Latest update February 16th, 2025 7:49 PM
Latest News
- Oil in Liza 1, 2 and Payara to be drained in less than five years
- ExxonM does not deny paying taxes in Bahamas but tells K/News to focus on how the oil deal is delivering money to Guyana
- Thousands take part in London rally against Donald Trump’s Gaza plan
- Govt. aggressively pursuing digitizing of health sector – Pres. Ali
- 275 cases of child abuse recorded in 2025 – Min. Persaud
Govt. not to be blamed for business slowdown
…but needs to come up with urgent strategic plan – PSC Chairman
By Abena Rockcliffe-Campbell
Chairman, Eddie Boyer
The economy is in a real bad state and businesses are suffering, not one business has reported a boost. All members of the Private Sector Commission are complaining. There needs to be an urgent intervention. Those are the views reflected by Chairman of the Private Sector Commission, Eddie Boyer.
During a recent interview with Kaieteur News, Boyer said that while blame for the suffering of businesses in Guyana should not be laid at the feet of the government, it must know that it is time to develop a strategic plan.
“We need government to jump start certain things… to look at certain things. We want the government to understand that there is a decline in the economy. I must commend the Minister of State (Joseph Harmon)… he admitted it, but it is now action time.”
Asked if he really thinks that there is something that the government can do at this time to arrest the economic downturn, Boyer’s response was “Absolutely”.
The businessman said, “First of all the government has to look in terms of what they giving businesses as incentives in a down economy. They have to start looking at those measures.”
He continued, “Government needs to engage the sectors, the manufacturers, the commercial businessmen etc., so that they can try to understand what they can do to arrest the decline. No one is blaming the government for specific declines, what we are saying is arrest the decline. Give this industry a help. All our exports that bring us foreign exchange, to add stability in the foreign exchange have declined. Where does that leave us? It means basically that you cannot fill the gap.”
Boyer said that there is going to be a domino effect, “when people see the dollar value dropping they will hold on to the US dollar. There will also be much frustration. Guyanese have become accustomed to a spending life and a certain type of living. So what are they going to do now?”
Boyer thinks that if Government arranges a sit-down with intelligent minds in business, a solution can be met.
“I am saying to the government that we need to all sit down and analyze things; look at the problems and come up with solutions. The quicker we do that, the quicker we can find a way out. We need to look at it before there is further decline.”
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
I don’t remember!
Peeping Tom… Kaieteur News- I have an uncle, Morty Finkelstein, who has the peculiar habit of remembering things with... more
CARICOM Nations Should Respond Together To new U.S. Policies
By Sir Ronald Sanders Ambassador to the US and the OAS, Sir Ronald Sanders Kaieteur News-Two Executive Orders issued by U.S.... more
Weekend Cartoon
