Restoring the economy
Speaker of the National Assembly, Dr. Barton Scotland, Minister of State, Mr. Joseph Harmon and Minister within the Ministry of Finance, Mr. Jaipaul Sharma
with the current Chairman, Mr. Eddie Boyer and other top executives of the Private Sector Commission (Ministry of the Presidency photo)
Speaker of the National Assembly, Dr. Barton Scotland, Minister of State, Mr. Joseph Harmon and Minister within the Ministry of Finance, Mr. Jaipaul Sharma with the current Chairman, Mr. Eddie Boyer and other top executives of the Private Sector Commission (Ministry of the Presidency photo)

…Harmon tells PSC conducive business climate on horizon

By Zena Henry
MINISTER of State Joseph Harmon has assured the private sector that government is well on its way to enabling a successful business atmosphere here as it gradually frees this country from an “illusionary economy” which the APNU+AFC Coalition government inherited.
The minister was responding to criticisms levelled against the government when members of

Minister of State Joseph Harmon presents a token to PSC Executive Captain Gerald Gouveia at the Annual General Meeting on Thursday

the Private Sector Commission (PSC) met at their Annual General Meeting (AGM) at the Marriott Hotel on Thursday.

The occasion also marked the body’s 25th anniversary. After earlier speeches that dealt with political “bickering,” public security, contracts, lack of jobs and government’s sloth in creating an “enabling business environment,” Harmon told the gathering which included government ministers, the diplomatic community and business stakeholders, that the administration is well aware of its role.

He said when President David Granger addressed the PSC at an earlier AGM, he had related his vision to them, in them playing a lead role in changing the country over the next five years, while government fulfils its obligation of providing an enabling environment.
“The role of government was envisioned as that of the facilitator of business, providing an enabling environment with strong institutions, free from executive interference, efficient law enforcement and regulatory agencies, a highly educated work force and infrastructural development that facilitates access to, and better use of our abundant resources.
“We have no illusion as to what our role is in government,” Harmon declared. He said in the last two years, government has been working assiduously to create that enabling environment but has been confronted with enormous inherited issues that hindered development and these are still being dealt with.

Illusionary economy
What was inherited was an illusionary economy that hindered development of the productive sector and sidelined legitimate businesses that lacked focus on value-added production and the inability to effectively allocate resources and effect public expenditure, because of limited human capital capacity.
“Our institutions and our systems, we have to try to ensure that they work to legitimise our economy to bring Guyana into compliance with international financial probity and expectations to establish transparency and accountability, to establish proper systems and insist on due process,” Harmon posited.
On the other hand, the state minister said government is rolling out its “Green State Development Strategy” which will guide Guyana’s economic and socio-economic development over the next 15 years.

ECONOMIC DIVERSIFICATION
The objective of the strategy is to “… re-orient and diversify Guyana’s economy, reducing reliance on traditional sectors and opening up new sustainable income and investment opportunity in a higher value added and higher growth sectors.”
The provision of cheap energy was a big issue for the commission. Harmon said that under the green strategy, opportunities are bountiful for the private sector as some measures include among other things, accessing credit facilities under a green climate change fund set up by the UN, tax emptions on imported items for wind and solar energy, tax holidays for corporations that invest in water treatment and recycling facilities and equipment and charging ports for hybrid vehicles, among other benefits.

Former PSC Chairman, Captain Gerald Gouveia, said job creation is a major issue which has to be addressed as university graduates are leaving Guyana because they cannot find jobs.
He said investors are the ones to create jobs, but investor confidence was affected by change in government. He also said the working relationship between the private sector and government has changed.
According to Gouveia, the private sector is scared of getting into business with government, since it does not know what can happen when governments change. “We are very concerned about the relationship and involving ourselves in partnerships in privatisation deals that can then come under serious scrutiny, politically,” he said.

Meanwhile, incumbent, veteran business magnate Edward Boyer, was re-elected unopposed to the position of chairman of the commission, while shipping executive Desmond Sears, was re-elected vice-chairman. Past Chairman Major General (ret’d) Norman McLean was elected to the position of secretary and financial expert Fitzroy McLeod, was re-elected unopposed as treasurer.
Boyer said a strong PSC is necessary for the development of Guyana and no government has ever been successful without a vibrant private sector.

“I would like 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. 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 said.

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