Swift policy action will be necessary from the next Govt.

Mar 26, 2015 Letters

DEAR EDITOR,
Guyana’s real potential growth rate is 8 percent plus. Unfortunately since the death of Cheddi Jagan, Guyana has not seen growth rates anywhere near these levels. As a nation, since 1997 we have averaged a growth rate at about 3.2 percent. To really grow the nation out of poverty, we have to be growing at above 5 percent. Thus, the Jagdeo/Ramotar era remains a very disappointing one for the working class.
The next Government faces significant challenges. They have to revamp the way decisions are taken. The PPP standard of hogging all the deals for a small cabal has to cease and the pace of implementation of projects has to be accelerated. The gold standard has to be transparency in actions and decisions. Unless that is done, we will not be able to attract the quantum and kind of investments necessary to grow Guyana’s economy at the desired rates.
What is vitally necessary from a Granger/Nagamootoo-led Government is bold policy steps being taken early. Big wins in the first 100 days such as incentivizing the Berbice Bridge Company to reduce the tolls, establishing the Procurement Commission, immediately releasing a 10 percent across the board increase for all classes of workers, halting all mega procurement of goods and services and capital projects for urgent review is mandatory.
It is hoped these reviews will be able to cut out any acts of waste and squander-mania as practiced under the Ramotar administration, with a clear aim of restarting the relevant projects within 100 days of May 11th. In the grand scheme of things, in the first 100 days, they have to firmly establish the guidelines to re-shape Guyana’s economy.
There will be no time for more speeches after May 11th, just concrete policy action. After all, judgment days from the electorate will be five short years away and in a turnaround environment that time will fly like a rocket and the PPP will still be cash-rich five years from now waiting in the wings of power to capitalise on any shortcomings of the incoming administration.
Along with the economic and human development agenda items, there will be political agenda items like constitutional reform that will be running parallel along with the socio-economic agenda such as police reforms, etc. But key issues for consideration in the first year would be tax reforms, police reforms, reforms within the main economic sectors to progress the idea planted by Granger that as President he wants a value added economy – no more raw rice, raw sugar, raw gold, raw bauxite, raw logs. All the economic sectors will have to be reformed to ensure they are prepared for legitimate foreign and local direct investments.
No sector should be the forbidden areas of Guyana anymore. No exclusive contracts for medical supplies anymore. No secret deals that allow export of thousands of raw logs out of Guyana through the back door with no scope for wood processing or furniture manufacturing.
Bartica and Mahdia must be developed into Free Trade Economic Zone that drives a thriving jewellery manufacturing industry, rather than the export of raw gold. Sugar has to be reformed to ensure that all the upstream value added products can be produced and marketed to claim a greater share of the value chain for Guyana.
In the final analysis, swift policy action will be necessary from the next Government.
Sase Singh

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