PSC cautions against ‘No Confidence Motion’

Jul 01, 2014 News

…says will signal political instability to foreign investors

The Private Sector Commission (PSC) of Guyana believes that the holding of snap elections as a result of a ‘No Confidence Motion’ being passed against Government will only seek to destabilize the country.
The PSC by way of a public missive yesterday said, that it had taken note of the recent public statements by the Opposition with regard to passing a motion of no confidence in the Government of Guyana.
“We also take note of the President’s remarks challenging the Opposition to do so if they think that it is necessary.”
According to the PSC, “it will be very unfortunate if such a motion is passed as it would signal political instability to our foreign investors, financiers, customers and suppliers.”
The PSC said that “this will further increase the political risk premium added to the cost of capital when overseas funding is sought by private entities and can negatively impact our economy.”
The PSC said too that it believes that for progress to be made in a dispensation where a minority Government and a Majority Opposition exists, the political culture should consist of dialogue, compromise and patriotism on issues of national interest and development.
“This culture has been very much absent since our last general elections in 2011 as both sides of the House have exposed their limitations in dealing with such a dispensation.”
According to the PSC, the calling for elections prematurely is signaling that only in a “winner takes all” environment can progress be made.
“This does not augur well for a plural society such as Guyana,” according to the PSC.
The PSC said it is not hopeful that general elections will automatically resolve many of the problems facing the country.
It notes however that, if elections are to be called, “we hope that they would be conducted efficiently and effectively…We would also hope that whatever the results, that they would be accepted by all and that the country can move forward so that every member of our population can be guaranteed a better life.”
It was the Alliance For Change (AFC) which first signaled that it was preparing to table a motion of no confidence in Government.
While A Partnership for National Unity (APNU) has not formally taken a decision on the proposed motion, it has signaled a propensity to support such if brought by the AFC.
President Donald Ramotar has since dared the political opposition to table the motion.
Should a motion of no confidence be successfully passed in the National Assembly, the President will have to call general elections within six months.

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PSC cautions against ‘No Confidence Motion’

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