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Cheap energy will boost manufacturing sector
– IDB to take another look at Amaila Falls Hydro Project next month – Pres Ramotar
Business magnate, Dr. Yesu Persaud has asserted that political interference is one of the main factors affecting the manufacturing sector in Guyana.
Dr. Persaud made this declaration on Saturday at the official launching of Sueria Manufacturing Inc., a confectionary company at the Eccles Industrial Site on the East Bank of Demerara.
President Donald Ramotar during his presentation
Dr. Persaud in his presentation at the auspicious event said that while he welcomes the young entrepreneurs into the local manufacturing world, it is imperative that he highlights some of the factors affecting the industry.
The 85-year-old philanthropist said, “The Manufacturing sector has been affected by too much political interference.”
His presentation was made in the presence of President Donald Ramotar and First Lady Deolatchmee Ramotar who were part of the gathering that extended best wishes to the young owners of the company, Teshawna Lall and her husband Frank Sanichara.
While Dr Persaud was making his statement, the Guyanese leader fixed his eyes on the industrialist, who added, “Do not interfere. Let the manufacturers be allowed to manage their own businesses.”
When it was the President’s turn to take the podium, he said, “I am one who believes in calling a spade a spade. The real challenge we have in the manufacturing sector is lack of cheap energy. And therefore for us to be competitive on the regional market, we need a hydro plan but that was stymied in Parliament.”
The President added, “We have a small population in Guyana and I thank the young owners of the confectionary company for looking to export the locally made products and find fortune on the international market. However, we have a philosophy of narrow-mindedness in Guyana and we have seen this in the case where a lot of developmental projects piloted by the government have been shot down.”
President Ramotar then said that the controversial Amaila Falls Hydro Project, which was criticized by the parliamentary opposition, will not be brushed aside.
He reassured the audience that the project which is projected to cost at least US$1B continues to have government’s unwavering support and that the project will be taken back to the Inter-American Development Bank (IDB) as early as next month.
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