PSC remains a partner in Guyana’s development – Minister Singh

The Private Sector Commission (PSC) has been reassured that it remains a partner with government for national development. This assurance was given by Senior Minister in the office of the President with responsibility for finance, Dr. Ashni Singh.

The minister was at the time delivering the feature address on behalf of President, Dr. Mohamed Irfaan Ali at the PSC’s 30th Annual General Meeting held at the Marriott Hotel.

Senior Minister in the office of the President with responsibility for Finance Dr. Ashni Singh.

Themed ‘Building a sustainable diverse economy,’ Minister Singh said government and the private sector sits on the same side of the table since their objectives are aligned. He said for consecutive budgets passed in the National Assembly, the main opposition has accused government of crafting a pro-private sector budget.

“This government’s position is that a budget that promotes private sector growth, that promotes the creation of jobs, that promotes the generation of incomes for Guyanese people, can only be a good thing for Guyana. And we will continue to maintain a policy framework that is conducive to growth and expansion in the private sector, the creation of jobs, the generation of incomes and the creation of wealth for all of the Guyanese people,” the finance minister stated.

Chairman of the PSC, Paul Cheong

Minister Singh said the PSC is observing its anniversary at a time when Guyana is experiencing dramatic structural shifts. He said government is committed to building a resilient economy with emphasis on non-oil sectors.

It was highlighted that several companies are at various stages in developing large scale gold mining activities in the country that will fuel job creation for Guyanese. In addition, he said, government is committed to developing the country’s tourism industry, noting that there are several branded hotels under construction to complement government’s drive.

Similar interest is also being placed on both the agriculture and telecommunications sectors so that Guyana does not depend solely on the revenues from the oil and gas sector. Minister Singh said it is no accident that Guyana’s non-oil economy is expected to grow in excess of seven per cent for 2022, adding that government will continue to make the investments needed to facilitate the rapid expansion in the non-oil economy.

Members of the PSC, the Diplomatic Corps and other officials present at the PSC’s 30th Annual General Meeting.

The PSC was also reminded that government is actively pursuing its target of reducing the cost of energy by 50 per cent through an energy mix that includes wind, solar, hydro and natural gas.

“My assurance to you today, on behalf of His Excellency the President, is that you have in this government, a government that believes very strongly, unshakably, unflinchingly and indeed unapologetically a government that believes very strongly in the role of the private sector in the future of Guyana. And you have in this government a partner committed to ensuring a rapidly growing and a highly competitive, world class, highly diversified economy in Guyana,” the minister said.

PSCs chairman Paul Cheong said members of the PSC are optimistic about the future of Guyana which is reflected in the passage of the $552.9 billion national budget earlier this year.

“Budget 2022 proposes measures at improving business competitiveness, promoting local content and ensuring tax parity,” he stated.

Present at the Annual General Meeting were members of the diplomatic corps, senior members of government and the judiciary.

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