With Guyana’s growth rate contracting, the Private Sector Commission (PSC) has stepped up to the plate by compiling a report detailing several recommendations to put Guyana on a path to greater economic growth.
The report was presented on Monday by representatives from several PSC organisations to Leader of the Opposition Dr Bharrat Jagdeo, who saluted the gesture. According to the former President, Guyana is presently adrift when it comes to economic strategies from the government. This renders the PSC’s input timely.
“I believe that we’re adrift now, policy wise, as a country. Predictability and clarity (of policy) are very important for the future and for investments. So any role we can play, in helping to create that environment, (we will play).”
“So I’m glad the private sector has taken this bold step of trying to put things on paper, so then you’d have a specific response from government about those measures,” he continued. “Personally, I’m not hopeful that that would happen in the government, due to the deficit of understanding of what makes an economy tick, but I’m hopeful.”
Jagdeo reminded that the PSC has played critical roles in the past to help previous governments strategically plan their economic policies. He pointed to their role as job creators, in an economy where recent reports indicate large numbers are unemployed.
“I think it’s great that the private sector bodies of Guyana, they’re taking a leadership role in helping to define a future Guyana. We do have challenges now and I think we have to work to overcome these challenges.”
“Nevertheless I remain optimistic. The private sector is a critical stakeholder in wealth creation and by extension jobs and wellbeing. They must be listened to and be part of a process of contribution to the creation of that vision,” Jagdeo stated, adding that he and his team would take time to study the report before making comments on its contents.