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LCDS receives support from businesses

Dec 21, 2009 News


–    Ram and Mc Rae survey

The government has won overwhelming support for its pursuit of the Low Carbon Development Strategy (LCDS).
This is according to the results of the Ram and Mc Rae Business Outlook Survey for 2010.
Fifty nine business entities were asked whether they agreed with government’s decision/actions in respect of 17 issues which arose or were considered critical in 2009.
The government also won support for the new Anti – Money Laundering and Countering of Terrorism Act while its non–investigation of CLICO’s failure and continuation of its radio monopoly were tied for highest levels of disagreement.
From a list of 14 issues, the respondents were all adamant that the government should take immediate action in accelerating tax reform, while they would also like to see the administration deal with corruption, tackle crime, tax evasion, reduce interest rates, improve the efficiency of the government, enhance governance, implement measures to curb the migration of skilled personnel, control inflation and expand export incentives.
Meanwhile, when asked to rate 21 public entities that affect businesses ranging from poor (ineffective) to excellent (very effective), 83 per cent of the respondents (from a total of 53) rated the Guyana Power and Light Incorporation as ineffective, while 68 per cent (from a total of 56) also rated the Guyana Police Force (GPF) as poor.
Additionally, the Ministry of Home Affairs was also rated as ineffective by the 68 per cent of the respondents.
Those which received the highest ratings for being moderately effective were the Ministry of Agriculture (76 per cent from a total of 49), Bank of Guyana ((58 per cent from a total of 45), and the Ministry of Labour (66 per cent from a total of 50).
According to the survey, among regulators, the Bank of Guyana received the highest favourable rating followed by the Guyana Securities Council and the Guyana Tourism Authority. The Office of the Commissioner of Insurance, which came to prominence in 2009 for its supervision of the failed insurance giant CLICO, was the lowest ranked with 30 respondents considering it ineffective.
Meanwhile, for the first time the survey sought respondents’ views on private sector/non governmental organisations, but in a similar manner to the public sector ratings, not all surveyed respondents expressed a view on any of these.
Of the 10 organisations, the two trade union umbrella bodies were rated lowest in terms of effectiveness, with the Guyana Trades Union Congress slightly ahead of the Federation of Independent Trade Unions.
According to the survey, 80 per cent and 84 per cent of the respondents rated them as being ineffective or marginally effective, respectively. Neither received an ‘excellent’ rating from any respondent.
At the other end of the scale, the institute of Chartered Accountants of Guyana and the Guyana Manufacturing and Services Association were rated highest with 33 per cent and 22 per cent rating them as effective and very effective, respectively.

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