As the executive members of the Private Sector Commission (PSC) met for its Annual General Meeting (AGM), US Ambassador to Guyana, Sarah-Ann Lynch called on the Commission to play its role in the fight against corruption.
The Ambassador stated that World Bank’s 2018 report on Ease of Doing Business reflected a drop in Guyana’s ranking from 126 in 2017 to 134 in 2018, out of 190 countries. “Countries such as Iran and the West Bank and Gaza ranked better than Guyana”, the diplomatic posited.
She explained this is so because Guyana has high rates of taxation, energy, corruption and a number of others.
“In addition, the duties imposed on many imported items can be substantial, driving costs up beyond competitiveness. I don’t need to tell you that the cost of electricity is one of the highest in the region at more than 35 cents per kilowatt hour. The power grid system is antiquated, resulting in regular power outages, forcing companies, I’m sure many of yours, to install its own power generation systems to cope with the blackouts,” the Ambassador noted.
As such, she noted that the PSC can play a role in affecting a change by offering guidance to the Government in shaping legislation to tackle corruption. Further the commission can review policies by the administration and recommend changes, the Ambassador added.
Meanwhile, the new executives of the PSC are expected to be elected later today.