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THE THIEF OF TIME

Dec 10, 2016 Editorial, Features / Columnists

One of the world’s greatest artists, Leonardo da Vinci, it is claimed, took more than a decade to finish one of the world’s most famous paintings, the Mona Lisa. It is said that Da Vinci has left more unfinished paintings than what he actually completed in his lifetime. He was a notorious procrastinator, and we have learnt over the years to respect the adage that procrastination is the thief of time.
Since independence, there are many examples of great things that have been achieved in Guyana by those who used their ability, competency and leadership skills to help develop the country. Corruption and raping of the treasury negated any real development achieved under the last administration. Over the last eighteen months, there has been the belief by many that much more could have been achieved, but procrastination, indecision and inaction are hindering the advancement of the country.
Respected experts are lamenting the fact that the economy is declining, production in all sectors, except for mining is also reducing and foreign investments are diminishing. Further, the business community is frustrated and fed-up by a swathe of overlapping regulations and restrictions. And despite the endless complaints about the length of time it takes to obtain a business permit from the Ministry of Business or GO-Invest, no one in officialdom seems capable to remedy the situation.
Procrastination by the authority has stymied progress in both the private and public sectors. Some in authority have suddenly awoken only to realize that the future seems bleak for many, and that the economy is flat-lining. They have come to grips with the fact that the crime rate is high, corruption is rampant and jobs are scarce, but inexplicably there are still no solutions. The authorities are looking hopelessly at each other for answers.
The government has procrastinated on its promise of change and a better life for all, among others. But so far, not much has changed. Except for the cleaning-up of Georgetown, and the re-pavement of deplorable streets, not much else has occurred. There are still blackouts daily and water shortages continue. Farming is at a standstill to the point where many farmers have stopped farming, some are deeply in debt and others are bankrupt.
Hopes are vanishing and it seems that the 14 percent VAT on the consumption of electricity and water based on the usage above a certain amount is an additional burden on the citizens. Although this has placed the government between a rock and a hard place it is still accepted that this possibly is the lesser of two evils. While it is true that most of the problems facing the country today have resulted from the inept policies of the last government, procrastination and dithering on the part of this government have exacerbated the situation.
The 2017 budget is creating a stir in Parliament due largely to the fact that the opposition believes that it would cripple the economy. But the government has remained steadfast in its position that the budget will see development of the economy. Nonetheless, the budget has attracted widespread criticism from the Private Sector Commission, local Chambers of Commerce and many other organizations. The citizens don’t seem impressed either.
And although some have credited the government for lowering the corporate tax from 30 percent to 27 percent and increasing the tax threshold from G$55,000 to G$60,000, there is a shortfall of about $70 billion. The budget is $250 billion but revenue is projected to be about $180 billion. How does the government intend to make up this shortfall? Will it borrow billions, increase taxes, or print more money which would devalue the dollar? Or will it procrastinate?

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