t find them, thus they are leaving Guyana. We are not just talking about jobs we are talking about proper paying jobs these young people could buy a house, a car, go on vacation and they could have a vision of Guyana for the next 20, 30, 40 years,” Gouveia stressed.
“Every day I look out of my window at Duke Street over to the embassy I see hundreds of young people lined up looking for a better life. We promised them a better life and we must give them it. A good life is not just talks we have to create these jobs. But how do we create these jobs? Government don’t create jobs they create the environment so that investors can create those jobs. The leaders in Guyana…every day we must work, in everything we do, to create investor confidence both local and foreign,” he added.
Gouveia said it was a shame that the leaders keep failing the youth of the country where “elusive” promises and dreams are sold. “We need to stop it,” he asserted.
He reasoned that the work needed has to come from all stakeholders.
‘No illusion’
His words seemed to have struck a chord with the Minister of State as he used his address to state that his government was committed to working to create not only an enabling environment for the PSC, but a good life for Guyana’s citizenry. Harmon said that as part of government’s sustainable road map to a green state, where its populace also lives in abundance, the PSC plays an integral role.
Harmon said, “It was at the inception of our administration Mr. Chairman also, that our relationship with the PSC was defined and put into context by his Excellency President David Granger… who said that the Private Sector should play the lead role in terms of economic growth. He further stated that he envisaged that much of the change over the next five years will be led not by the state sector but by the private sector… We have no illusion of our role as government. It was clearly defined by the president and that is what we are working to. To provide that enabling environment so the private sector can play its major role.”
He assured that his government is committed to working with all stakeholders as it too wants that abundant and thriving life for its citizenry.
“I want to implore that what we see for Guyana, once we are able to put Guyana first and are able to put personal prejudices aside for the best of the country…we will get there. There is an old saying that ‘When the tide rises all the boats rise’, so if we work together to rise the tide of influence and goodwill for all of Guyana, we will be a better place and the good life will not just beckon but will become a reality,” Harmon said.
